Buying at Auction

Buying a property at auction is a straightforward process, but it is important to understand and prepare for each step. To help you navigate the world of property auctions, follow our top tips for buying a property at auction.

Top-tips for buying at auction

Before the auction

  • Browse the auction catalogue
    The Savills Auction catalogue is published two weeks before the auction. The catalogue is available online and you can sign-up for our email alerts so you are the first to know when the catalogue is ready.
  • View the property you wish to purchase
    Once you’ve found a property you are interested in we recommend attending a viewing. A list of viewing times can be found in our online catalogue. There is no need to register, simply visit the property at the allotted time.
  • Conduct due diligence
    All legal documentation for each property can be found on our website prior to the auction. We recommend that you get a solicitor to check the legal documentation before you bid.
  • Check the addendums and notices
    Our online details are regularly updated with any amendments and a full list of changes will be published as an addendum on our website one day prior to the auction. We recommend that you read this thoroughly as any amendments will form part of the contract.

At the auction

  • Bring all the required documentation
    Successful buyers will be required to present; photo ID, proof of address and their solicitors details. Read more about required documentation here. Please note we will require ID documents for all parties who will be entered on the contract.
  • Do not bid if you are uncertain
    If you are uncertain about what you are buying or have doubts over the process or completing on time we would advise you not to bid. On the fall of the Auctioneers gavel a binding contract is created. After this point there can be no change or negotiation.
  • Have the deposit ready
    Immediately after purchasing your property you will be required to pay a 10% deposit on the property and a buyers fee. These can be paid by debit card, cheque and bank transfer.
  • Unable to attend the auction? Register for remote biding
    If you are unable to attend our auctions in person but still wish to bid, you can register for remote bidding. Read more about remote bidding.
 

More information

 

General Enquiries

London & National Auctions
+44 (0) 20 7824 9091

Nottingham Auctions
+44 (0) 115 934 8080