How much does it cost to sell a property at auction?

ARE YOU THINKING OF SELLING AT AUCTION
BUT WONDER HOW much it will cost?

You will hopefully have seen we have recently decided to scrap our sellers fee, for a limited period only sellers no longer pay anything to us for selling their property. When a property sells it is the buyer who pays our fee. What does this mean to you though if you are thinking of selling your house at auction? Does £0 sellers fee mean you pay nothing?

There are a few things you will still need to pay for.  We work closely with a number of companies who will be able to assist you with these,  if you don’t have a company in mind and want some help finding them then just let us know.

So, what is it I need to buy before putting it to auction?

First of all, you need a Home Report and EPC.  If you’re property is already on the market and you have a home report don’t worry, we can still use that one.  If, however you are bringing a property onto the market you will need to buy one. The cost of home reports can vary depending on the size, cost and location of your property however a starting point would be around £300, please do not quote us on that however, it is just a guide.

The next thing you will need to do is speak to a solicitor so a Legal Pack can be created.  When someone buys at auction due diligence should be done prior to offering.  This is one of the reasons your sale is much less likely to fall through after the offer is accepted.  By providing a legal pack, this is allowing prospective buyers to do all their necessary research.  Prices for the creation of a legal pack are likely to start at around £200.

Lastly, once your property has been to auction and a sale price has been agreed as is the case with Scots Law, you will need a solicitor qualified in Scots Law to do the conveyancing.  Conveyancing costs again can vary from firm to firm however I would expect you would be able to find a firm to do this for you starting around £500.

Looking for more information
About selling at a property auction?

We’ve put together the following guides to help you find out everything you need to know about selling your property at auction: