1. Steps to Put a House Up for Property Auctions
What do you think is the best way to get a sale in a challenging real estate market? The
property auctioneers would surely tell you that it is choosing to auction a house. It is indeed
the best way to strike a deal if you are in a hurry to dispose the property. If you do appropriate
advertising, you would be surprised to see the crowd that would be generated on the sale date.
There would surely a buyer who would come prepared for a bargain and purchase. If you hand
over the process in the hands of an experienced property auctioneer, he can create a wave and
stir up tremendous interest in your property.
During UK property auctions, if two parties are bidding, the auctioneer would try to get them
bid against each other and bring the price up. Generally there are two types of auctions,
absolute auction and auction with a reserve. The first step towards getting a good bidding is
finding a reputed property auctioneer. You can take the advice from friends or family members
to recommend some. You can also search in the phone book or online for getting some
property auction names. Don’t limit your search in the nearby vicinity as you can find a good
auctioneer in and around the city. Most of them are willing to travel to the place where the
auction takes place.
It is always better to talk to several auctioneers before taking a decision. You need to find out
the various advertising strategies implied by each property auctioneers. Also find out how much
they will charge for you. Do a research on their experience and the track record. The
percentage of the successful sales of the property auction company would also determine their
expertise.
Once you fix with a property auctioneer, the next step is setting a sale date. The auction
company would probably schedule several open houses before the sales date. Hence it is

2. important to make necessary modification to your house and get it ready to show. Potential
bidders would be in attendance during such open houses. Some fresh paint or a little elbow
grease would be enough to bring in an appeal to your house.
It is important to set the reserve price for the auction house. Reserve price would be the lowest
price you are willing to sell your house if things would not turn up accordingly. Take into
account all your expenses before fixing the reserve price. You can seek guidance from a realtor
regarding the current price. However it is always better for you to do proper homework before
fixing the reserve price.
There is no need to get nervous on the day of sales and be present at the auction grounds. You
can relax and go for a vacation as you have already given the responsibilities onto the hands of
UK property Auctions Company. In addition, always remember that you would be protected by
the reserve figure at any cost. It is always wise not to put your property for absolute auction
since the auctioneer’s commission and other expenses would be deducted from the bid
amount.
Source: Property auctions