About our online auctions
We offer two online services, sale by conditional or unconditional auction:
Unconditional online auctions work on the same basis as traditional auctions.
If you are the highest bidder at unconditional auction and the reserve has been met; the property exchanges contracts and the buyers and sellers enter a legally binding contract, which sees the buyer pay a 10% deposit within 24 hours. The buyer cannot back out and the completion period is usually 28 days from this point.
With a conditional auction, we take a reservation deposit from the buyer which gives them a right to buy the property. After a conditional auction the buyer then has 28 days to exchange and a further 28 days to complete, giving them time to arrange a survey, mortgage or other finance.
Benefits of selling via our online auction:
Set your own marketing period with an auction on any day of the year, offering you flexibility.
We actively market your property on our website and property portals as well as on our database of over sixty thousand registered bidders.
We keep you regularly updated with how many people are watching your property and bids received.
There are fixed dates for exchange and completion to provide certainty to both sides.
For more information, please see our Guide to Selling Online.
Benefits of buying at our online auction:
You can bid from your desk, your own home or even on holiday, any time of the day or night.
If you are buying in a conditional auction there is time before exchange to apply for a mortgage or other finance.
The transaction is transparent for both buyers and sellers.
There is no gazumping or re-negotiation.
How do I bid?
If you would like to bid in our auctions you need to register with us first and agree our terms and conditions. Please contact us for our Online Auction Buyer Terms and Conditions.
For more information, please see our Guide to Buying Online.
Any other questions
Please call 0207 625 9007 or email firstname.lastname@example.org and we will do our best to answer any further questions you have.
Buying property at auction is different to buying property privately and we strongly advise potential purchasers to check that they have read and understood all the various legal documents and terms & conditions.