From sceptical to sold: A first-time buyer's success with auction
Hollie and Alex thought auction was too risky for first-time buyers. A few months later, they had the keys to their dream renovation project and are now sharing their experience with friends, family and readers of our Auction Watch magazine.
A Rightmove discovery that changed everything
Like most house hunters, Hollie and Alex started their search online, scrolling through Rightmove. When they spotted a renovation project in their ideal location, it ticked almost every box – there was just one hesitation.
“We actually dismissed it at first because it was listed as an online auction property,” Alex explains. “It felt a bit outside of what we knew.”
Quickly their hesitation turned into confidence as they read through the guides and information.
“The iamsold website was really helpful,” says Alex. “There were videos explaining everything – how bidding works, max bids and the process. It’s actually more like eBay than the kind of stereotypical auction you see on TV.”
The more they researched, the more the picture cleared. This wasn’t a gamble – it was a transparent, secure process with clear timelines and legal protection. By the time auction day arrived, they felt prepared and excited to secure the property they would turn into their dream home.
Alex and Hollie’s hew home, Congleton
- Reeds Rains
- 3-bedrooms
- Semi detached
- Reserve Price: £210,000
- Sale Price: £250,000
- 7 viewings
- 40 bids
Auction day: competitive but controlled
Unlike Private Treaty sales where you might wait weeks for an answer, auction brings a different kind of pace. For Hollie and Alex, that meant watching their progress in real time.
“You don’t actually know how many people you’re bidding against – you just see the price going up,” Hollie explains. “It was definitely stressful, but very exciting at the same time.”
Their strategy was to set a maximum bid and let the system work for them. The auto-bidding feature meant they stayed in control without getting caught up in the heat of the moment.
“The auction went on a bit longer than expected with back-and-forth bids,” says Alex, “but we understood what was happening, so it felt manageable.”
When the timer ran out, they’d won. The property was theirs.
Completing quickly over Christmas
Despite completing over the Christmas period, a time that would typically slow any property transaction, Hollie and Alex say the auction process delivered exactly what it promised.
“iamsold stuck to what they said they would do,” says Alex. “Everything around fees, timelines, and expectations was upfront.”
The auction process offered something they’d seen friends struggle without: certainty.
“We’ve seen friends go through chains collapsing and how stressful that is,” says Alex. “With auction, there’s much more security. Both parties are committed from day one.”
And the speed? What started as a concern became one of the biggest benefits.
“The only delays we had were Christmas and our Solicitors,” Hollie says. “The auction side stuck to the planned timelines, so we completed much quicker than we would have via Private Treaty.”
Their mortgage offer came through in just three weeks, proving how compatible MMoA is with mainstream buyers. The 56-day* completion window gives buyers time to arrange finance, making auction accessible to mortgage buyers.
Would they recommend auction to other first-time buyers?
“Absolutely,” says Alex. “It opened up an opportunity we wouldn’t have had otherwise.”
For Hollie, the advice is simple: “Don’t let the word ‘auction’ put you off. Do your research, and you’ll realise it’s actually less risky than the traditional Private Treaty route.”
To hear more about Hollie and Alex’s auction journey and learn more about the details of buying and selling at auction, read the latest edition of our Auction Watch magazine, filled with information and advice to help you decide if auction can work for you.