Ok so you've seen a property in our online property auction that you want to bid on...

However if you prefer you can call the auction department to register or place a bid on your behalf. We are approachable and happy to help.

We strongly advise that you carry out market research and due diligence on any property you are interested in bidding on. We recommend that before bidding you visually inspect the property internally and are completely happy with what's on offer.

Our modern method of auction

Our Modern Method of Auction is different to traditional auction procedures in the UK, in that it is conditional. This means that the sale is not legally binding once a bid is accepted. Once a bid is accepted the buyer is allowed a 28 day period of reservation in which to achieve exchange of contracts, at which point the sale becomes legally binding, (i.e. the buyer is bound to buy and the vendor is bound to sell). A further 28 day period is authorised to achieve completion of contracts, and at this point legal transfer of title takes place and keys and monies change hands.

Each property is sold subject to a reservation fee. The reservation fee is calculated against the final negotiated selling price at 5% subject to a minimum of £5,000 plus VAT. It does not form part payment of the final negotiated selling price. It is held as a reservation against the subject property until such time that exchange of contracts takes place. The fee is non-refundable if the sale falls through due to the buyer breaching the terms and conditions, but refundable if the sale falls through due to a breach of the terms and conditions by the vendor.

Consider your total purchase price when thinking of your bid level.

Starting bids

These are prices published for each property and are the level at which the bidding will commence. Starting bids are for guidance only and are not reserve prices. In most cases the reserve price will be in excess of the starting bid figure. These prices may occasionally change throughout the marketing period.

Online Auction

A proportion of the properties offered for sale on the site are only offered through the online auction. Bidders benefit from being able to bid from the comfort of their own home 24 hours a day, 365 days a year. The auction software provides every bidder the chance to have one last bid as for every bid made in the last hour 2 minutes is added to the auction end time making sure the highest bid wins the auction. On line auctions are identifiable by the flag located in the top left hand picture on the overview section of the property search page.

Physical Auction

Around 50% of the properties on the site are listed for physical auction and will be auctioned in one of the physical auction rooms located around the country. While these properties are listed on the website and bids can be made before the the auction end date buyers are encouraged to come to the auction room and bid. Physical auctions are identifibile by the flag located in the top left hand picture on the overview section of the property search page.

Reserve price

This is the minimum price that is acceptable to the vendor for selling a subject lot in the auction. We do not publish reserve prices; this figure is a private agreement between the vendor and the auctioneer.

Once you have made a bid, you will be kept up to date by email and via your auction dashboard which can be accessed via logging into our site. This will keep you up to speed with any properties that you have placed a bid on, or that you are watching.

When counter-bidding on a property you must increase by a minimum of £1,000 from the previous bid.

Once you have made the bid, it is likely that you will be contacted by a member of our staff to make sure you are happy and to answer any questions you may have.

All properties will continue to be offered for sale until the end of the auction period unless we are instructed by our vendor to accept an offer prior to the completion of the auction. You must register you interest in the property at the earliest opportunity to avoid disappointment, either by "watching" the subject, or by contacting us directly.

Once the auction has ended and your bid is successful or if you have an offer accepted over the course of the auction period, there will be a 48 hour period when you will be required to pay the reservation fee and sign an acknowledgment of reservation form.

The reservation fee is to be paid by bankers draft or bank transfer.

The acknowledgment of reservation form will be issued upon acceptance of offer or upon completion of auction when the highest bid is in excess of the reserve price.

Once the acknowledgment of reservation form has been signed by the buyer and the payment of the reservation fee has been confirmed, memorandums of sale will be issued to the buyer, the buyer's solicitor and the vendor and the vendor's solicitor will confirm the details of the instruction.

From the point of issuing the memorandums of sale the buyer will be authorised 28 days to achieve exchange of contracts.

Exchange of contracts

The point at which vendor and purchaser exchange binding contracts with the payment of a deposit, at the same time agreeing to a completion date.

Completion of contracts

This is the date you must make full payment for the property. Their property is now yours and the vendor must handover the keys and vacate the property, congratulations!