Method of Sale
Introduction
In the UK, there are three common methods of selling property: private treaty, informal tender, and auction. Each has its advantages and disadvantages depending on your priorities, whether that’s achieving the best price, selling quickly, or reducing uncertainty.
At Sheldon Bosley Knight, our mission is to help you understand which option is right for you, so you can get the best possible outcome when selling your property.
This guide walks you through the different selling methods, how they work, and who they’re best suited for.
If you book a valuation with our team, we’ll discuss your goals and recommend the approach that best fits your property, circumstances, and desired timeline.
1. Private Treaty
The method you're probably most familiar with.
Your property is marketed with a guide price - usually through an estate agent - and potential buyers submit offers. You can then negotiate until two parties agree on a price and the property is sold, subject to contract.
Contracts are exchanged and the sale becomes legally binding towards the end of the conveyancing process, which can take several months.
How It Works
Your property is valued and then marketed to attract interested buyers
Viewings take place and offers are submitted
You negotiate and accept the best offer
Conveyancing begins – the process of legally transferring ownership of a property - and any necessary surveys are carried out
Contracts are exchanged, making the sale legally binding
Funds and ownership of the property are then transferred, completing the sale of the property
Private Treaty Advantages
Access to the widest pool of buyers
Room for negotiation to agree an offer that works for buyer and seller
You can reject unsuitable offers
No deadline – you can keep your home on the market for as long as is necessary
Private Treaty Considerations
Can take several months to complete the sale
Offers can be renegotiated until contracts are exchanged
Risk of the sale falling through before it’s legally binding
Best Suited For
Sellers who want flexibility and access to the widest pool of buyers. Anyone who doesn't need to sell within in a specific timeframe.
2. Auction
An auction involves interested buyers bidding in real time - this can be in the room, online, or via the telephone.
The highest bidder wins, contracts are exchanged immediately, and the sale becomes legally binding.
Completion happens within 20 working days.
How It Works
The property is listed with an auction house and marketed to potential buyers for a period of 4-6 weeks when viewings take place
A legal pack is prepared in advance for buyers to review, containing information about the legal aspects of the property, including the Title, searches and Law Society documents
On auction day, bidders compete in real time and the highest bid wins the lot. You do have the opportunity to set a “reserve” or lowest acceptable price
When the hammer falls, contracts are exchanged, and the buyer pays a 10% deposit (with a minimum deposit of £5,000)
Completion takes place within an agreed timescale (typically within 20 working days)
Auction Advantages
Faster transaction, typically completing within 20 working days
Attracts buyers who are ready to exchange, so doesn’t attract buyers in a chain
Buyers have information on the property’s condition and legal information upfront, attracting more committed buyers
Auction Considerations
The highest bid automatically wins the auction – you have limited say on who you sell to
Best Suited For
Sellers looking for a quick, certain sale, regardless of the property’s condition or the type of property.
Also a good option if the property is vacant, of unique construction, classed as unmortgageable, or in need of renovation.
3. Informal Tender
Less common than private treaty and auction, an informal tender (or sealed bid sale) involves marketing your property for a set period.
Interested buyers submit their best and final offers in writing by a fixed deadline. You then review all offers and choose the most suitable one.
How It Works
1.Your property is marketed for an agreed timeframe
2. Buyers view the property and submit their sealed bids by a set date
3. All offers are reviewed at the same time
4. The seller chooses the preferred buyer and proceeds as with a standard private treaty sale
5. Conveyancing begins and contracts are exchanged once all enquiries have been satisfied
Informal Tender Advantages
Allows the seller to review all offers together
Creates competition and urgency which can attract higher bids
Informal Tender Considerations
Typically attracts fewer potential buyers
Risk of the sale falling through before it’s legally binding
Can take several months to complete the transaction
Best Suited For
Sellers in high-demand areas or with unique properties likely to attract multiple interested parties.
Which method is right for you?
Your choice depends on your goals, timeline, and circumstances.
Each method has its advantages and the best option for you will depend on what matters most.
Speed
If you need to sell quickly — for example, you’re relocating, downsizing, or have already found your next home — an auction can deliver a fast, fixed timeline.
Properties often complete within a few weeks, which means no long waits or fall-throughs.
Certainty
Auctions provide immediate commitment once the hammer falls. Contracts are exchanged straight away, and the buyer pays a deposit or reservation fee. That means no risk of gazundering or last-minute changes and less chance of the sale falling through.
Purchasing and Selling
If you’re looking to tie your sale in with the purchase of another property, private treaty is often the most appropriate method of sale as you’re not bound to complete within a strict timeframe.
Private treaty allows for any delays within the conveyancing process - especially useful when you’re in a property chain and need more flexibility on timings.
Financial Focus
An auction can reduce holding costs (like mortgage payments or council tax) by speeding up your sale, while a private treaty lets you aim for the highest achievable price through negotiation.
Competitive bidding at an auction can also drive the price up and our team can advise on which they think will work best for your property.
When you book a free valuation with Bayzos, your local valuer will help you assess your property, circumstances, and timeline, then recommend the route that will help you achieve your goal.
Next steps
Book your free valuation – Our experts will assess your property and talk you through your options.
Discuss your priorities – Whether you need speed, certainty, or flexibility, we’ll create a strategy that works for you.
Prepare your property – We’ll help you get market-ready with professional marketing and presentation tips.
Choose your method – Once you’ve decided, our team will handle the process from start to finish.
Ready to find out which method is best for you?
Final message from the team
Selling your home doesn’t have to be confusing. Each method comes with its own benefits and the right choice depends on your situation.
At Sheldon Bosley Knight, we don’t believe in a one-size-fits-all approach. Our role is to offer tailored advice so you can move forward with peace of mind and get the best possible outcome from the sale of your property.
Thank you for reading.
The Sheldon Bosley Knight team
Disclaimer:
The information in this guide is provided for general information purposes only and does not constitute legal, financial, mortgage, tax, or professional advice.
While we aim to keep the information accurate and up to date, Sheldon Bosley Knight Limited makes no guarantees or warranties regarding its accuracy or completeness.
You should always seek advice from a qualified solicitor, financial adviser, mortgage broker, accountant, or other relevant professional before making any decisions based on this information.
Sheldon Bosley Knight Limited accepts no liability for any loss or damage arising from reliance on this guide.