How to sell your home through online auction
Selling a property can be a stressful and prolonged process for everyone involved. However, increasingly homeowners across the UK are turning to the Modern Method of Auction (MMoA) to help get them moving faster, thanks to its enhanced speed and security.
According to recent Rightmove data, it currently takes an average of 150 days to reach completion to sell your property via Private Treaty (the way most people buy and sell their homes), compared to a 56 day* completion timescale via the Modern Method of Auction (MMoA).
See below for our 5 top tips to boost your chances of speeding up your house sale and reaching that all-important completion day.
Do your Estate Agent research
Researching an Estate Agent that understands your expectations and whom you can trust is step number one. Recommendations from neighbours will demonstrate that they already understand your area. Additionally, look for positive Trustpilot and Google Reviews that talk positively about the agency, perhaps even mentioning someone by name directly that you can build a relationship with at the branch. Think about how you like to communicate. Would you prefer email updates that you can answer in your own time or are you a fan of a phone call, or an online system you have access to and can track the process? Don’t be afraid to be clear about your preferences and your circumstances from the very start.
Get cleaned up
If you are looking to sell your home, make sure your home is ready for the all-important listing images. Cluttered spaces are likely to put off any potential buyers, and often hide the potential in homes. In the interest of speed, there’s no need to crack out the magnolia paint, but keeping things tidy and clutter-free makes it easier for a potential buyer to see themselves living in your property.
Get your financials in order
You need to ensure you’re financially in shipshape and proceedable as a seller. It’s easy to get carried away and focus on the selling process, however the same amount of attention should be spent on your next step on the property ladder. Get to know your credit score, address any concerns, make sure you’re on the voting register and, if you’re buying on, get your mortgage in principle sorted. Make sure you’re also looking at properties and in a position to make your own offers.
Consider alternative options
In May 2023, Rightmove revealed that average completion took 21.5 weeks – yikes! You can get around these timescales by considering other ways of selling, including MMoA. This method of sale offers completion timescales of 56 days* and is growing in popularity amongst buyers and sellers. It has a 95% completion rate, versus an average 30% fall through for Private Treaty sales^. With the hugely popular property portal Rightmove now highlighting properties that are available by auction, more buyers are becoming aware and confident with this method of purchase.
Remember where you put THAT important piece of paper
Going paperless has been great for the environment, but when it comes to selling your home, you need to be meticulous about your paper trails. Alongside your Mortgage Information From your financial clean-up, you’ll need ID documents, Title Deeds, Fitting and Contents Form, Property Information Form, Energy Performance Certificate (EPC), Freehold or Leasehold documents and, if you’ve had work done, planning permission documents and original drawings. The more information the better and it’s worth having a digital and hard copy of these documents. The good news is when choosing MMoA, all this information is included upfront in the Auction Pack that you provide to prospective buyers. This means it saves you a huge amount of time on completion and is one less thing for you to think about!
Selling your house can be a daunting task, however, with a bit of organisation and open-mindedness, you can take the stress out of selling and be picking up your keys to your new home in no time.