To ask if you have experience of the Modern Method of Auction?

[Flossyfloof]

I am selling my house and one of the agents who have valued it are strongly pushing the modern method of auction. If you have used it or decided to go with the usual method instead I’d be very interested in your experience please.

I wouldnt touch it with a barge pole. Is it Connells you are selling with? They seem to push it down here. And of course they would as they get a massive fee for doing fuck all.

Why would I pay a non refundable deposit before any legals or surveys have been done.

Also with the market in a lot of areas slowing down a little bit I would think this will just make people look at other properties instead of yours.

Just stick it on as a normal listing with a decent price and you wont have any issues.

There’s a house nearby listed as being sold via modern method of auction. It’s been on the market for months (in a still somewhat fast paced market).

We actually like the look of the house but a £6k up front fee is completely putting us off.

There is no way I’d go near a house sold this way.

It might just be me, but if I were house hunting I wouldn't even look at auction properties.

You'll be seriously limiting your buying market, and I suspect the final price will reflect this.

I'd also say that people who are buying avoid these.

forums.moneysavingexpert.com/showthread.php?t=3090250

A lot of warnings from buyers on this thread.

If you need to sell, price it sensibly (not the overpriced figure the estate agent told you it's worth to get you to sign their contract), be flexible with viewings, and most of all get the place looking nice. If it's a shit hole you are selling you would probably be better going a traditional auction method.

If you dont need to sell but want to sell and can take longer over it, still price it sensibly but maybe a bit higher than a quick sale and see how it goes.

Agree with pp, price sensibly, use a decent high street agent rather than an Internet cowboy, and advertise a price.... No offers above / auction nonsense. It'll sell if its priced correctly.

Modern method of auction is a legal estate agent scam.

Very helpful thank you everyone. It isn’t a wreck but it really could do with a new kitchen. I am putting in new carpets throughout and have redecorated. It’s definitely not an obvious auction property.