Buying at auction.
Your next opportunity.

Auction properties can suit home movers, first-time buyers and investors. Check the individual listing and speak to your solicitor about the terms before bidding. The property, your finances and the auction conditions determine whether a purchase suits your plans.

Arrange a viewing through the contact on the property listing before you bid. Take time to assess its condition and surroundings. If you need a survey or specialist inspection, arrange access with the agent in advance; a viewing is not a substitute for professional advice.

A mortgage may be possible, subject to the lender, the property and the auction timescale. Speak to your lender or broker before bidding and allow for valuation and underwriting. An agreement in principle does not guarantee that funds will be available for a particular purchase.

The legal pack provides documents for the transaction, which may include title information, searches, property information and special conditions. Leasehold or tenanted properties may need additional documents. Ask your solicitor to review the pack and any updates before bidding, including any costs or obligations passed to the buyer.

The guide or starting bid indicates the advertised price for marketing and bidding. The reserve is the confidential minimum the seller has agreed to accept through the auction. Neither should be treated as a valuation or a promise of the final sale price. Ask the auction team to explain the pricing for the particular lot.

Allow for the purchase price, any buyer or reservation fee and VAT where applicable, your solicitor, searches, surveys, applicable property taxes and any work needed. The listing, fee schedule and legal pack set out the transaction-specific charges. A reservation fee may be payable in addition to the purchase price, so confirm the total before bidding.

Instruct a solicitor experienced in auction purchases early enough to review the legal pack and sale conditions before you bid. They can explain title matters, deadlines, additional charges and your commitments, and help identify questions that need answering before you proceed.

Use the registration instructions on the auction platform. You will need to complete the required identity and other checks and accept the relevant bidding terms. Register in good time and check that you are approved to bid on your chosen lot; creating an account alone may not complete the process.

Once registered and approved, follow the bidding instructions for your chosen lot on the auction platform. Check the closing time, bid increments and any rules about extensions or maximum bids. Set your budget in advance, including fees, and review any updates to the property information before bidding.

Contact the auction team to ask whether the seller will consider an offer before the auction ends. Acceptance is at the seller’s discretion and auction terms, fees and deadlines may still apply. Obtain written confirmation of the proposed terms and discuss them with your solicitor.

The auction team will explain the payments, documents and next steps required under the advertised sale conditions. An unconditional sale normally creates a binding purchase commitment at the successful bid; a conditional route generally starts a reservation stage. Your solicitor should already have explained the obligations and funding deadlines.

An unconditional auction normally involves exchange or a binding contract when the successful bid is accepted, followed by completion within the stated period. A conditional auction generally provides a reservation period before exchange and completion. The particular sale conditions govern the commitment, payments and deadlines for the lot.

The payment amounts, due dates and refund conditions are set out in the listing and auction terms. Some payments are required immediately after a successful bid. A deposit and a reservation fee serve different purposes, and a reservation fee may not count towards the purchase price. Have the necessary funds available and confirm the written payment schedule before bidding.

The deadline depends on the auction route and the property’s sale conditions. Check the period for exchange, where applicable, and for completion with your solicitor before bidding. Make sure your lender, funds and any related sale can meet those deadlines rather than assuming extra time will be available.

The auction team may discuss further marketing or offers with the seller. If you remain interested, contact the team to check availability and the terms on which an offer could be considered. Do not assume that an unsold lot is available below its reserve or free of auction fees.

Use the contact details on the individual listing for viewings and property enquiries. Your local & Co agent can help with your next steps, and Pattinson Auction supports the auction process. Your own solicitor advises on the legal documents and commitments; your lender or broker advises on finance.