Buying at auction
With auction you'll benefit from a much faster, secure way of buying property.
The benefits of buying at auction
Fast and efficient purchases
Our routes include the 56-day* Modern Method of Auction, or Traditional Auction, which offers completion in 28-days. Both offer a faster transaction than Private Treaty, which can take over 100-days^.
Added peace of mind
Once you’ve agreed a sale and paid the Reservation Fee, the property is exclusively reserved for you. Unlike Private Treaty where you're often left worrying the seller might change their mind or accept another offer.
Not just for cash buyers
With MMoA there's time to arrange finance, so you can purchase with a mortgage (subject to lending criteria, affordability and survey). Auction is more accessible than before; for first time buyers, or investors.
Clear and transparent process
Our Buyer Information Pack contains material information and other vital details about the property upfront – you can access this straight away, making for a clear and transparent purchase from the very beginning.
Buying at auction is easier than you think
Use our online platform to place bids and view all activity 24/7; you’ll be guided every step of the way by our team of experts. If you have any questions about the process, be sure to take a look at our FAQs below.
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
*Based on standard property. From receipt of draft contracts
^Source: Home Owners Alliance Article 2022
Buying at Auction FAQs
Whilst the Traditional Auction is usually not suitable for those buying with a mortgage, the Modern Method of Auction allows a longer period of time to exchange and complete to enable buyers requiring finance, the time to secure their mortgage. As mortgages are subject to lending criteria, affordability and survey and it is recommended that you discuss your requirements with your lender/financial advisor prior to bidding. Ideally, having a mortgage valuation conducted prior to bidding makes the process a lot quicker and gives you a guide as to your affordability before placing your bids.
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 provides the seller with added reassurance that the sale is likely to proceed smoothly as it reduces the chance of a fall-through. The Reservation Fee also provides the buyer with the same reassurance, as the seller is bound by the same terms of the auction, which means they cannot accept an offer from another party during the reservation period.
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 on the open market. Contact the listing agent to arrange a viewing and iamsold will contact you afterwards to get your feedback.
Latest auction properties
The Guide Price or Starting Bid for each property shows the level at which the bidding will start. These amounts are for guidance only and are not the price that the property is being sold for. This amount may occasionally change during the marketing period. Each Guide Price or Starting Bid has a corresponding Reserve Price. Learn more in our FAQs section.