If you have decided to sell your house at an auction, you better prepare yourself for the process. Listing a property for auction is way different than selling a house using other methods. To make sure everything goes smoothly, you must educate yourself about the process. This is especially true for people who are hosting an auction for the first time.
Auctioning a house is a great idea if you want Top dollar for your property. If you are ready to take this step, you are in the right place. We have provided a brief guide to clear your doubts and questions if any.
- Schedule a house appraisal
Before putting your house up for sale, you will need to schedule an appraisal. This involves contacting your team and discussing the process. During the appraisal, they will assess your home and estimate how well it might sell at auction.
- Confirm your instructions with the auctioneer
Once you are done with the first step, you will need to sign an auction agency agreement. This agreement outlines the fee structure, terms and conditions, and other details in writing before your home is listed for sale.
- Compiling the legal pack
When you sell a property, you will likely need a conveyancer to handle the legal stuff. Your auctioneer will ask your solicitor for legal documents to share with potential buyers online before the auction. This helps buyers decide if they want to bid and how much. The auctioneer will work with your solicitor to make sure all the necessary paperwork is ready so your property can be listed for sale without any delays.
- Organise property viewings
When it’s time for viewings, the auctioneer usually arranges group visits, which are more convenient for you as the seller. They will have staff there to show people around.
- Attend the auction
The auction time and date are set beforehand. You can watch the auction and see the bids coming in, or you can let the auctioneer handle it. They will let you know if the bidding reaches your minimum price and guide you through the next steps to complete the sale.
Selling a house at an auction is a complex process. But with a good team by your side and the right amount of support, you can make it possible.
