A reserve price is set for your property, and it is placed online on a lower starting bid to attract attention. Prior to placing your property on auction, your solicitor needs to complete a legal pack for the property to sell at auction. The auction cycle for 28 days, with its individual running countdown and fixed end date. 

Once people bid, they are financially obligated to purchase the property. When the auction cycle ends, your property is sold to the highest bidder over reserve price. If reserve price has not been reached, you are not obligated to sell, and we will put your property on another auction cycle. 

When the auction cycle ends, the buyer pays the reservation fee and deposit straight away. We pass their details to your solicitors so they can exchange contracts straight away and finalise the transaction in 28 if sold unconditionally or 56 days if sold conditionally.

Not our auction. We sell new properties, well-lived-in properties, and those that need some TLC. We have successfully sold properties ranging from £10,000 all the way up to £4million, so we ate well equipped to deal with any property, any size or condition. Have a look at our current live properties, to see for yourself. 

Absolutely not. Together we agree on a reserve price that you are happy with, the property will not sell for less than this, even when the auction cycle ends. 

We set a lower starting bid to generate interest in the property, and that steadily goes higher as the bids start coming in.  Often, you can get more money by selling at auction, as no one knows the secret reserve price and they continue bidding higher and higher. Over 80% of our properties sell for over reserve price. 

Definitely by way of online auction, and not estate agents. 

Whilst estate agents have been the usual go to, they rarely meet people’s expectations when selling a property. Usually, you would put a property on the market with them, and they sit and wait for the best and for a buyer to come along.

We do things differently here at Smart Auction UK. We proactively sell and go out to market with your property, both online and offline. We advertise on all the usual online channels, for international exposure, as well as proactively go out to out vast network of investors and landlords. 

We provide maximum exposure through our network of over 3,500 independent estate agents and over 600 partner branches, making sure your property is visible locally and nationally. 

For best results and money at auction, we need a low starting bid to generate interest with buyers. Don’t worry, your property won’t sell for anything near this starting bid and will only sell for over reserve price as previously agreed. By starting the bid very low, there are increased chances of receiving bids over the reserve price, so you walk away with more than you expected, or would have got on the open market. 

The reserve price is the minimum amount a property is allowed to sell for at auction.

The reserve price is decided and agreed between the auction account manager and the seller before progressing with an auction sale and is secret to any potential buyers. Even if the auction cycle ends and the property has not met the reserve price, it will not sell, and be re-entered into another auction cycle. 

As with buying or selling anything, its good to have a starting point to begin negotiations. The starting bid is a lower price the property is put on auction for in the very beginning. It is set about 10% or more, lower than the reserve price to generate interest. Don’t be alarmed, your property won’t sell for anything close to this. 

Whilst with usual sale processes where you put an inflated price on the market and expect people to negotiate you down, we do the opposite. We start low and build up high. 

Very secure. All our buyers and sellers are checked and verified for ID and money laundering checks, so you know this is the real deal. 

On the end of the auction cycle and the hammer going down, the buyer pays the reservation fee and a non-refundable deposit, and legal contracts are exchanged straight away. As the buyer is financially invested straight away, there is nearly no back outs with us. Fewer than 1% of buyers back out, compared to 30% with estate agents, making it the most secure method to sell your property. 

It is fast, secure and you will get the most money in this way. 

Fast – we can sell your property in 28 days or less. Our auction cycle runs for 28 days, however if you receive a bid you are happy with, then we can end the auction early and sell the property to that bidder. 

Secure – when the auction cycle ends and the hammer goes down, the buyer pays the reservation fee and non-refundable deposit, and exchanged legal contracts straight away. The buyer is financially invested and so is highly unlikely to back out. You also have the security that we will not sell your property below the set reserve price. 

Maximum price - your property will be advertised with a lower starting bid which is more appealing than a traditional asking price. A more attractive starting bid leads to more viewings and interest; this equates to more offers and ensures you achieve the best price in the current market. Your property will be advertised in our auction catalogue, which is sent to an extensive mailing list, it will also be advertised by partner agents both locally and nationally as well as on the auction website, for maximum exposure. 

This is the most common and quickest way to sell your property. It is most suitable for people when their property is empty, or they are ready to move out quickly. 

This means that at the end of the auction cycle and hammer going down, a reservation fee and non-refundable deposit is paid, and the legal contracts are exchanged immediately. The transaction completes in 28 days when you will hand the keys over. 

People choose to sell their properties conditionally, most commonly if they need more than 28 days to move out of their property. This can be granted for 56 days+, to complete and hand over the keys. 

This means that at the end of the auction cycle and the hammer going down, a reservation fee and non-refundable deposit is paid immediately, there are 28 days in which to legally exchange contracts and a further 28 days to complete the transaction. 

This service is free for sellers. There are no hidden charges or fees.

Our fees are paid by the buyer, so you can rest assured that you will not pay a penny to us. You will only have to cover solicitor costs, as per any house sale. We also don’t cover the costs of an EPC (if you require one), and in Scotland, the Home Report is not included. 

The buyer of the property pays our fees, so sellers can sell for absolutely free with us. 

The seller pays the commission so your property gets sold for you at no cost.

With us, fewer than 1% of sales fall through compared to a fall through rate of 30% with estate agents. 

Once the auction cycle ends and the hammer goes down, the buyer pays the reservation fee and deposit straight away, which means they hardly ever drop out of the purchase.  

We sell and advertise your property online and offline. 

On top of online advertising on our website, Zoopla and Rightmove for international reach, we also advertise your property offline. We have an extensive national network of over 3,500 independent estate agents and over 600 partner branches, where your property receives maximum exposure in auction catalogues, mailing lists, local and national press.

We sell properties old and new, refurbished and ones that need a little love pumped into them. Your property will be suitable for auction if it is: freehold or leasehold, in the UK, if it is empty or if you currently live there, whether it is residential or commercial and at any price point. 

Yes you can, however this is unlikely to be the most money you would get for your property. 

It is highly likely that the offer you received would get more and higher bids afterwards on our auction, driving the price up and gaining you the most money for your property. We direct all potential buyers to our bidding platform, and always recommend to wait until the end of the auction cycle to see the outcome, but it is your decision whether to accept an offer before the auction ends. 

In 28 if your property sale is unconditional or 56 days if your property sale is conditional. 

The quickest way to sell your property is with unconditional auction terms where, on the fall of the hammer, there is an immediate exchange of contracts, and the sale completes within 28 days. Alternatively, you can sell within 56 days through the conditional auction terms, if for example you need more time to find new accommodation. 

Each of our advertised properties runs on its own cycle of 28 days, right down to minutes, which can be seen on the individual countdowns. All our property auctions are held online and run all the time, day and night, and you can check them out from your laptop or phone here. There is no need to attend on a specific date and time. .

Call us on 03330 223 6118 today, or fill in the request a callback form, to speak with one of the team.