Selling a house or flat at auction: how do we auction off our house and how easy is this to do?

Question: We moved abroad a year ago for work and our London home has been on the market ever since.

We've lowered the price twice but our estate agent says that because of the current political uncertainty we need to lower a lot to find a buyer.

But we could do that and still not find one, so we're thinking about auctioning it instead. How easy would that be?

Answer: Some estate agents are also auctioneers but if yours are not, they may be able to suggest reputable local property auctioneers who will advise you on your property's value, the guide price and the reserve price for auction.

If you are happy with the figures you should appoint a solicitor to work with the auctioneers, as an auction contract will be needed which includes particulars of sale describing the property, conditions relating to the terms of the sale, and a memorandum which will be signed by or on behalf of the buyer at the auction.

Your solicitor should also prepare a legal/auction pack to accompany the auction contract containing title documents, replies to general enquiries, a local authority search, a drainage and water enquiry, an environmental search plus any other searches relevant to your property, for example, a flood risk report.

The auctioneer will provide interested buyers with copies of the contract and auction pack prior to the auction. Your solicitor should attend the auction to answer any queries from prospective buyers.

At the auction the contract will be made when the auctioneer accepts the highest bid offered. In general, completion takes place 28 days after that.

These answers can only be a very brief commentary on the issues raised and should not be relied on as legal advice. No liability is accepted for such reliance. If you have similar issues, you should obtain advice from a solicitor.

If you have a question for Fiona McNulty, email legalsolutions@standard.co.uk or write to Legal Solutions, Homes & Property, Evening Standard, 2 Derry Street, W8 5EE. Questions cannot be answered individually, but we will try to feature them here.

Fiona McNulty is a solicitor specialising in residential property.