Buying at a timed online auction is a clear, convenient way to secure a property, with bidding open for a set period rather than at a single livestream event. This guide explains how timed auctions work, how they differ from livestream auctions, and the key steps to take before you bid, so you can approach the process with confidence, from legal pack to auction close.
As the name suggests, a timed online auction runs for a defined period (often around 24 hours with at least two weeks marketing prior to this). During that window, bidders can place and increase bids online. When the bidding window closes, the highest bidder wins – provided the reserve price has been met.
Both routes are transparent and deadline-driven, but the experience is different:
Before you bid, shortlist the lots you’re interested in, attend viewings, and get clear on your budget. It is also wise to factor in survey/works costs, legal fees, and any buyer costs mentioned in the lot details and the special conditions in the legal pack.
To bid in Auction House London’s timed auctions, you will need to register online through our third-party provider, Essential Information Group https://www.eigpropertyauctions.co.uk/ and agree to the online terms and conditions. Registration is designed to be quick and straightforward. You will typically be asked to provide personal details and upload ID documents (such as a passport and a recent utility bill) as proof of address.
Helpful tip: Don’t leave registration until the day. If there is anything that needs checking, you will want time to sort it before the auction closes.
A legal pack is usually available to download via the property details page and is prepared by the seller’s solicitor. It typically includes key documents such as title information and searches, as well as supporting forms and documents relevant to the property (for example, leases, tenancy agreements, or planning paperwork, where applicable).
Before you bid, you should instruct a solicitor to review the legal pack so you fully understand what you’re buying and the conditions you’ll be committing to.
Before bidding, you will need to check the exact completion date and any special conditions in the legal pack – timings can vary by lot.
Lots in timed auctions can usually be viewed via open days. It can be wise to take a surveyor, builder, or architect for an expert opinion – especially if the property needs work.
All timed-auction properties have a guide price – the recommended sum bidding starts at. It is not a valuation.
The reserve price is the minimum the seller will accept. It isn’t disclosed to bidders, and it will not be more than around 10% different to the guide price (depending on whether a single figure or a range is quoted).
Once registered and authorised to bid, you can usually bid in timed auctions in two ways:
Maximum bids are also designed to work fairly with the reserve price, and your maximum is kept confidential.
Bids move in set increments (based on the lot’s guide price/value). Bids outside the increments aren’t accepted.
Timed auctions also use an anti-sniping extension: if a bid is placed in the final 60 seconds, the countdown resets, giving everyone a fair chance to respond. It is best not to leave your bid to the final seconds.
If you are successful:
Timed online auctions offer a transparent, efficient route to buying – often with less pressure than a live event. One of the biggest benefits is that once the virtual hammer falls, that is the price the property has sold for, reducing the risk of renegotiation or gazumping.
Browse the lots available in our timed auctions and, if you have any questions about the process, please get in touch with our friendly team of property auction professionals.
