What is the process of buying a property at auction?

Buying a property at Auction is different to buying through private treaty (standard route of buying), therefore, we have created a handy infographic to help you understand the process.

Searching & viewing a property

Searching for a property can be done on our website, on property portals such as Rightmove & Zoopla, on the I Am Sold website and in branch.

It is recommended to view any property that you are considering buying and this is no exception for auction properties. Viewings can be requested online or by calling the branch.

What is the buyer information pack?

If you like the property following your viewing and would like to place a bid, you must carry out your own due diligence before proceeding. You will be provided with a buyer information pack which has a wealth of information on the property you are looking to buy.

Want to speak to one of our auction experts? Contact your local branch today.

Are there different types of auctions?

Yes, there is a traditional auction route and the modern method of auction. The biggest difference between the two, is in a traditional auction the exchange of contracts happens as soon as the auction ends. Whereas with the modern method, a more flexible timescale of 56 days is offered.

How do you bid in a property auction?

You can usually do this online, over the phone or in person. Online you can see information such as the current bid, the number of bidders and you can set a maximum bid where the system will bid on your behalf.

What happens after you have won the auction?

If you have won a traditional method of auction you will have 28 days to complete, if you have won a property through the modern method of auction, you will have 56 days to complete. For both types of auction you will need to pay a deposit or fee to reserve the property, complete an identification process, instruct solicitors and produce evidence of funds.

The Sales progression team will then take the sale through to completion.

Buying a Property at Auction is different to buying through private treaty, we have created a helpful infographic to help you understand the process.

We also have a handy infographic about Selling your Property at Auction.

Guide to Selling

If your looking to sell a property at auction, then our guide might provide some useful tips for reference.

Guide to Selling

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Get in Touch

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