Entries of all type of properties and assets are invited throughout the year at The World of auctions. Free no obligation advice on all types of auction sales.
Entries are always invited at World of Auctions
To give you the best possible advice, all we will need to see initially would be:
Full address of the property including post code
Photographs (external and internal if possible)
Tenure details
Tenancy details (if applicable)
Floor plans, room sizes and/or areas (if available)
A copy of your Title plan – if you have one.
To contact one of our partners, Valuers or local agents in confidence, for a property appraisal please click on one of the links below:
Please see below our step by step guide
Comprehensive Step-by-Step Guide for Entering Your Property into an Auction
Step 1: Initial Consultation and Appraisal
- After contacting the auction house to express interest in selling your property through auction.
- Provide essential property details, including:
- Full address
- Photographs
- Tenure information
- Tenancy details (if applicable)
- Floor plans
- Title plan
- Schedule a no-obligation appraisal with the auction house.
- During the appraisal, the auction house will:
- Assess whether auction is the best method to achieve the highest price for your property
- Provide an estimated sale price and recommended reserve price
-
- Discuss the auction process and answer any questions you may have.
Step 2: Agreement and Instruction
- Review and agree to the auction house’s terms and conditions, including:
- Entry fees (if any)
- Commission rates (if any)
- Any other associated costs
- Provide proof of identity and address as required by Anti Money Laundering Regulations
- Sign the necessary paperwork to formally instruct the auction house to proceed with the sale.
Step 3: Property Inspection and Documentation
- Allow the auction house to conduct a thorough inspection of your property:
- A surveyor will visit to take measurements and photographs
-
- They may also assess the condition of the property and note any significant features
- Review and approve the draft sales particulars sent by the auction house.
- Instruct your solicitor to prepare a comprehensive legal pack for the property, which typically includes:
- Title deeds
- Property information forms
- Searches
- Lease documents (if applicable)
- Any other relevant legal documentation
Step 4: Marketing and Preparation
- The auction house will initiate an intensive marketing campaign, which may include:
- Listing on major property portals
- Online advertising
- Direct marketing to potential buyers
- Social media promotion
- Targeted email marketing
- Expect regular updates from the auction house on:
- Interest levels in your property
- Enquiries received
- Viewing requests
- Prepare your property for viewings, ensuring it’s presented in the best possible light
- Be available to answer any questions that potential buyers may have about the property
Step 5: Pre-Auction Period
- Continue to work closely with your solicitor to ensure all legal documentation is in order
- Address any queries or concerns raised by potential buyers or their solicitors
- Consider any pre-auction offers carefully, in consultation with the auction house
- Confirm your reserve price with the auction house
- Decide whether you’ll attend the auction in person or monitor it remotely
Step 6: Auction Day
- On the day of the auction:
- The auctioneer will present your property to the bidders
- Bidding will commence and continue until the highest bid is reached.
- If the highest bid meets or exceeds your reserve price:
- The sale becomes legally binding upon the fall of the gavel
- The successful bidder will be required to pay a non-refundable deposit (typically 10% of the purchase price)
- Contracts will be exchanged immediately by the auctioneer on your behalf
- If the property doesn’t reach the reserve price:
- It will be considered unsold
- The auction house will discuss post-auction strategies with you
Step 7: Completion
- After a successful auction:
- The completion process begins immediately
- Standard completion periods are typically 20-28 working days after the auction, depending on the auction house
- During this period:
- Your solicitor will liaise with the buyer’s solicitor to finalize the sale
- Prepare to vacate the property (if it’s not already vacant) by the agreed completion date
- On the completion date:
- The remaining balance of the purchase price will be transferred to your solicitor
- Ownership of the property will be legally transferred to the buyer.
Step 8: Post-Auction (If Unsold)
If your property doesn’t sell at auction:
- Discuss options with the auction house, which may include:
- Accepting any post-auction offers
- Re-entering the property in a future auction
- Exploring alternative sales methods
If you would like to populate the form below with your property address and a short note of your contact details together with the help you might need from us. Then please do so and click send.
Or email auctions@worldofauctions.co.uk and title your email advice required. One of the team will be in touch by return.
Selling A House At Auction: A Complete Guide In 2024 (hoa.org.uk)
How to sell a house at auction – Zoopla
