Benefits Of Selling At auction

• Speed: For homeowners in a hurry to sell, selling a house at auction can be much quicker than selling on the open market. The whole process, from registering with an auction house to completion of the sale, can take place within two months.
• Certainty: You also have the benefit of knowing that once that hammer falls, the contract is legal and binding. The contract of sale comes into force as soon as the gavel falls.
• Best price: The auction format lets bidders drive up prices, and often a close enough market price is achieved. There is a myth that houses get sold at large discounts at auctions. This is simply not true. When taking into account all the costs associated selling through an estate agent (average of 9 months of mortgage payment, council tax, etc.) the price achieved by the auction comes very close to net price achieved via estate agents.
• Integrity: You won't be messed around by buyers and estate agents. There's no room for re-negotiation or gazumping.

It used to be rundown houses that were suited for auctions. Not anymore! Nowadays, more and more people have discovered the benefits of using auctions instead of estate agents. Full comparison between selling at auctions vs selling with estate agents.