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Common property auction questions
Yes, you can sell your tenanted property at auction.
If you are a landlord with a portfolio or a single investment property, selling with tenants in situ allows you to avoid the hassle of evictions and keep generating rental income until the day of completion.
Whether you’re looking to offload one or multiple properties, we recommend talking to our auction team in West Yorkshire. They’re experienced in selling both tenanted and vacant properties, so can advise what you could achieve in either case.
Yes of course. As a standard part of our service, your property will be marketed extensively.
Your property will be listed on:
- Rightmove
- Zoopla
- On The Market
- Auction House
- Manning Stainton
- Ryder & Dutton
- Mortimers
Also as standard, we’ll do the following:
- Internal and external photographs
- Floor plans
- Virtual tours
Not at all! If your property is suitable for auction, you should expect to sell it at the same or higher price than you would achieve through an estate agent.
Properties can sell at auction for higher prices for a few reasons:
- Competitive bidding can drive the sale price up fast
- Auction House’s extensive marketing of the property can build up a large base of interested buyers
Typically, you will complete on the sale within 28 days.
Most properties are entered into an auction 4 – 6 weeks before the auction day. This means your property can be entered into auction and sold within 8 – 9 weeks in total. This is different to estate agents where on average, sales can take 6 months or more.
Yes, this is called the reserve price. Your property will be offered subject to this reserve price, and it is kept confidential between the seller and auctions team.
Your property will never sell for less than this reserve price.
A member of the auctions team will visit your property, inspect it, and talk to you about its suitability for sale by auction. They will ask questions about the property, as well as your circumstances and wishes. You will be provided with advice on the best method of sale, and if it is auction, they will discuss with you the potential selling price and what guide price should be used for marketing.
Yes, you will need to appoint a solicitor as soon as you enter your property into an auction.
It is advisable to choose a solicitor who has experience with property auctions as specialist expertise is required.
Auction House West Yorkshire
Auction House West Yorkshire is the leading auctioneer in the region, the largest and most successful in the Leeds, Bradford and Wakefield area.
We have been auctioneers since 2009 and hold seven multi-lot live streamed auctions each year as well as online auctions every week. We work closely with major estate agents Manning Stainton and Ryder & Dutton – together they help us provide the best service possible throughout Leeds, Wakefield, Pontefract, Harrogate, Bradford, Castleford, Keighley, Halifax and Huddersfield.
Our service is second to none, we are the local experts with auctions of circa 50 lots, mainly residential but we also sell land and commercial properties and a significant number of tenanted investments for landlord clients too. Ring, email or message us and we will be delighted to assist.
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West Yorkshire
First Floor, Caledonia House, Lawnswood business park, Leeds, LS16 6QY
westyorkshire@auctionhouse.co.uk
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Price Information
*Guides are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Additional Fees Information
Please be aware there may be additional fees payable on top of the final sale price. These include and are not limited to administration charges and buyer’s premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.
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