Auction Guide

Everything you need to know about buying and selling at auction

Your Complete Auction Guide

Whether you're new to property auctions or an experienced investor, our comprehensive guide will help you navigate the auction process with confidence.

Guide for Buyers

Buying at auction can be an exciting and rewarding experience. Here's what you need to know:

Before the Auction

  • View properties in person whenever possible
  • Download and read the legal pack thoroughly
  • Arrange financing before the auction day
  • Set a maximum bid and stick to it
  • Consider a survey or additional inspections

During the Auction

  • Arrive early and register to bid
  • Listen carefully to any announcements
  • Bid clearly and confidently
  • Don't get carried away in the excitement

After the Auction

  • Be prepared to pay the deposit immediately
  • Arrange buildings insurance right away
  • Complete the purchase within the specified timeframe (usually 28 days)

Guide for Sellers

Selling at auction can offer speed, certainty, and potentially higher prices. Here's how to make the most of it:

Before the Auction

  • Choose the right auctioneer with experience in your property type
  • Set a realistic reserve price
  • Prepare all legal documents in advance
  • Ensure your property is presented well for viewings

Marketing Period

  • Work with the auctioneer on effective marketing
  • Be available for viewings
  • Provide all information potential buyers might need

After the Auction

  • If sold, the buyer's deposit secures the sale
  • Completion typically occurs within 28 days
  • If unsold, discuss next steps with your auctioneer

Advantages of Property Auctions

For Buyers

  • Transparency - The entire process is open and fair
  • Speed - Completion typically within 28 days
  • Certainty - No risk of gazumping or chain collapses
  • Potential Value - Opportunity to find properties below market value
  • Variety - Wide range of properties often unavailable on the open market

For Sellers

  • Speed - Quick sale with fixed timescales
  • Certainty - Once the hammer falls, the sale is legally binding
  • Competitive Bidding - Can drive prices higher
  • No Chain - Reduces risk of sale falling through
  • Set Your Terms - You define the conditions of sale

Types of Auctions

Traditional Auctions

The classic in-person auction where buyers gather in an auction room and bid in real-time. The property is sold to the highest bidder when the hammer falls.

  • Exciting atmosphere
  • Immediate, legally-binding results
  • Face-to-face interaction
  • Requires presence at a specific time and location

Online Auctions

Modern auctions conducted entirely online, allowing buyers to bid from anywhere in the world over a set timeframe.

  • Convenient bidding from anywhere
  • Extended bidding period (often 14-30 days)
  • Time to consider bids carefully
  • Same legal security as traditional auctions

Hybrid Auctions

Combining elements of both traditional and online formats, offering flexibility and the benefits of both worlds.

  • Live-streamed traditional auctions
  • Option to bid in person or remotely
  • Greater accessibility
  • Enhanced buyer engagement

Ready to Experience Property Auctions?

Whether you're looking to buy or sell, our expert team is here to guide you through every step of the process.

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