August 3, 2025
How to Sell a House at Auction: A Guide
Did you know that 70-80% of houses sold at an auction are successful? That’s right, selling a house through auctions is a quick and effective way to secure a sale within a certain timeframe.
However, many people choose not to auction their homes because it can be a time-consuming process if you don’t know how to do it correctly.
If this sounds like you, don’t worry because you’re not alone, and we’re here to help! Throughout this blog, we will provide a step-by-step guide to everything you need to know about selling a house at auction.
Why Sell Your Property at Auction?
There are many benefits when it comes to selling a property at auction, with one of the main advantages being the certainty of sale.
For example, once the bidding has closed, a binding legal contract is formed between you and the bidder, which means that they can’t change their mind without facing any legal or financial consequences.
Once the highest bidder wins the bid, they have to put down a 10% deposit on the day, and the remaining 90% is to be paid within the next month. Selling a house at auction is also much quicker than selling directly through an estate agent.
How to Sell Your Property at Auction
There are multiple steps involved with selling your house at auction, which may put people off going down this route. We have put together a step-by-step guide explaining how you can sell your house at auction:
Step 1 – Contact Your Estate Agent
Start by getting in touch with a reputable estate agent, such as ourselves at Liam Gretton. We will assess your property and determine whether auction houses are the solution for you.
Suppose we believe your property will do well at an auction house. In that case, we will then carry out a valuation and identify a suitable guide price (the starting price for bidding) and a reserve price (the minimum amount you’re willing to accept).
At this stage, we will explain everything you need to know about the auction process in more detail, while being on hand to answer any questions you may have.
Step 2 – Sign up for Auction
Once we have sorted the prices, explained the process and answered any questions you may have, we will then handle the paperwork associated with entering your property into an upcoming auction.
Step 3 – Prepare the Legal Pack
For this step, you will need a solicitor to create a legal pack for you. A legal pack includes a range of documents, including, but not limited to:
- Title documents
- Searches (local authority searches)
- Property information forms
If this sounds daunting, don’t worry, we will guide you through the entire process and recommend a solicitor if needed. We are on hand at all times to make sure you understand every step of the process.
Step 4 – Auction Day
Once all the paperwork is complete, the next step is to attend the auction. This will either take place online or in person. From here, potential buyers will bid on your property, and the highest bidder will win the auction.
If bidding meets or exceeds your reserve price, your property will officially be sold with a legal binding contract being created immediately.
Step 5 – Completion
As briefly mentioned before, the buyer should pay a deposit on the day of the auction, with the remaining balance being paid one month later. We will manage the final steps to make sure the sale is completed quickly and efficiently.
➤ Learn more in our guide to how property auctions work
How Much Does it Cost to Sell a Property at Auction?
Selling your property through an auction is slightly more expensive than selling directly through an estate agent. This is because the process is much quicker. Here are the costs associated with selling a house through auction:
Type of fee | What is it? | How much does it cost? |
Entry fee | This is the price it costs to list your property at the auction | £100-£500 |
Marketing fees | These are the costs associated with marketing on social media | This varies depending on the amount of marketing. Generally speaking, they range from 2-5% of the property’s value |
Legal pack creation | This is paid to your solicitor to prepare the legal documents needed for the auction | This can vary but typically ranges between £100- £500 |
Auction commission | This is charged onto the final sale price once a property sells | The price varies depending on the auction room, the type of property and its value |
If you decide to go down the auctioning route, we will be able to provide you with more information regarding the costs associated with auctioning your property.
Pros and Cons of Selling Your House at Auction
Here are some of the pros and cons when selling your property at auction:
Some advantages include:
- Speed of sale: Properties sold at auction usually sell within 28 days
- Access to a wide range of buyers: Auctions can attract investors, serious cash buyers and developers
- Competitive bidding: You may receive a higher price for your property than you hoped. This is because buyers bid against each other at auctions, which creates a sense of urgency
Some disadvantages include:
- High fees: This is because selling through an auction is quicker and more intensive
- A sale isn’t guaranteed: Although this is a possibility, we will determine whether an auction house is right for your property before you go ahead with this
- Upfront costs (marketing, solicitor fees and legal packs): These need to be paid before the auction
Dos and Don’ts When Selling at Auction
When selling a house at auction, it’s important to do your research. Here are some dos and don’ts for when you’re selling at auction:
Do:
- Make sure to choose a reputable estate agent who has experience with auctions
- Find a solicitor as soon as possible (this will save you time further down the line)
- Set realistic guide and reserve prices
- Be prepared to act quickly (houses sell fast, and the process is quick when selling at auction houses)
- Prepare your home for the sale
Don’t:
- Ignore your agent’s pricing advice
- Forget about the fees
- Hide any problems with the property; it’s better to mention this earlier rather than later
- Delay sorting your legal pack
- Sell with an auction if you aren’t committed to the whole process
Secure a Sale at Auction With Liam Gretton
Here at Liam Gretton, we are an independent estate agency with years of experience in the property industry.
We understand that selling a property can be a stressful and time-sensitive process, which is why we offer expert auction services to deliver fast and secure sales.
No matter what property you’re looking to sell, you can rest assured that we at Liam Gretton are here to help you. Explore our property auction services today.
For more information on how we work or to start your house-selling process today, don’t hesitate to contact us at 0151 662 0312. We look forward to helping you achieve a straightforward and successful sale!
FAQs
Yes, you need a solicitor when selling your house at auction because they are responsible for creating your legal pack, which is a must-have when selling at an auction house.
Yes, selling a property is a good idea, especially for those looking for a quick and easy way to sell their home.
No, you don’t necessarily need an estate agent to sell your house at auction; however, it is highly recommended as it makes the process much quicker and easier.
The odds of your house selling at auction are high, with success rates ranging from 70% to 80%. If we don’t think your house will sell at auction, we will advise you of this before you commit to anything.
There are multiple reasons why a property may not sell at auction, such as if the property wasn’t priced correctly, therefore it didn’t receive enough interest. This is why setting realistic guide and reserve prices is so important.
Liam is the founder of Liam Gretton – Wirral Estate Agent and has a vast experience in both buying and selling homes on the Wirral. His expertise has led him to become one of the Wirral’s leading estate agents.
