Advice on Putting a property into Auction needed please!!!

[daginge]

Hello!
I'm after some advice off anybody who has had some experience on selling a house through auction...I have looked on-line and all I can find are companies willing to take my info + ring me back, which I don't really want to do at the min because I have no idea about how the system goes!
Any help or ideas of how the process works + possible costs involved would be greatly appreciated TIA

[The Builder]

Daggers, in the current slow market, auction is rather a last resort for anything other than "highly desirable" property.
If the auction is for your house alone, then you'll face a bill from the auctioneers even if the house doesn't reach your reserve. The same would apply if it were one of those collective auctions, but possibly not quite so much.
Bearing all that in mind, setting the reserve is crucial. People buy at auctions for bargains and "distress" selling.
Think hard about the lowest possible price you could accept. It may be well above the kind of reserve that would result in a sale.

[Finwoodhill]

The market is very tough at the moment and you probably won't get the price you want through auction as many potential buyers may not be prepared to purchase through this route (or be able to raise the 10% deposit needed when the hammer goes down). Would you not be better putting it on the market with your best local estate agent and doing everything within your power to make it 'oven-ready' for any potential buyer (re-docorate if needs be, tidy the garden etc) Even in the slump house will still sell if they are really well presented and (more importantly)realistically priced.

[daginge]

And sold it we have woop woop!