Sell your home at auction
Contact a member of our sales team to discuss selling your home at auction
Luke Miller has partnered with MyBid4It, the UKs leading online property auctioneers. Selling your property online is an efficient way to achieve a quick and secure sale.
Benefits of selling your home through our online auctions
0% Estate agency commission. The purchaser pays our fee.
Competitive bidding will ensure you achieve the best possible price for your property.
Undisclosed reserve prices set separately to your marketing price so you achieve the price you want.
Funds received within 42 days of the close of the auction.
Reduced fall through rate thanks to extensive buyer vetting and non-refundable reservation fees.
Our experienced sales team and our preferred legal experts will guide you through the auction process.
How selling your home in an online auction works
Set your price
A member of the Luke Miller team will help you set the price of your home.
Our team will prepare all your property details, take photographs of your home, and arrange the EPC (charges apply) if required.
We will put you in touch with our recommended legal team to prepare your Auction pack. This is priced at £450 inc VAT, and is only payable on completion of the sale.
Luke Miller will begin to advertise your property to generate the maximum level of exposure and interest.
At a set time and date, your property auction goes live and bids can be placed. You will recieve regular updates about bidding. Potential buyers will have 15 minutes to bid on your property, with an extra minute added for any bids placed within the final minute.
Once the process ends, the successful bidder pays the auctioneer a 2.5% fee (minimum £4000). Your legal team will work to complete the sale within 42 days.
Frequently Asked Questions
Is my property going to sell?
A member of our team will carry out research in order to discuss the best pricing strategy for your property and how to maximise interest.
Do I have to accept the highest bid for the property?
Yes, subject to verification.
Can I accept bids outside of the live bidding process?
Yes, you can accept a bid before the live bidding has commenced (some rules apply). We will send all offers we receive, it is then for you to decide if you wish to accept the offer and remove the property early.
Is the bid binding?
The buyer must transfer a non-refundable reservation fee within 24hrs of placing the winning bid. The bid is not legally binding until exchange of contracts.
How quickly will I have to move out?
When the live bidding process closes the winning bidder has 42 days to complete the purchase, by which time you will need to move out of the premises.
How do I get paid?
You will receive the full amount of the winning bid minus any fees. All agents fees will be settled by the buyer.
You will need an Auction Pack for you property. The pack contains important information about your property that a potential buyer will want to know before deciding to bid.
If our appointed legal team prepares your auction pack (£450 inc VAT), it will include:
- Property Information Questionnaire
- Local Authority Search
- Water & Drainage Search
- Environmental Search
- Title Plan & Register
- General Terms & Conditions
- Fixture & Fittings
- Leasehold pack (if property leasehold)
- Any Special Conditions
- EPC (Energy Performance Certificate)