Sell Your Property at Auction

A faster and more secure way to sell your property.

Sheffield Estate Agents provides property auction services for homeowners, landlords, investors and property companies across Sheffield and South Yorkshire.

Selling at auction can be a good option if you want a quick sale, a clear timescale and greater certainty once a buyer has committed to the purchase.

We can help with the sale of houses, flats, investment properties, properties requiring renovation, land, commercial property and development opportunities.

Thinking about selling at auction?

Contact Sheffield Estate Agents for a FREE, no-obligation auction appraisal.

Why Sell Your Property at Auction?

Auction can offer several advantages over a traditional property sale:

• Faster sale – auctions work to set timescales and can often complete much quicker than a normal sale.
• Greater certainty – depending on the auction method, buyers make a formal commitment to purchase when their bid is accepted.
• Competitive bidding – several interested buyers can compete for the same property.
• Motivated buyers – auctions attract landlords, developers, investors and cash buyers who are actively looking to purchase.
• Sell in the property’s current condition – you may not need to renovate or modernise before selling.
• Clear pricing strategy – the guide and reserve prices are agreed as part of your auction strategy.

What Can We Sell at Auction?

Almost any property can potentially be sold at auction.

Auction is particularly suitable for:

• Houses requiring renovation or modernisation
• Vacant properties
• Tenanted properties
• Buy-to-let investments
• HMOs
• Probate properties
• Properties requiring a quick sale
• Short-lease properties
• Properties that may be difficult to mortgage
• Land and building plots
• Development opportunities
• Commercial property
• Mixed-use property
• Garages and unusual properties

Not sure if your property is suitable for auction?

Speak to us and we’ll discuss your property and the different selling options available.

How Does Selling at Auction Work?

We aim to make the process straightforward.

1. Free Auction Appraisal

We assess your property and discuss:

• Its current condition
• Local property values
• Likely buyer demand
• Potential selling price
• The most suitable method of sale

We’ll explain whether we believe auction or a traditional estate agency sale would be better for your circumstances.

2. Agree the Selling Strategy

If auction is suitable, we’ll discuss the recommended auction method and pricing strategy.

This normally includes agreeing an appropriate:

• Guide price
• Reserve price
• Marketing strategy
• Auction timescale

The guide price is used to attract buyer interest.

The reserve price is the minimum price at which the property can normally be sold at auction.

3. Prepare the Property for Sale

We’ll prepare your property for marketing.

This can include:

• Property photographs
• Property description
• Key selling features
• Investment information where relevant
• Viewing arrangements
• Marketing material

Your solicitor will normally prepare the legal documents buyers need to review before bidding.

4. Market Your Property

Good marketing before the auction is extremely important.

We aim to generate interest from:

• Home buyers
• Cash buyers
• Landlords
• Property investors
• Developers
• Builders and renovators

The more genuine interest we can generate before the auction, the greater the potential for competitive bidding.

5. Viewings and Buyer Enquiries

We handle enquiries and arrange property viewings where required.

Potential buyers can inspect the property and carry out their checks before deciding whether to bid.

6. Auction Day

Interested buyers bid for the property.

If the required price is reached and the property sells, the buyer proceeds according to the terms of the auction.

7. Completion

The buyer’s and seller’s solicitors deal with the legal process and completion in accordance with the agreed auction terms.

You receive the proceeds of the sale through your solicitor once the transaction completes.

Traditional or Modern Method of Auction

There are different ways of selling property at auction.

We’ll explain the available options and help you understand which method may be more suitable for your property.

Traditional Auction

Traditional auction can be particularly suitable for:

• Properties requiring renovation
• Investment properties
• Land
• Development opportunities
• Unusual properties
• Sellers requiring a quicker transaction

When a property successfully sells through a traditional auction, the buyer normally enters into a legally binding commitment and pays a deposit.

Completion then takes place within the timescale stated in the auction conditions.

Modern Method of Auction

The Modern Method of Auction generally gives the buyer more time to complete their purchase.

This can make auction available to a wider range of potential buyers, including some purchasers who require mortgage finance.

We’ll explain the timescales, fees and conditions before you decide which option to use.

Selling a Tenanted Property

Auction can be an excellent option for landlords who want to sell a property with the tenant remaining in place.

Instead of asking the tenant to leave and then selling an empty property, it may be possible to sell directly to another landlord or investor.

We can market important investment information such as:

• Current monthly rent
• Annual rental income
• Tenancy information
• Rental yield
• Property condition
• EPC rating
• Potential future rental income

Because Sheffield Estate Agents works in both sales and lettings, we understand how to present investment properties to landlords and investors.

Selling a Property That Needs Renovation

You don’t necessarily need to renovate a property before selling it.

Properties requiring work can be attractive to:

• Builders
• Developers
• Property investors
• Landlords
• Buyers looking for a renovation project

Auction allows the market to compete for the property based on its current condition and potential.

Before spending thousands of pounds renovating, speak to us.

We can help you consider whether carrying out improvements or selling the property in its existing condition is likely to be the better option.

Land & Development Opportunities

We can also help market:

• Building plots
• Land
• Properties with development potential
• Conversion opportunities
• Commercial buildings
• Mixed-use properties
• Investment opportunities

We’ll highlight the property’s potential and market it towards buyers who are actively looking for development and investment opportunities.

Buying Property at Auction

We’re also happy to speak with buyers, landlords and property investors looking for auction opportunities in Sheffield and South Yorkshire.

Before bidding at auction, buyers should understand:

• The condition of the property
• The legal pack
• Auction terms
• Deposit or reservation requirements
• Completion timescale
• Finance requirements
• Additional fees and costs

Buyers should arrange appropriate legal and financial advice and complete their checks before bidding.

Need to Sell a Property Quickly?

Auction could be suitable if:

• You have inherited a property
• Your property needs substantial work
• You’re a landlord selling an investment
• You have a vacant property
• You’re selling land or a development opportunity
• You’ve previously had a sale fall through
• You’re looking for greater certainty
• You need to sell within a defined timescale

Get a FREE Auction Appraisal

Find out whether selling your property at auction could be right for you.

There’s no obligation to proceed.

Speak to Sheffield Estate Agents about your house, flat, investment property, commercial property, development opportunity or land.