Methods of selling a property

There’s more than one way to sell your home — let us help you choose the right one.

Selling your property can feel like a big decision — and it is. But the process doesn’t need to be overwhelming. Depending on your goals (speed, certainty, price, or flexibility), there are several different methods to consider. At My Letting Group, we guide you through each option, clearly explaining the pros and cons so you can make a confident decision.

Below are the four main ways to sell your property in the UK:

1. Private Treaty (Traditional Sale)

This is the most common and widely understood method of selling a property. The seller lists their home at an asking price, and the estate agent markets it to potential buyers. Interested parties make offers, and the seller can choose to accept, reject, or negotiate. Once an offer is accepted, both sides instruct solicitors and begin the conveyancing process.

Key Features:

  • Flexible timeframes
  • Room for negotiation
  • Offers are not legally binding until contracts are exchanged

Ideal For:

  • Residential homeowners who are moving on
  • Sellers who aren’t in a rush
  • Properties in good condition with broad market appeal

Considerations:

  • Sales can fall through before exchange
  • Completion can take 8–16 weeks or longer
  • Uncertainty around buyer commitment


2. Auction Sale

Auctions offer a faster and more decisive route to sale. Properties are marketed to a pool of pre-qualified, often cash-ready buyers. On auction day, bidding takes place in real time. Once the hammer falls, the sale is legally binding — with a deposit paid immediately and completion usually required within 28 days.

Key Features:

  • Legally binding sale on the day of auction
  • Buyers must be fully prepared — with finance, surveys, and searches completed in advance
  • Competitive bidding can push up the final price

Ideal For:

  • Properties requiring renovation
  • Probate sales or vacant properties
  • Homes with legal or structural complications
  • Land or development opportunities

Considerations:

  • Upfront costs for legal pack and marketing
  • Not ideal for buyers relying on mortgages
  • If there is little competition, the property may sell below expectations


3. Informal Tender (Sealed Bids)

This is a more discreet and controlled method where no fixed asking price is given — only a guide. Interested buyers are invited to submit sealed offers by a set deadline. All offers are opened at the same time and reviewed by the seller. There is no obligation to accept the highest offer, and the sale only proceeds once contracts are exchanged.

Key Features:

  • Encourages fair competition
  • Gives the seller more control over choosing a buyer
  • Buyers can be evaluated based on speed, financial strength, or conditions

Ideal For:

  • Homes with multiple interested parties
  • Properties in sought-after locations
  • Sellers looking to discreetly test the market
  • Properties requiring refurbishment

Considerations:

  • Offers are not legally binding
  • Buyers may withdraw after survey or legal checks
  • Requires strong marketing to build competition


4. Formal Tender

Formal tender is more structured and legally rigorous. All interested buyers must submit a legally binding offer by a deadline, along with a signed contract and deposit (often a banker’s draft). Once a bid is accepted, contracts are automatically exchanged, and the buyer is legally obligated to complete.

Key Features:

  • Immediate legal commitment from buyer
  • Competitive process
  • Ensures only serious buyers submit bids

Ideal For:

  • High-value or specialist properties
  • Land and commercial sales
  • Sellers who need a guaranteed outcome

Considerations:

  • Rarely used for residential sales
  • Requires detailed legal preparation
  • Can be intimidating for regular homebuyers

Which Method is Best for You?

Every property has a story — and so does every seller. Whether you need to move fast, unlock equity, downsize, sell an inherited home, or deal with a challenging property, My Letting Group is here to help.
We don’t just offer advice — we offer options.

Free Property Consultation
No-Obligation Valuation
Tailored Selling Strategy
Access to Fast Cash Buyers, Auctions & Investor Networks

 

Ready to Explore Your Options?

Contact us today for a confidential chat. We’ll guide you through your choices and help you find the method that gets your property sold — on your terms.