Process to buy

You may be looking to add to your property portfolio, buy your first home, or simply want to find a unique property that is not listed on the open market.

Buying a property with us is easy and simple. We have a straightforward buying process and our buyers benefit from:

• A quick & easy bidding process
• Easy, secure buying process
• Get keys in 28 days
  

Buy your property in 5 easy steps

We have a number of great properties to choose from:

• Our auction provides properties in all conditions, sizes and personalities, that are realistically priced and readily available.
• All of our auction properties are available through our extensive, national network of partner agents.
• Our properties are available with no onward chain, making auction a great way for you to purchase a property quickly and securely.

We are able to assist you with buying the following Residential and Commercial properties:

• Residential: Barn Conversion, Bungalow, Character Property, Cottage, Derelict Properties, Detached Garage, Holiday Home, Link-Detached, Land, Lower Flat, Maisonette, New Build/House, Pair of Flats, Portfolio, Room, Semi-Detached, Studio, Terraced Property, Townhouse, Upper Flat.

• Commercial: Drinking Establishment (e.g. Bar), Educational Property, HMO, Hot Food Takeaway, Hotel, Industrial (e.g. Warehouse), Island, Land and Development, Leisure, Lighthouse, Offices, Parking Spaces, Restaurants, Retail and more.

Our fast and secure transaction

We want to provide ultimate transparency for both buyers and the sellers. We always keep all parties fully informed and updated as to the status of the properties.

On the fall of the hammer, the reservation fee and deposit are paid, and contracts are exchanged straight away, due to the seller already starting the Legal Pack process before the property went live on auction. The Legal Pack provides you with all the information about the property prior to bidding. We make sure that there are no unnecessary hurdles or delays.

Online auction

Browse through our live properties, and once you have found a property you are interested in, you can book a viewing to inspect the property for yourself. Some of our investor and landlord buyers choose not to view and bid on the property as advertised online.

The bidding process

When you have found the property you want to bid on, register with us using this link. Once you have registered, and we have verified your details, you are ready to bid.

All our auction sales must complete in fixed timescales of either 28 or 56 days, so please make sure you read the terms of sale and download and read the Legal Pack for each property, before placing your bid.

All bids are visible via our live bidding platform. You can bid anywhere, anytime 24/7 from your computer or smartphone before the auction ends.

Once you start the bidding process, you are committing yourself to buying the property if you are the winning bid. Please make sure you read and familiarise yourself with all the information provided about each property, as well as the legal documents , so you are making an informed decision about buying with us.

Our auction runs slightly differently to a traditional auction. We run an auction cycle for 28 days with a countdown clock attached to each property. There will not be an auction date or location for all, or a set of properties. Each property runs on an entirely different timescale, so please watch the clock.

We also want to make the auction as fair for everyone as possible. We realise that in a traditional auction or eBay listing, the most action happens in the last 10 minutes, and people can swoop in at the last few seconds and take a property off the market. We don't see this as fair and so we have a slightly different system. Whenever a bidder places a bid within the last 10 minutes of the auction, the countdown resets back to 10 minutes and starts counting down again. This occurs until the last bid comes in.

Starting bids

This is the initial advertised price and opening figure for the property, that is open to future bids.

Reserve price

This is the minimum price that the seller is willing to sell the property for at auction. The reserve price is never published or listed, this is a private figure between us and the seller. Both the reserve price and starting bid can be subject to change.

Terms

Unconditional auction

Most of our property sales are sold unconditionally. The buyer is legally bound to buy and the seller is legally bound to sell in 28 days. This means that the sale and legal formalities are done and keys are handed over after 28 days of the fall of the hammer.

On the fall of the hammer, the legal contracts are exchanged straight away, the buyer would pay a 5% Non-refundable Deposit and a Reservation Fee of up to 5% plus VAT (to a minimum of £5,000 plus VAT) to secure the property.

Conditional auction

Some of our properties are sold subject to some conditions. The buyer is legally bound to buy and the seller is legally bound to sell in 56 days+. This means that the sale and legal formalities are done, and keys are handed over after 56 days+ of the fall of the hammer.

On the fall of the hammer, the legal contracts must be exchanged within 28 days, the buyer would pay a 5% non-refundable Deposit and a Reservation Fee of up to 5% plus VAT (to a minimum of £5,000 plus VAT) to secure the property.

IMPORTANT PLEASE READ:

RESERVATION FEE DENOTES A DIFFERENT SET OF CHARGES TO THE REGULAR AUCTION LOTS. RESERVATION FEE LOTS WILL BE EITHER UNCONDITIONAL OR CONDITIONAL. THE RESERVATION FEE DOES NOT CONTRIBUTE TOWARD THE PURCHASE PRICE. PLEASE READ THE ABOVE DIFFERENCES BETWEEN THESE AUCTION FORMATS CAREFULLY SO YOU UNDERSTAND THE ASSOCIATED COSTS OF EACH ONE AND THE REQUIREMENTS OF EACH AUCTION. ALL ‘%’ QUOTED ABOVE ARE BASED ON THE SALE PRICE OF THE PROPERTY WHICH IS ASSUMED BY THE WINNING BID.

Speak to a member of our team on 0330 223 6118 for more information, or get in touch below.