How to sell a house at auction
Guide to selling your property at auction
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Content Written By: Raphael Kaye - Last Updated: 23/10/2025
Your first question about selling your house at auction will almost certainly be: Is it a good idea?
It might not be the most traditional way to find a buyer, but it can be the right way in certain circumstances.
“There was an 8.7% increase in the number of properties up for auction and a 7.8% increase in the total number sold by late 2023.”
Source: Property Auction Insights: Essential Information Group
It’s important to know the ins and outs of selling property at auction before you dive in, so let’s take a look at the pros and cons, the hows and whys and the possible alternatives if you decide it’s not for you.
Table of Contents
Why auction a house instead of selling on the open market?
How much does it cost to sell a house at auction?
How to sell your house at auction
Is it worth selling a house at auction?
Frequently asked questions
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Why auction a house instead of selling on the open market?
There are many reasons why a seller like you might opt for an auction over the open market, not least for the sheer convenience of it.
A property auction offers a seller a relatively quick way out of ownership—once the hammer falls, transactions are typically bound by a contract that needs to be honoured by both parties within a set time period, which is usually 28 days.
Here are some of the main reasons for selling at auction:
Top reasons to sell your house at auction
1
Speed and convenience
Weeks or months faster than the open market
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Speed and convenience
- A fast route to a sale—typically weeks or months quicker than the open market
- A set timeline—auctions are scheduled and winning bids are legally binding
- Bidders are attending for a reason—they’re ready to buy
2
Difficult or unusual properties
A practical route for homes with issues
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Difficult or unusual properties
- A good way to sell properties that have known problems
- Quick sales of family homes in cases of divorce or death, for example
- More forgiving and less inquisitive buyers than on the open market
3
(Some) Control over sale price
Guardrails like reserve prices
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(Some) Control over sale price
- You can set a reserve price if you don’t want to accept less than a certain amount
- You decide when to put it up for sale and trigger buyer interest
- No need to deal with buyers who will try their luck with low offers
4
Creates competition
Live bidding can lift the final price
📈
Creates competition
- Potential for a higher hammer price through competitive bidding
- Prospective buyers can see what other buyers are offering through live bids
- Good for ‘project’ houses that bidders want to get a good deal on
5
Certainty & fewer fall-throughs
Winning bids are legally binding
✅
Certainty & fewer fall-throughs
- Legal pack in advance reduces surprises that derail a sale
- Buyers commit with deposits and deadlines
- Lower chance of chains collapsing post-auction
Comparatively, the open market can leave you waiting for months on end to find the right buyer, while auctions put your house in front of multiple prospective buyers at once—and they won’t be negotiating with you either. The winning bidder will pay whatever the final hammer price is, so it’s important to know what you want for it before you submit it for an auction.
“Your reserve is the lowest price you will accept to sell your house – this is kept private between you and the auctioneer. If all the offers are lower, the auctioneer will withdraw the property from the auction.”
Source: HomeOwners Alliance
The pros and cons of selling your house at auction
It’s not the right route for everyone, so let’s take a look at the advantages and disadvantages of putting your house up for auction so you can make a more informed decision:
| Pros of selling houses at auction | Cons of selling houses at auction |
|---|---|
| ✔️ Possibility of a quick sale | ❌ Not guaranteed to sell |
| ✔️ Sellers and buyers know where they stand | ❌ Final hammer price might be less than you’d hoped (but you can set a reserve) |
| ✔️ No upper limit to final hammer price | ❌ You’ll need to pay fees of £2.5k-5k |
| ✔️ Great option for unusual properties | ❌ You need to act quickly once the auction is over and there’s a winning bid |
| ✔️ Buyers who are ready to buy | ❌ Largely dependent on turnout on the day, plus other factors out of your control |
Of course, even if you do sell at auction, you’ll still need to pay a solicitor to manage the legalities of transferring ownership if you find a buyer. You’ll also need to pay for the likes of marketing and advertising to get your house ready for auction, whether it sells or not.
You can achieve an even quicker sale than you can at auction by selling to a cash buyer that’s ready to go—our cash reserves at The Property Buying Company mean you can sell right now without needing to go through the hassle of an auction. Get started by entering your postcode below.
How much does it cost to sell a house at auction?
The price you can expect to pay for selling your house at auction is made up of a range of things, from listing and marketing to commission and conveyancing. Let’s break it down:
| Item | Cons of selling houses at auction |
|---|---|
| Listing | £250-500 |
| Marketing and advertising | £250-500 |
| Final sale fee (2.5%) | £300+ |
| Solicitor fees | £1,200 + VAT |
| Total | £7,500 + VAT |
This is a rough estimate of what selling at auction could cost you, but the actual figures will, of course, depend on multiple factors, such as your property, your property’s condition, your location, your marketing preferences and your final hammer price if your house sells.
Here’s a quick comparison to show you how that might stack up against your other selling options: the open market and a cash buyer like The Property Buying Company:
| Item | YOU PAY | AVERAGE SALE TIME |
|---|---|---|
| Selling at an auction | £2.5k-5k | 6-10 weeks |
| Selling with The Property Buying Company | £0 | 2-3 weeks |
| Selling via estate agents | £1k-5k | 16-52 weeks |
Every auction house will be different and, indeed, every auction day itself is different. Even external factors like the weather can affect traditional auctions, as fewer buyers may turn up on the day and reduce the level of competition as a result.
