In this day and age there are a number of different ways people can go about selling their homes. Whether it’s selling your house at the auction house, selling via an estate agent or selling privately – all are viable options as long as home-owners do their research and pick the right people for the job.
Today we’ll look at how to go about selling your house at the auction house. We have put together a small little inforgraphic outlining 8 key steps to remember when selling your house via auction. These steps will not only help you understand the auction house process a little better but it will also advise you on how to give your property the best possible chance of selling!
To help you understand a little better, I’ve expanded on each point a little below so give it a read if you’re still unsure about anything!
- The auctioneers fee: This is typically around 2.5% of the property price but could still vary depending on which auction house you pick. You may also be expected to pay legal & advertising fee’s.
- Pick an auction house: Pick an auction house that fits your criteria and circumstances, prices can vary depending on reputation so be sure to do your research and shop around to find the best deal.
- You can accept offers beforehand: This is totally legal and up to you to decide if you want to take the offer.
- Set a reserve price: A reserve price is the lowest you are willing to accept for your property. Be sure to take into account auctioneer, legal & potentially advertising fee’s before picking a figure!
- Set a guide price: The guide price is the price you and the auctioneer are hoping to achieve for the property. Note, guide prices are not always met, they are there as an indication.
- Get your property ready for viewing: Often overlooked but it goes without saying, if your property looks good, it will have a better chance to sell. Get out all your DIY gear and give your property a good makeover. Improves it’s kerb appeal and odds are that it will sell for sure!
- Self advertise: Get word out to as many people as possible. Your auction house will do advertising of it’s own but you should be proactive and do some advertising for yourself. Get on social media, tell your friends or even get an ad in the local newspaper, every little helps!
- Auction day: Not much you can do here except hope for the best. Be sure to attend (recommended but not obligated). If your property doesn’t hit it’s reserve there is still hope because it’s still possible for you to broker a deal with a potential buyer even after the lot has finished.
So there you have it, our 8 steps on how to sell your house at auction quickly! If you have any questions feel free to leave a comment and we’ll get back to you as soon as possible!
Over the course of the last year alone, our team has helped & advised thousands of home owners & purchased hundreds of properties which has brought comfort and stability to the lives of people who have sold their homes with us.