When we were asked to appraise this large HMO some nine weeks before the eventual sale, it was clear that this Lot required specialist attention. HMOs have been increasingly difficult to sell via all sale methods, including auctions. Our client had worked hard to create a successful 22-bedroom HMO in good order with a professional managing agent with detailed accounts and copies of tenancy agreements for each room. Generally, it is always the best advice to focus on the live auction. In this case, it was a strategy based on the potential of a successful pre-auction bid. The Lot had two live auction attempts, with the winning pre-auction bid before the third attempt following a tactical reduction of the guide price from £800,000 to £700,000. The final piece was the 40 business completion timing which gave the bidding market the confidence that they could raise finance before completion.