Selling at Auction

The costs, plainly

Item	Amount	Paid to
Our fee	0.8% of the sale price, minimum £1,800	Us, on completion
Marketing fee	From £300, payable on instruction. Deducted from the agency fee on completion; not refunded if the sale does not proceed	Us, on instruction
Auction sales pack	Quoted by Trent Law Solicitors before marketing	Trent Law Solicitors
Auctioneer's fee	Depends on the platform. Sometimes a seller fee, sometimes carried by the buyer within a reservation fee or deposit	The auctioneer, directly

Which platform we recommend depends on the property, and the auctioneer's charging model differs between them. Before anything is marketed you receive one written note naming the platform, its fee, who pays it, the sales pack quote, our fee and the marketing fee, so the whole cost of the route is on one page before you commit.

Traditional auction: exchange on the fall of the hammer

The traditional, unconditional method: the winning bid is an exchange of contracts there and then, the buyer pays a deposit, normally 10%, on the day, and completion follows on a fixed date, typically 28 days later. It is the strongest form of certainty a seller can buy, which is why lenders, executors and landlords selling tenanted stock favour it. The price discovery is honest too: competitive bidding in the open, against a reserve you set and we agree together.

Conditional auction: the modern method

The conditional method gives the winning bidder a reservation period, commonly 28 days to exchange and a further 28 to complete, in return for a non-refundable reservation fee. It opens the auction to mortgage buyers, who need time a traditional auction does not give, which usually widens the field for ordinary residential stock. The trade is a longer timetable and a result that is binding in practice but not an instant exchange. The detail varies by platform, which is exactly why the written note comes first.

The sales pack, and why it decides the result

Serious bidders read the legal pack before the auction, and an incomplete pack costs money: every unanswered question becomes a discount in someone's bidding limit. Trent Law Solicitors prepares ours, title, searches, replies to enquiries, tenancy and licensing papers where they apply, so bidders can commit without fear. Their fee for the pack is quoted to you before marketing, and our clients pay 10% less than their standard quote.

Is auction right for your property

Often it is not, and we will say so. A well presented family home in a strong street usually makes more through a normal sale. Auction earns its place where speed and certainty are worth a margin, where condition or tenure frightens mortgage lenders, or where the market genuinely cannot price the property and open bidding will. The appraisal is free and the advice is straight: private treaty, traditional auction or conditional auction, with the reasoning in writing.

Questions we are asked

What does selling at auction cost? +

Our fee is 0.8% of the sale price with a £1,800 minimum, including any VAT, the same as a standard sale, together with a marketing fee from £300 payable on instruction, which is deducted from the agency fee on completion and is not refunded if the sale does not proceed. Trent Law Solicitors quotes separately for the auction sales pack, and the auctioneer charges its own fee, paid to them directly. Every figure is put to you in writing before marketing begins.

What is the difference between traditional and conditional auction? +

Traditional auction exchanges contracts on the fall of the hammer, with a deposit that day and completion typically 28 days later. Conditional auction gives the winner a reservation period, commonly 28 days to exchange and 28 to complete, in return for a non-refundable reservation fee, which lets mortgage buyers take part. Traditional buys maximum certainty; conditional usually widens the bidding.

Who pays the auctioneer? +

It depends on the platform. Some charge the seller, some are paid by the buyer through a reservation fee or within the deposit. We name the platform, its fee and who carries it in writing before your property is marketed.

What is a reserve price? +

The figure below which the property cannot sell. We agree it with you before the auction and it stays confidential. The guide price is the marketing figure and is set close enough to the reserve to be honest.

Do I need the legal pack before the auction? +

Yes, and it is worth doing properly. Bidders price the risk they find in the pack, so a complete pack, prepared by Trent Law Solicitors, protects your result. It is the one part of an auction sale worth spending on.