Buyer's Guide
Buying at an Auction
A Clear and Simple Guide
Buying a property at an auction is an exciting prospect but it is one that follows a certain structure and process. If you are new to purchasing a property at an auction then our guide is going to help you understand what is involved so you can bid with confidence.
Browse The Properties In The Auction
Before you arrange to attend the auction, it is important that you browse the properties that are up for auction. Where possible, you should ensure you gather as much information as possible and visit the property.
Browse current lots →Registering to Bid
It is especially important to register your interest before you attend the auction as you will need to be pre-approved prior to the sale. This is because checks have to be carried out as current anti-money laundering legislation requires that these checks take place.
These checks are part of the process and have to be completed satisfactorily in order to be given the approval to bid. This is a process that can take some time so make sure that you give yourself plenty of time prior to the auction.
What If You Are Unable to Attend?
It is common for some bidders to be unable to attend the auction in person but this is not an issue. We do offer remote bidding in a number of ways:
Telephone
You will be called from the auction room so you can be involved in the auction over the phone.
By Proxy
Where required, it is possible for the auctioneer to make bids on your behalf up to your maximum amount.
Online
Where possible, you can make bids online should that be necessary. Bid from anywhere in the world.
The Day of the Auction: What to Bring
Photo ID
You will need to bring the same ID used when you submitted your registration to bid. This must be the original document. No photocopies accepted.
Deposit Payment & Buyer's Fee
Payment can be made by cheque, banker's draft, solicitor's client account cheque or debit card. Note: credit card payments and cash deposits are NOT accepted.
Solicitor Information
We recommend instructing solicitors before bidding. Please bring your solicitor's contact details with you on auction day.
Check the Addendum
Prior to bidding, take a look at the printed Addendum and listen for announcements about any last-minute changes, as these become part of the contract.
The Auction
The auctioneer opens with information about the procedure and announces any last-minute changes.
Your lot number is announced. Listen carefully. The auctioneer begins bidding at a set opening amount.
To bid, raise your hand or catalogue clearly. This constitutes a legally binding offer at that price.
The auctioneer controls bidding in increments. Properties are offered with an undisclosed reserve price.
'Going once, going twice, sold.' The hammer falls. If you made the final bid, the property is yours. This is a legally binding contract.
⚠️ Important: Once the hammer falls, you are legally obligated to complete the purchase. Properties are NOT sold subject to finance, survey or contract. The sale is binding immediately.
Being the Successful Bidder
After the auction, if you are the successful bidder, you will be approached by a team member. You will need to:
What You Must Do
Buyer's Fees
Residential Properties
Commercial Properties
Payable on the day. Credit card and cash are NOT accepted.
Memorandum of Sale
Once your ID is verified and all payments made, you will receive a Bidder Identification Card as receipt. Take this to the Contracts Desk where you will sign the Memorandum of Sale.
This is your proof of purchase. The seller's section should be given to your solicitor. The signed memorandum is forwarded to the seller's solicitor, with completion typically taking around 20 days.
Do not leave the room without your memorandum.
Weigh It Up