Property auctions

[NiallsMama]

Does anyone know in layman's terms how does selling a property at auction work?
If my house is not selling at current advertised price of 100k how much do I reasonably expect to make if I "send it" to auction? i.e. what fees etc. are involved and what do I have to do personally?
TIA

[wildwood]

You really need to contact a few real estate agents to get some accurate info. There is some discretion as to fees. They are supposed to do everything. One can never guess with any accuracy what a property will bring at auction, but the agents will have a better idea then you. YOu can set a reserve so you don't sell below your minimum.

You'll be expected to keep the property in pristine condition when the clients are taken through to view prior to the auction.

[ladybirder]

Wildwood, pristine condition you must be joking. I have seen some horrors.
Nialls you will probably be better off finding out why your house is not selling. Get the opinion of a few estate agents. If your house is not selling it is probably priced too high. I doubt you will make more at an auction. Has it been on the market long?

[wildwood]

I know ladybirder, but a messy house is likely to attract bargain hunters so it is to the vendor's advantage to show the property off to it's full potential. A well kept property is much more likely to attract better bids than messy ones.

Messy properties are often viewed as deceased estates that are sold for a bargain price.

[The Builder]

I'm sure you've given this a lot of thought, Mama, but auction it only as a last resort.
In the current poor market, people with cash are trawling for cut-price property. If it has had no interest so far, then bidding is likely to be low......... to you, insultingly low :o(
Resorting to auction to "force" a sale just doesn't work in a lot of cases. If you set a reserve of, say, £90k .......... you'll probably get bids between 50 and 70, and you'll be stuck with a bill for the auction (unless there's some arrangement over no sale-no fee, which is unlikely)

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