How to Prepare Your Property for Auction: 7 Essential Steps for Sellers

Selling your home through the Modern Method of Auction (MMOA) can be a fast and efficient way to achieve a sale, but preparation is key to ensuring you get the best possible price.

Unlike traditional estate agency sales, auction buyers expect transparency, speed - and a property that’s ready to go!

Whether you’re a first-time auction seller or already have experience of the process, knowing how to prepare can make a significant difference.

To help you, our Auction Experts team has created a step-by-step guide ensuring your property is auction ready.

Here’s what you need to do:

Step 1: Understand the Modern Method of Auction

Before preparing your home for auction, ensure you understand how the Modern Method of Auction works. Unlike traditional auctions where buyers exchange contracts immediately, MMOA allows them to secure the property with a reservation fee and complete the purchase within 56 days. This appeals to a wider audience, including mortgage buyers, and often increases competition for your home.

Step 2: Get a Professional Valuation

One of the first things you need to do is set the right reserve price and starting bid. This is where The Auction Experts can help. A professional valuation from a member of our team will give you a realistic idea of your home’s market value while ensuring your auction price is attractive enough to encourage competitive bidding.

We will discuss the reserve price and guide price for your property with you. The reserve price is the lowest amount you would be willing to accept for your property and the guide price sits at 10% below the reserve price. This is the price we will market your property at. Once you are happy with the reserve price and guide price, we will issue auction contracts for you to sign and instruct one of our recommended solicitors to prepare your property's legal pack.

Step 3: Gather Essential Legal Documents

Buyers need to make quick decisions in an auction, so having a complete legal pack ready before the auction starts is crucial. This should include:

• Title deeds
• Property information form (TA6)
• Fixtures and fittings form (TA10)
• Energy Performance Certificate (EPC)
• Any warranties or guarantees
• Planning permissions or building regulation approvals

Your solicitor will handle this, but it’s best to be prepared early to avoid last-minute delays.

Step 4: Give Your Property a Mini Makeover

You don’t need a full-scale renovation, but small improvements can make a big impact. We will prepare your property for market by taking photographs, videos, preparing floor plans and gathering all the required documentation before conducting an open house.

Before we take the photographs, make sure you use these effective ways to boost your property’s appeal:

• Front door appeal: It’s the first thing buyers see! A fresh coat of paint or new hardware can instantly improve first impressions.
• Declutter like you mean it: Buyers need to imagine themselves living in the property, so remove any excess furniture and personal items.
• Fix the little things: Leaky taps, broken door handles, and flickering lights can put off buyers who want a move-in-ready property.
• Highlight unique features: If you have an original fireplace, exposed brickwork, beams, or period features make sure they stand out.

Step 5: Stage Your Home for Maximum Impact

Auction buyers make quick decisions, so your property needs to look its best from the moment viewers step inside during the open house.

Consider the following:

• Let in natural light: Open curtains and clean the windows to make rooms feel bigger and brighter.
• Neutral décor: If you have any bold colour schemes, consider toning them down.
• Soft furnishings: Add cushions, throws, and rugs to create a welcoming atmosphere.

Step 6: Market Your Property Effectively

When selling at auction, exposure is key. The Auction Experts will handle marketing across property portals, social media, and email campaigns, but you can help too:

• Be flexible with viewings and open house times: The more people that can view your property, the higher the bidding potential.
• Consider a video tour: This helps remote buyers get a better feel for your home. The Auction Experts offer video as standard!

Step 7: Prepare for Auction Day

During the lead up to auction day, we will monitor your property on our auction platform and advise you of the number of legal pack downloads and how many bidders we have registered.

Auction day is exciting, but a little preparation ensures everything runs smoothly. We will confirm the final number of buyers who have registered to bid on your property, and you can then watch the auction live on our website.

Here’s what to remember:

• Know your reserve price and be ready to make quick decisions.
• Stay in touch with The Auction Experts in case of last-minute questions.
• Keep your property looking great as some bidders may want a final viewing before placing a bid.

Bonus Tips for Auction Success

Want to go the extra mile? Here are some often overlooked but highly effective tips for preparing your property for auction:

• Bake bread or brew coffee before viewings! It might sound cliched, but scent is powerful in creating a welcoming atmosphere.
• Consider a fresh coat of exterior paint the week before auction. It’s a small investment that can add thousands to the final bid.
• Get a pre-auction survey. This can put buyers at ease and increase trust in your listing.

Ready to Sell at Auction? Contact The Auction Experts

Selling your property through the Modern Method of Auction is an exciting opportunity to secure a fast, hassle-free sale at a competitive price.

By following these steps, you’ll put your home in the best position to attract motivated buyers and strong bids.

At The Auction Experts, we specialise in helping sellers like you achieve outstanding auction results. To discuss your auction strategy or list your property with us, get in touch today.

Call us on 0330 179 8180 or email hello@theauctionexperts.co.uk

In the meantime, we’ve answered some of your common questions about preparing your property for auction.

FAQs

How long does it take to sell a house at auction?

With the Modern Method of Auction, sales typically complete within 56 days.

Can I sell my home at auction if it needs work?

Yes! Auctions can attract investors and cash buyers looking for properties to renovate.

What happens if my property doesn’t sell at auction?

The Auction Experts may re-market it, negotiate with interested buyers, or relist it in the next auction event.

Do I have to accept the highest bid?

No, if it doesn’t meet your reserve price, you’re not obligated to sell.

What are the fees for selling a property via auction?

Fees vary, but The Auction Experts offer transparent pricing with no hidden costs. Contact us for details!