Our Bidding Process
Once you've seen a property in our online property auction that you want to bid on - first thing you need to do is Register to Bid. You can register to bid by clicking on the ‘Log In’ section in the top right hand corner of our website. If you don’t have log in details already, you will be prompted to register an account. If you prefer, you can call our customer helpline or furthermore, contact your chosen estate agent to make your bid.
Before placing a bid we strongly advise that you carry out market research on any property you are interested in bidding on. Make sure to review any legal documents we will have for the subject property, these will be contained in the Buyer Information Pack that you can download from the property details page of our website. This pack provides more information to help you to make an informed decision on whether or not to bid on the property and at what level.
We also recommend that before bidding you view the property internally and are completely happy with making a bid. Full terms and conditions are viewable in the bidding section of each property page; please review the terms and conditions relevant to the property you are interested in. If you have any questions you can call our customer helpline where our team of property experts will only be too happy to guide you in the right direction.
- Starting Bids:
These are prices published for each property and are the level at which the bidding will start. These prices may change throughout the marketing period. Each property has a corresponding reserve price which is usually the price that the vendor will consider.
- Reserve Price:
This is the minimum price that the vendor will consider selling a property in the online auction. We do not publish reserve prices; this figure is a private agreement between the vendor and the auctioneer, however as a guide the reserve is generally no more than 10% in excess of the Starting Bid. Both the Starting Bid and reserve can be subject to change.
- Online Auction:
All of the properties offered for sale on the site are 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 10 minutes, the auction end time will be increased by 2 minutes making sure the highest bid wins the auction.
- The Reservation Fee/Deposit
This is to be paid by bank transfer or card payment.
Please note: we will not proceed with the transaction until we are in receipt of cleared funds. 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 payment of the Reservation Fee has been confirmed, Notifications of Sale will be issued to all parties and their chosen solicitors, who will confirm the details of instruction.
- Exchange of Contracts
The point at which a 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. The Estate Agent will organise the key handover for your new home.