Buying at Auction
Please read our How-to guide below as we take you through the process.
To watch the auction, you do not need to register, simply click on the link on our homepage on the day of the auction.
Don’t forget the Auction Hammer team are always available to answer any questions you may have. Our auctions are currently being held as livestream auctions. Please return to the website to view the livestream auction.
If you would like to bid on a property, you must register to bid before the auction date. The approval process may take a few days, so please ensure you give yourself enough time to register if you are interested in bidding on a property. Registration typically opens five days before the auction date. Part of registering to bid is to carry out AML checks (anti-money laundering) that are legally required before you are approved as a bidder. You may be required to complete a remote verification check. Click here to read our AML Requirements for bidders and buyers, or you can visit the Government Website on the link here. Please join our mailing list, and we will notify you when it is time to register and send you relevant auction updates.We use the EIG Auction Passport system for bidder registration. By clicking on any of the following links a new window will open allowing you complete the registration process.
Actions to take before the property auction
- Checkout the catalogue
- Attend a viewing on the lot that you are interested in if available
- Please register your interest with us by downloading a legal pack
- Review the legal pack and conduct due diligence
- Arrange the finance if required
- Register to bid by clicking here
- Check the Addendum if any
How do I bid once I am registered?
We offer three bidding services:
Telephone bidding – We only have a limited number of lines available so make sure you register early. A staff member will attempt to contact the bidder by telephone before the lot is offered for sale. If contact is made, then the bidder may compete in the bidding through the Auctioneer’s team. Suppose it is impossible to obtain telephone contact or the link breaks down. In that case, the Auctioneer is authorised to continue to bid on behalf of the telephone bidder up to the maximum bid if one is stated on the form.
Proxy Bidding – An Auction Hammer team member will bid in the room for you on auction day.
Internet bidding – Once the form is submitted and payment has been made, you will receive a unique PIN, and you will need to supply your email address to bid. If the internet connection is lost, the Auctioneer is authorised to continue to bid on behalf of the internet bidder up to the maximum bid stated on the form.
What happens on the day of the property auction?
- The Auctioneer will announce each lot and highlight any addendum applicable.
- The Auctioneer will orchestrate the bidding and invite bids from the various platforms.
- All the lots will have a reserve price and be offered for sale subject to the reserve.
- The ‘fall of the gavel’ is when the highest bid is achieved, and the reserve price has been met or exceeded.
- It is worth noting that properties are not sold subject to contract when you buy at auction. At the auction, properties are sold unconditionally. This means that you are legally obliged to honour the sale.
- If the property does not sell on auction day and you have registered the highest bid, you may be contacted after the auction.
What happens if I am the successful bidder?
- If you are the successful bidder, you will be contacted by a member of the Auction Hammer team to take the 10% deposit payment.
- When funds have been received, you will receive a Memorandum of Sale (signed as per the remote bidding terms & conditions) with the unique needs of sale (if any) attached.
- We will send your solicitor a copy of the legal pack if stated on the bidding form. Please forward your part of the contract to your solicitor
There are several advantages to selling your property through Auction. Property Auctions are transparent, specific and timely. Speed and certainty are what auctions can offer.
Is my land or property suitable for Auction?
All types are suitable for Auction; this includes properties needing modernisation or parcels of land to attract property developers or commercial and mixed-use properties such as retail shops with flats above.What is a reserve price?
A reserve price is a minimum price you are willing to accept when the property sells at Auction.How is my property marketed before the Auction?
Like an Estate Agent sale, we will market the property using property details and photos on our website and our digital auction catalogue. Your property will also be visible on Rightmove and Zoopla. During the marketing period, we will contact you and inform you of any interested buyers and enquiries. At the same time, we will instruct your solicitor to prepare a legal pack containing special conditions of sale, title documents, leases, searches and planning documentation.How much does it cost to sell my property at Auction?
Once the property is valued, we will agree with you on our terms and conditions of appointment, including entry fees and commission. We charge a fee to cover inspection of the property and marketing. The level of the commission will be dependent on the value of the property.What do I need to supply in terms of documentation?
As part of the Anti-Money Laundering regulations, we require proof of identityBuying at Auction
Please read our How-to guide below as we take you through the process.
To watch the auction, you do not need to register, simply click on the link on our homepage on the day of the auction.
Don’t forget the Auction Hammer team are always available to answer any questions you may have. Our auctions are currently being held as livestream auctions. Please return to the website to view the livestream auction.
If you would like to bid on a property, you must register to bid before the auction date. The approval process may take a few days, so please ensure you give yourself enough time to register if you are interested in bidding on a property. Registration typically opens five days before the auction date. Part of registering to bid is to carry out AML checks (anti-money laundering) that are legally required before you are approved as a bidder. You may be required to complete a remote verification check. Click here to read our AML Requirements for bidders and buyers, or you can visit the Government Website on the link here. Please join our mailing list, and we will notify you when it is time to register and send you relevant auction updates.We use the EIG Auction Passport system for bidder registration. By clicking on any of the following links a new window will open allowing you complete the registration process.
Actions to take before the property auction
- Checkout the catalogue
- Attend a viewing on the lot that you are interested in if available
- Please register your interest with us by downloading a legal pack
- Review the legal pack and conduct due diligence
- Arrange the finance if required
- Register to bid by clicking here
- Check the Addendum if any
How do I bid once I am registered?
We offer three bidding services:
Telephone bidding – We only have a limited number of lines available so make sure you register early. A staff member will attempt to contact the bidder by telephone before the lot is offered for sale. If contact is made, then the bidder may compete in the bidding through the Auctioneer’s team. Suppose it is impossible to obtain telephone contact or the link breaks down. In that case, the Auctioneer is authorised to continue to bid on behalf of the telephone bidder up to the maximum bid if one is stated on the form.
Proxy Bidding – An Auction Hammer team member will bid in the room for you on auction day.
Internet bidding – Once the form is submitted and payment has been made, you will receive a unique PIN, and you will need to supply your email address to bid. If the internet connection is lost, the Auctioneer is authorised to continue to bid on behalf of the internet bidder up to the maximum bid stated on the form.
What happens on the day of the property auction?
- The Auctioneer will announce each lot and highlight any addendum applicable.
- The Auctioneer will orchestrate the bidding and invite bids from the various platforms.
- All the lots will have a reserve price and be offered for sale subject to the reserve.
- The ‘fall of the gavel’ is when the highest bid is achieved, and the reserve price has been met or exceeded.
- It is worth noting that properties are not sold subject to contract when you buy at auction. At the auction, properties are sold unconditionally. This means that you are legally obliged to honour the sale.
- If the property does not sell on auction day and you have registered the highest bid, you may be contacted after the auction.
Please note that Auction Hammer Ltd cannot be held responsible for internet / connection / communications problems which stop you from being able to bid for any of our auction properties.
What happens if I am the successful bidder?
- If you are the successful bidder, you will be contacted by a member of the Auction Hammer team to take the 10% deposit payment.
- When funds have been received, you will receive a Memorandum of Sale (signed as per the remote bidding terms & conditions) with the unique needs of sale (if any) attached.
- We will send your solicitor a copy of the legal pack if stated on the bidding form. Please forward your part of the contract to your solicitor
