Struggling to Sell Your Property?

The auction process works to fast and fixed timescales, depending on the method of auction used.

• Traditional auction: contracts exchange immediately when the hammer falls, with completion set within 28 days.
• Modern method of auction: exchange takes place within 28 days of the hammer falling, with completion within a further 28 days.

At Whoobid, we typically run a 6-week marketing cycle before the auction date to build interest in your property. However, buyers can also submit pre-auction offers. If you choose to accept one, the sale proceeds under the same legally binding timescales as if it had sold on auction day.

In fact, 59.1% of the properties that sell, do so before their scheduled auction date. Meaning you could secure a buyer in as little as one day.

It depends on your priorities. Selling through a private treaty estate agent can sometimes achieve a higher asking price, but it often takes longer and there is always the risk of sales falling through.

Auction, on the other hand, offers speed, certainty and transparency. Once the hammer falls, the sale is legally binding, which means there is far less chance of delays or complications. Many sellers choose auction because they value the security of a guaranteed buyer and a fixed timescale, rather than waiting months for a private sale to progress.

At Whoobid, we guide you through both the advantages and considerations of auction, helping you decide if it’s the right route for yourself and your property.

With Whoobid Property Auctions buyers pay the fees. The only upfront cost to a seller is our auction administration fee of £299 (inc. VAT).

You’ll also need a solicitor to produce the auction legal pack. If you use your own solicitor, they may charge for the preparation of this pack. However, if you choose our affiliated solicitor, the auction pack is produced free of charge.

As with any property sale, there will also be solicitor’s fees for handling the conveyancing process. These are comparable to the costs of a standard sale and are usually paid upon completion rather than in advance.

Yes. When selling at auction with Whoobid, you set a reserve price before the property is listed. This is the minimum figure you are willing to accept, and your property will not sell for less than this amount.

The reserve price gives you full control and peace of mind, while still allowing competitive bidding to drive the final sale price higher.

Yes. Selling a tenanted property at auction is often a smart option, as many investors are actively looking for buy-to-let opportunities. A property with reliable tenants already in place can be highly attractive to buyers who want immediate rental income from day one.

At Whoobid, we regularly sell tenanted flats, houses and commercial properties, giving landlords a fast and secure route to sale while ensuring the tenancy continues smoothly under the new owner.

Yes. Selling an inherited or probate property at auction is often one of the quickest and most straightforward ways to achieve a secure sale. Auctions provide full transparency for all parties involved in the probate process and help avoid the lengthy delays that are common with private treaty sales.

What many sellers do not realise is that property trader buyers can benefit from Stamp Duty Land Tax (SDLT) relief when purchasing probate properties. This makes probate homes particularly attractive at auction, often leading to stronger competition between buyers and higher final sale prices.

Not at all. While auctions can be a good route for selling repossessed or renovation properties, they are also widely used by homeowners looking for a faster and more secure way to sell.

Auctions attract a wide range of motivated buyers, which means you don’t need to have a “problem property” to benefit from the process.

No, there is a common misconception that selling at auction means letting your property go cheaply.

In reality, auctions are often chosen because the process is much quicker, more transparent and more secure than selling via private treaty. This makes them an excellent option for sellers who want speed and certainty, over achieving the best price but not exclusively so.

The competitive nature of the bidding can push the final sale price higher than expected, with many properties achieving strong market values.

The main difference is in the timescales for exchange and completion.

• Traditional Auction
  Exchange of contracts happens immediately when the hammer falls.
  Completion takes place within 28 days.
  Best suited to cash buyers and those ready to move quickly.
• Modern Method of Auction
  The winning bidder pays a reservation fee when the hammer falls.
  They then have up to 28 days to exchange contracts, and a further 28 days to complete.
  This gives mortgage buyers more time to arrange finance, widening the pool of potential buyers.

At Whoobid, we’ll advise on the best method for your property and circumstances. Both provide speed, transparency and security compared to private treaty sales, with the Modern Method offering more flexibility for buyers and the Traditional Method delivering a faster, fixed turnaround.