Registering to Sell a House at Auction

When you want to sell your house at auction you cannot just go along to the auction house and tell them you want to sell it. Even paying the fees is not enough. In order to sell your property at auction you must register your house to be sold. This is imperative if you want to sell your house through the auction house and have an auctioneer perform the sale.

Registering Online

If you want to register your property for sale at auction it is possible to do so online. Most auction houses have websites and these sites allow you register online from the comfort of your own home. You may have to upload pictures too so have some prepared.

Registering At The Auction House

If you do not have access to a computer or you do not trust technology then you can also register at the auction house. An estate agent should help you find a good auction house if you do not know any. You can visit the auction house and register there and then with the auctioneer. For some sellers this is the preferable option as they get to see the auction house their property will be sold in. Meeting the auctioneer in person also gives the seller the chance to ask any questions they may have.

Setting An Auction Date and Time

Once the house is registered you will be given an auction date and time for the sale. The time will be the time your house is expected to be offered as a lot. This means you do not have to be at the auction house for too long waiting for all the other properties to be sold.

Setting The Reserve Price

When you register you can also set a reserve price for your house. This is the lowest price that you will allow your house to be sold for. This prevents your property from being sold at a ridiculously low price. The reserve price must be met for the house to be sold.

Setting A Guide Price

The reserve price is not the only price you can set. You are also able to decide on a guide price with the auction house. This guide price allows the seller to give buyers a ‘guide’ as to what is an appropriate price for the house. The ‘guide’ price though is usually quite low on purpose, in an attempt to attract buyers. If buyers think the house could go for as low as the guide price they may be more interested in making a bid. As the bids come in a bidding war begins, eventually driving the price up much higher than the guide price. The auction house will help you decide on a guide price with the help of estate agents.

Registering your house to sell is vital if you want to sell the property at auction. Doing this will begin the process of selling at auction and hopefully help you to get a quick and easy sale.