How to buy a house at auction

Buying a house at auction can be a smart and efficient way to purchase property. With faster completion times, increased transparency, and a more secure buying process, auctions offer an alternative route to getting on (or moving up) the property ladder.

In this guide, we’ll explore why buying a home at auction is worth considering, and walk you through the step-by-step process so you know exactly what to expect.

What are the benefits of buying a house at auction?

Many home buyers ask, “Is it worth trying to buy a house at auction?” The short answer: yes, it can be – especially if speed, security, and convenience are top priorities for you. Here are some of the main benefits:

Faster completion

One of the biggest advantages of buying through auction is how quickly the sale can be completed. Traditional Private Treaty sales (the most common method of selling a home, through an estate agent) take on average 118 days to complete after being sold (according to TwentyEA SSTC to Completion data for January – August 2025). In contrast, buying via Conditional Auction takes on average 56 days from receipt of draft contracts to completion.*

* Based on standard properties  

Quick and easy bidding

Thanks to online auction platforms, you can now bid 24/7 from the comfort of your home, at a time that suits you. Whether you’re on your lunch break or browsing on the weekend, the process is designed to fit around your lifestyle.

Additional security

Auction sales involve a binding Reservation Agreement, putting together a committed buyer and motivated seller giving both parties confidence that the sale will go ahead, reducing the risk of last-minute changes or fall-throughs.

Full transparency

Auction properties come with a Property Information Pack upfront. This contains key documents such as Title Deeds, Local Authority Searches, Water & Drainage info and more – helping you make an informed decision before you place a bid. Plus, with fully transparent bidding activity, there’s no second-guessing or hidden negotiations.

What is the process of buying a house at auction?

Buying a house at auction may sound intimidating, but it’s a simple and structured process. Here's how it works:

1. Search

Start by browsing auction properties. You can view our available auction homes here.

2. Book a viewing

We always recommend viewing the property in person before placing a bid.

3. Review the Buyer Information Pack

Each auction property comes with a Buyer Information Pack, containing essential details about the property. It’s crucial to review this pack thoroughly—ideally with the help of your solicitor—before bidding.

4. Getting prepared

Before bidding at auction, make sure you're fully prepared. Carefully review the documents to ensure you understand the property and auction terms. Confirm that you can meet all conditions, including paying any deposit or fees. Have a conveyancing Solicitor in place, and if you’re buying with a mortgage you will also need to get your decision in principle from the lender.

5. Register to bid

Before you can place a bid on a property, you’ll need to register. Click the registration link on the property details page and follow the easy online steps. If you’re interested in multiple properties, you can add them to your watch list from your registered account. You will need to complete identity verification checks and add your bank details and solicitor details before you are able to bid.

6. Place your bid

Once your bidding registration is approved and the auction goes live, you’ll be able to place bids on the property. The auction time will vary but it will end when the auction timer expires. If a bid is placed in the final five minutes, the timer will automatically reset to give everyone a chance to place their bid. The sale will be agreed if a bid is received on or above the seller’s undisclosed Reserve Price.

7. Winning the Auction

If you're the highest bidder at the end of the auction, congratulations! At this stage, the non-refundable Reservation Fee will be automatically taken from the bank account you designated at the point of registering to bid. The Reservation Fee will be 4.2% of the purchase price, subject to a minimum of £6,600 (inc VAT). Once the funds have been received, the Reservation Agreement will be issued and you will need to sign. Signing the Reservation Agreement reserves the property for you as the buyer, and commits both the seller and yourself to completing the purchase, giving security to both parties. You’ll also need to complete our identification checks and provide evidence of how the purchase will be funded. At the same time, you should instruct your solicitor to act on your behalf.

8. Completion

Once you’ve won the bid our experts in branch will be on hand to guide you every step of the way, helping ensure a smooth and successful transaction.

I’m a first-time buyer, can I buy at auction?

Absolutely. First-time buyers can buy at auction, and many find it a great way to get onto the property ladder. The key is being well-prepared. As a first-time buyer, you’ll follow the same steps as any other auction buyer. With a bit of planning, auction can be a straightforward and transparent way to buy your first home.

Can I get a mortgage on an auction property?

Yes, you can get a mortgage on an auction property — buying at auction isn’t just for cash buyers. While the Traditional Auction method is usually not suitable for mortgage buyers due to its short timescales, Conditional Auction offers a longer completion window of 56 days. This allows buyers more time to secure a mortgage. For a breakdown of the differences between Traditional Auction and Conditional Auction, read our guide.

That said, preparation is essential. You should have a Decision in Principle from your lender before bidding and confirm they’re comfortable with the auction’s fixed timeline. Since mortgages are subject to lending criteria, affordability checks, and property valuation, it’s strongly recommended to speak to your lender or financial advisor in advance.

Note that not all auction properties are suitable for mortgage lending, so it’s essential to review the Buyer Information Pack, consult your solicitor, and speak to a mortgage advisor before bidding.

If you need guidance with your mortgage options, don’t hesitate to speak with one of our experienced mortgage advisers today.