Alternatives to Selling by Property Auction

Although some homeowners like to use an auction to sell their property, there are other viable options that can be better strategies for getting a fast and fair offer on your home.

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Your top questions when considering alternatives to selling by property auction

✅ What are the steps involved with selling a home through an auction?

It starts with the auctioneer advertising the listing for your property in advance of hosting the auction, which will take place on a specific day, when people are able to place bids on it. If you receive no bids then your property does not sell. If your home does sell, the auctioneer will oversee the final steps involved with completing the sale of the property.

✅ What are the advantages of selling a home at an auction?

Homeowners won’t have to put in much effort when selling this way because the auctioneer will handle all of the work, which can be welcome those sellers looking to reduce their workload. Auctioning can also sometimes have the advantage of being able to secure a higher price for your property compared to selling via other means, though this is not guaranteed.

✅ Are there any disadvantages of using an auction to sell a flat or house?

Yes, including the fact that you will need to pay commission if your home sells. This is often charged at 2.5 percent of a property’s final sale price and it will increase your expenses because the fee is deducted immediately from the sale proceeds. Selling through an auction can also take a long time, so be prepared to wait many weeks or months before a sale.

✅ What are the alternative ways to sell a home other than an auction?

There are three conventional alternatives to selling a property through an auction, and these are selling with an estate agent, selling without any help from a third party or selling to a quick home buyer such as LDN Properties. You will find that there are specific advantages and disadvantages with each method to review before you make a final decision.

✅ Which is the fastest of all the available property selling methods?

Selling to a quick home buyer will usually be your swiftest option because the entire timeline for selling your property should only be a handful of weeks, and this includes exchanging contracts and paying you the proceeds. Selling through an auction can take many weeks or even months, depending on the process. And selling on your own or with an estate agent can often take a number of months but might take more than an entire year in certain situations.

✅ How can I avoid having to pay fees when selling my home?

The best way to ensure you won’t have to pay any commission when trying to sell your house or flat is by contacting a zero-fee quick buyer such as LDN Properties, or selling without any help from a third party that will charge you fees. But if you sell your home at an auction or by using the services of an estate agent then you’ll need to pay them commission for a successful sale.

✅ How do I know I can trust the sale of my home to a quick buyer?

Ask individual companies if they can prove they are registered with The Property Ombudsman, as this independent organisation writes policies to guard homeowners against fraud in the quick buying industry, and all members – like LDN Properties – must agree to follow those rules, so this should give you additional peace of mind when you sell your flat or house this way.

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