Frequently Asked Questions

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The reserve is the minimum price the seller is willing to accept. It is confidential. If the highest bid meets or exceeds the reserve, the property is sold. If not, the lot may be withdrawn or the seller may negotiate after the auction.

An addendum or amendment sheet is a document that updates or amends the legal pack or auction particulars after they were first published. It might include changes to the conditions of sale, new search results, or corrections. Bidders should always check for addendums before the auction, as they form part of the contract and can affect the terms of the sale.

Yes. You should instruct a solicitor to review the legal pack and special conditions before the auction. Once the hammer falls, the sale is legally binding, so due diligence must be done in advance.

Typically you pay a deposit (often 10% of the purchase price) on the day of the auction or shortly after. The exact amount and deadline will be in the special conditions of sale.

Yes, but you must have a mortgage agreed in principle before the auction. Completion is usually within 28 days, so your lender must be able to complete in that timeframe.

The contract is legally binding. If you fail to complete, you may lose your deposit and the seller can pursue you for additional losses. Only bid if you are certain you can complete.

Yes. Viewings are usually arranged before the auction. It is strongly recommended that you view the property and carry out any surveys you need before bidding.

Generally yes. The contract will state that the property is sold in its current condition. That is why reviewing the legal pack and viewing the property are essential before you bid.

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Why Property Owners Trust Auction Agent

Ahmad Hussain

Very professional service from start to finish. Made the whole process very easy. Would use your services again and would also highly recommend to others. A pleasure dealing with you. Thankyou

Ahmad Hussain

2 months ago · Google

5/5
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JAYNE TAYLOR

Only really dealt with Nadeem, but the experience was an absolute pleasure. I was kept up to date with the selling of my dad's property from start to finish. The before, during and aftersales were second to none.

JAYNE TAYLOR

3 months ago · Google

5/5
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Sue Shears

I had an unusual property to sell and wanted a quick sale. The first auction house I approached was very bleak and clearly couldn’t see any potential in it at all and suggested an unrealistically low reserve. I then contacted Auctionagent and spoke to Ray. He was very helpful and although not too sure about the valuation, was happy to go with the reserve I suggested, without making me feel I was delusional. In the end, it was sold outside the auction, and Ray negotiated a price with the purchaser which was above the reserve price. So I got the price I wanted and a quick sale. Ray was incredibly helpful and supportive throughout.

Sue Shears

8 months ago · Google

5/5
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 Leonard Davis

This was the first time selling property at auction and I am very pleased with the results. I initially spoke to Ray who talked me through the process and advised on prices Auction Agent had obtained selling other similar properties in the same block of flats as mine. They were my preferred choice from 3 different auction houses, and I didn't have any regrets, as Ray was professional throughout the whole process. My calls and queries were always answered in a timely fashion, with appropriate profesional advice given, and Ray always put my mind at ease with any concerns that I had. He had clearly marketed the property well, as many people were interested in bidding, and the price received exceeded my expectations. Ray is a credit to his company, hence I am using Auction House again for the sale of my second property.

Leonard Davis

5 months ago · Google

5/5
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Ahmad Kazmi

I had the pleasure of working with Auction Agent to sell a property that had been a real challenge for me to sell on my own. From start to finish, my experience was exceptional. First and foremost, their team’s expertise in the real estate market was evident from the beginning. They conducted a thorough market analysis and provided me with a realistic valuation of my property, which helped set the right price. Throughout the process, their communication was outstanding. I was kept informed at every step, from listing to closing. They promptly answered my questions and addressed any concerns I had, which made the entire process stress-free. Their negotiation skills were also top-notch. They worked diligently to secure the best possible deal for me, and I was extremely pleased with the final sale price. In the end, they not only helped me sell my property, but they did so efficiently and with the utmost professionalism. I couldn’t be happier with the outcome, and I highly recommend their services to anyone looking to sell their property. Thank you, Auction Agent , for making this process a success!

Ahmad Kazmi

2 years ago · Google

5/5
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