Your final cost can be so variable, but it pays to do some shopping around to compare the fees that different auction houses might charge and try to work out a hypothetical cost versus the other methods above after your house has sold.
How to sell your house at auction
If you want to go ahead with an auction, the process can be quite straightforward, whether you opt for a traditional method or a purely online alternative. Auction houses are used to dealing with a wide variety of types of houses, so they’ll have no trouble adding yours to their catalogue, even if it is a bit unusual or problematic.
“It is often the case that properties are put up for auction because they are difficult to sell on the open market due to legal difficulties. The legal pack will often detail these problems, so it is crucial that an experienced auction solicitor checks it thoroughly.”
Source: Davisons Law’s advice for those intending to buy at auction
Here’s what you can expect from the process from start to end:
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Auction appraisal: Pick an auction house and get your property assessed
Instruction: Sign the terms and conditions to agree to the auction and provide documentation, including certificates
Involve your solicitor: Get your solicitor to draw up the legal pack, including the title deeds, property searches, conditions of sale and other guidelines
Generating interest: The auction house will market your property to prospective buyers and you may need to host open days, which might result in pre-auction offers
Setting your reserve: Submit your reserve price request and get the guide price set for your property, which will be used to help steer buyers with their bids
Auction day: Wait as prospective buyers bid on your property and hope it meets your reserve—contracts will be exchanged immediately with the winner and a 10% deposit will be paid (you don’t have to attend the auction if you don’t want to)
Completion: Complete within 28 days in collaboration with the auction house, the winning bidder and your respective solicitors—if the winner doesn’t complete, you get to keep their deposit
Top tip: If you receive an offer before the auction, think about what kind of interest you might get on the day itself before accepting it too quickly
How to choose an auction house
Don’t be afraid to shop around as you would with estate agents here—it’s important to choose the right auction house for you to stand the best chance of a sale.
Bear these tips in mind to help you pick:
Compare auction houses: Research fees, marketing content, success rates and specialist areas
Check online reviews: Read through Trustpilot and Google reviews for real-world customer experiences
Seek expert advice: Ask experienced estate agents, property professionals and cash buyers for recommendations and insights
Consider your property type: Look for companies that deal with specific types of situations, e.g. repossessions, high-end, divorce settlements, quick sales
You can go local by searching for things like ‘property auction near me’ or you can take your auction online to a nationwide audience and go with The Property Auction Company.
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Is it worth selling a house at auction?
Selling at an auction can be a good way to offload your property quickly and efficiently, but whether or not it’s right for you depends on your personal circumstances. You should consider what’s most important to you when it comes to the sale as a whole.
If you want to sell quickly and move on, selling at auction or to a cash buyer like The Property Buying Company can help you put the property behind you within days. If you want to get as close to 100% market value as you can, you might be better off going down the traditional route with estate agents, but this can take much longer.
Here’s how your selling options stack up to give you some food for thought:
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Remember, if you do go to auction, the sale becomes legally binding once the hammer has fallen, so you’ll be able to hold the buyer to the purchase or get to keep their deposit if they back out at a later date.
This is why, together with quick cash house buyers, auctions can be a good way to release cash from a property fast, so you can move on to the next chapter in your life. Read our FAQs below if you have more queries about selling a house at auction and don’t forget to submit your postcode for a free cash offer from us today to compare your options.
Frequently asked questions
What if my property doesn’t sell at auction?
In the event of an unsold property, the auctioneer might invite interested buyers to submit more offers to you after the auction is over or give you the option to relist it for the next available date.
How quickly will I need to move out if my house sells at auction?
The timelines differ between auction houses, so be sure to check the terms before you agree so you know what to expect. Typically, you can expect to have to move out within a couple of months of the hammer, but no sooner than 28 days unless you explicitly agree to do so.
Do I have to accept the highest bid on my house at auction?
No, you are not obliged to accept any bid that doesn’t meet your reserve. If bids during an auction don’t meet the reserve you set, your property will remain unsold, but you can still negotiate with prospective buyers thereafter or explore other options to sell. If a winning bid exceeds your reserve price, you will be bound to that sale once the hammer falls.
What do I do if my prospective house buyer refuses to pay auction fees?
If a buyer refuses to pay after the auction is over, you can try to negotiate with them—they may be willing to pay more for the house to cover the fees or you might choose to cover them yourself in order to secure the sale. If one buyer refuses, there may be another interested buyer who can step in to help you complete the sale.
In the event of a total refusal to purchase, the auction house might be able to take legal action against the buyer.
Should I accept an offer before my house goes to auction?
Since your house gets marketed to prospective buyers before the auction date to drum up interest, you might receive some advance offers. It’s entirely your call if you want to accept it, but consider their intentions behind pipping other buyers to the post—they might be anticipating a bidding war if it’s a particularly attractive property to them at that early stage.
You’ll also likely have paid the auction fees to list already, so it might be wise to go ahead with the auction anyway.
Edit Log
23/10/2025 - Content rewritten by Raphael Kaye
23/10/2025 - Content updated in line with Editorial Guidelines (Reviewed by Mathew McCorry)
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