If you’ve been considering buying property, whether for investment or as a new home, an auction can be an exciting and rewarding way to secure your next property.

Auctions offer unique opportunities to purchase properties that you might not find through traditional estate agents, and with Town and Country Property Auctions, the entire process is transparent, streamlined, and accessible.

In this blog, we’ll walk you through everything you need to know about buying at auction— from finding properties, how to register and participate in the auction to finalising your purchase.

With a bit of preparation and understanding, you’ll be well on your way to securing the property of your dreams at an auction.

Why Buy Property at Auction?

Buying at auction comes with several advantages over traditional property buying methods. Here are just a few reasons why auctions are becoming an increasingly popular choice for property buyers:

• Transparency: Auctions are public, and all bids are visible, so you know exactly where you stand. A bid history table is available to view during the auction displaying the bid amounts and time of bids.

• Speed: Once you win the auction, the sale is completed quickly, usually within 28 days, which is much faster than traditional buying processes.

• Competitive Pricing: Auction prices are often more competitive due to the speed and certainty the auction process offers.

• Wide Selection: Whether you’re looking for residential homes, commercial properties, land, or investment opportunities, auctions offer a wide range of properties to choose from.

If these benefits sound appealing to you, then buying at auction could be the right path for your next property purchase.

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Step 1: Browse Listings and Catalogue

Begin by browsing our auction website and catalogue to identify listings that catch your interest. With offices located across the country, we offer a wide range of properties suitable for all types of buyers. Auctions are held regularly—monthly, bi-monthly, and in some locations, every two weeks.

Each auction listing typically includes:

• Detailed property descriptions, photographs, and floorplans.

• Starting bid amounts.

• Scheduled viewing times and auction dates.

• Legal documents, such as title deeds, surveys, and disclosures about known issues or requirements (e.g., planning permissions).

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Step 2: Arrange Viewings

You can attend one of our scheduled open viewing days or contact your local office to arrange a private viewing.

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Step 3: Review the Legal Pack

If you’re interested in the property after viewing, be sure to download the legal pack for further review. We recommend sharing it with your solicitor to address any questions or concerns you may have. The legal pack is free to download but requires an Auction Passport account through the Town & Country website.

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Step 4: Register to Bid

Before you can bid on any properties, you must first register to bid. This is an essential step to ensure that your identity is verified and that you’re able to participate in the auction process.

The registration process at Town and Country Property Auctions is simple and straightforward. Here’s how to get started:

1. Visit the Property you are interested in and Click Login/ Register to Bid: You’ll need to sign in or create an Auction Passport account to participate.
2. Agree to the Terms and Conditions: After signing in, you’ll be asked to agree to the auction terms and conditions, which outline the rules, buyer’s premium, and payment terms.
3. Complete the Registration Process: You’ll be asked to provide some basic details, including your name, contact information, and a proof of identity and address (such as a passport and utility bill).
4. Bidder Security: The final registration step is the Bidder Security Payment. You will be asked to provide your payment details, no payment will be taken unless you are the successful bidder.

A useful guide can be found on the How to Register section on our website.

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Bidder Security Registration Explained.

• You’ll be asked to register a credit or debit card to secure your bidder security deposit, typically £2,000.

• No payment is taken at registration, but a temporary hold will be placed on your card for this amount.

• If you win, the amount will be charged immediately after the auction closes.

• If you don’t win, the hold will be released — though this can take a few hours to several days depending on your bank.

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Step 5: Join the Online Auction.

You can easily join the bidding from anywhere using our intuitive online platform.

You can view the starting bid, place your bids, and watch the auction unfold live — all from your own device.

We recommend checking the auction’s start and end times in advance to ensure you’re aware of the exact schedule.

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Step 6: Placing Your Bid

Once the auction starts, the process is fairly straightforward:

1. Get Ready: Each property will have a Start Time and will countdown to the start time. Make sure you logged in ready to bid. You will see a message You are ready to bid.
2. Place Your Bid: You can place your bid by clicking the “Bid” button online. The platform will show you the current highest bid, and you can bid incrementally higher.
3. Stay Active: If you’re competing for a popular property, bids may increase quickly. Stay alert to ensure you don’t miss out on your chance to secure the property.
4. Winning the Auction: When the hammer falls, the highest bid wins the property if the reserve price has been met. At this point, the sale is legally binding, and you will be required to pay a deposit and Auctioneers Fees on the same day (The deposit is typically 5% of the final bid price. Be sure to review the property listing and special conditions to confirm the exact amount for the deposit and fees). The remaining balance is due within 28 days.

Our bidding demo page is a great resource to familiarise yourself with how the online auction works and how to place a bid.

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Step 7: Completing the Purchase

Once the auction ends, you’ve won the bid—congratulations! But the process isn’t over yet. You’ll need to:

1. Pay the Deposit and Auctioneers Fees: After the auction, the auctioneer will contact you to arrange payment of the deposit—usually 5% of the final bid price—and any auctioneer’s fees.
2. Complete the Transaction: You’ll then have 28 days to pay the remaining balance and complete the transaction.
3. Paperwork: We will then issue the paperwork and send copies to both parties solicitors.
4. Completion: After completing the sale, the property is officially yours, and you can begin the next steps—whether that’s moving in or starting your development or renovation project.

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FAQ’s

Can I view properties going to Auction?

In most circumstances, yes. It can depend on the condition and arrangements but we will conduct viewings on most auction properties.

Can I buy with a mortgage?

Yes, if the property is mortgagable. You will need to make sure that you are ready to go and speak to our office.

We also work with Together Finance who offer finance solutions

What is a legal pack?

In a private treaty sale through an estate agent, you would expect to see the legal documents after you have made an offer. As the auction sale requires speed of the transaction these are provided by the seller’s solicitor in advance of the auction.

How long do I have to complete?

Generally 28 days after the auction/ exchange of contracts. The auction particulars or special conditions in the legal pack will state the completion timeframe.

Can I make a offer before the Auction?

Most of our vendors will consider pre-auction offers. You can contact the office dealing with the property to discuss if the property you are interested in will.

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Why Choose Town and Country Property Auctions?

Buying at auction through Town and Country Property Auctions offers many benefits, including access to a wide range of properties, competitive pricing, and a transparent process. We pride ourselves on offering exceptional customer service, ensuring that every step of your buying journey is clear and stress-free.

If you’re ready to start bidding, visit our How to Register page today to begin the registration process.

We also encourage you to check out our Bidding Demo to get familiar with the online platform before auction day.

Whether you’re looking for a home or an investment opportunity, buying at auction can be an exciting and rewarding way to secure property. We’re here to help you every step of the way—happy bidding!

• Author: Lloyd Marsden
• Categories: Buying at Auction