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Take a quick look at how the process of buying at auction works. Understand more about selling your property at auction with everything you need to know to get started. We're the UK's largest residential auction provider and the number one online property auctioneer.
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Your Buyers Guide to Auction. Buying at auction couldn't be simpler. Find a property you love and arrange a viewing – then it's time to place a bid. Register online or speak to one of our specialists for more guidance. Download our guide.
- How much does it cost to sell at auction? You’re likely be charged an entry fee to cover the costs of listing your property in the auction catalogue and a commission fee if your property is sold, either calculated as a percentage of the sale price or as a flat fee.
- How much does it cost to buy at auction? The cost of buying a house can vary enormously. ‘ There’s something for every budget at auction; whether you’re looking for a bargain or something spectacular,’ says Jamie Cooke, ‘At iamsold.co.uk, our highest value sale was £1.3m and the lowest was land for £300!’
- How do you make a bid? Each property will be listed with a guide price. The seller will also have a reserve price, kept confidential, detailing the minimum they are willing to accept.
- How do you pay for an auction home? The traditional method of auction is when the property is auctioned to ‘in-room’ bidders, as well as online, telephone and by proxy.
With every auction there is a Starting Bid. This is the price published for each property and confirms the level at which the bidding is suggested to begin. Starting Bids are for guidance only, they are not the price that the property is being sold for.
- A Reservation Agreement is a signed commitment between the buyer and the seller to complete the transaction, reducing the risk of a sale falling th...
- A Reservation Agreement is a signed commitment between the buyer and the seller to complete the transaction, reducing the risk of a sale falling th...
- Whilst the Traditional Auction is usually not suitable for those buying with a mortgage, the Modern Method of Auction allows a longer period of tim...
- Before you place a bid, you should carry out due diligence on the property and review all documentation, including the Auction Terms & Conditions,...
- Auction is best suited to those not in a chain. You need to ensure you are able to complete the purchase within the timescale detailed in the Aucti...
- A non-refundable Reservation Fee is required from the winning bidder as a way of securing a property to them for the reservation period. It also pr...
- A Buyer Information Pack contains essential information that you can review when completing your own due diligence prior to bidding on a property....
- As a business we pride ourselves on best practice and Compliance which is especially important in the property industry with financial transactions...
- Absolutely, we work in partnership with the listing agent who will facilitate a viewing in exactly the same way as a viewing on a property for sale...
- Automatic Bidding is offered in case a bidder is unable to watch an auction end and place further bids for themselves. Automatic Bidding requires y...
Have you ever thought about buying your next home at auction? Auctions are a great way to avoid lengthy and uncertain buying procedures and bag yourself a bargain. We have put together our essential points to consider when buying a property at auction.
Aug 19, 2024 · How do I register and what ways can I bid at a property auction? Savills offer three methods of bidding: Telephone: a member of the auctions team will call you live in the auction room and you instruct us to bid for you. Internet: this allows you to view the auction live and bid online in real time.
Proxy Bidding – A member of the Auction House London team will bid in the room for you on auction day. Register to bid. Internet bidding – Once the form is submitted and payment has been made you will be able to bid alongside the live stream. Register to bid.
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