Thinking About Buying

A Property At Auction?

Wise Move. Here’s Why.

1

BUYING VIA AUCTION IS FAST AND EASY

Purchasing at auction is simple and seamless - Buyers can only bid in person via the online platform.

2

EXPLORE A WIDE RANGE OF PROPERTIES ONLINE FROM THE COMFORT OF YOUR OWN HOME

We present properties throughout the UK that boast on-point valuations with the vast majority available right away with no upward chain.

3

PURCHASING AN AUCTION PROPERTY IS QUICK AND SECURE

Transparency. For buyer and seller alike it’s important. An auction ensures that both parties are provided with the complete picture – informed from start to end with the hammer signifying a sale agreed (buyers have 28 days to exchange contracts and a further 28 days to complete the transaction which will allow you to carry out mortgages and arrange finance as appose to traditional auctions).

The Bidding Process,

Here’s What To Expect.

STARTING BID

The starting bid signifies a property’s advertised price – this is the value from where the auction will begin.

RESERVE PRICE

The reserve price is the lowest possible purchase price that the vendor will accept for the property. You won’t know this value as it is never published, and it can be subject to change at any point prior to the auction beginning.

What Are You Bidding On?

A conditional lot ties you to the following terms following the close of the auction…

Exchange must be completed within 28 days
A further 28 days is allowed for Completion
A Buyers Premium of 3.5% + VAT of the purchase price or a minimum of £5,000 + VAT of whichever is greater

Questions?

Here are a few that we’re commonly asked.
Bids can be placed before the auction, however it is up to the vendor whether they accept the bid. If you’d like to do this speak with our team.
We accept either debit or credit cards (subject to a 3% surcharge if bidding by credit card), and can accept cleared banking funds on the fall of the hammer. Please note: we do not accept cheques.
Yes, absolutely – in fact, it’s something that we strongly recommend.
Yes, of course – you may even need one if you plan on financing through a mortgage.
A reservation fee is payable on any property to reserve and to hold the property for the necessary 28 days for the exchange and consequent completion.
Following the fall of the hammer you are officially legally bound to a sale. If you pull out of the sale you’ll lose your Reservation Fee.
If your lender has already agreed that the property in question is mortgageable then you can of course buy through one of our auctions. You should however be aware that Unconditional properties are subject to immediate payment of the reservation fee, and as such your finance needs to be ready to move ahead before you bid.
A legal pack is arranged by the vendor’s solicitors to provide essential information prior to the auction. This will include searches, title documents, leases, special conditions and any other important documents that are necessary for the sale to commence.

Ready?

Head on over to our Valuations page

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