Prepare well.
Bid with perspective.

01 / Research the property

View the property and investigate its condition, location and intended use. Consider an independent survey and valuation. A guide price is not a promise of the final sale price.

02 / Understand the legal pack

Ask a solicitor experienced in auctions to review the title, searches, leases and sale conditions before you bid. Check for restrictions, additional costs and anything that might affect your plans.

03 / Build a complete budget

Allow for the deposit, purchase price, auction fees, legal costs, relevant property taxes, finance and works. Set a maximum bid based on the total cost, rather than the guide price alone.

04 / Arrange funding early

Confirm that your funding can meet the specific completion deadline. A preliminary discussion or agreement in principle is not a guarantee that funds will be available. Ask about conditions, costs and timing.

05 / Check how the auction works

Auction methods, contracts and deadlines vary. Understand when your commitment becomes binding, what must be paid and what happens next. Have your solicitor explain the conditions for the property you intend to buy.

Your auction preparation checklist

• Know which auction company is selling the property.
• Read the catalogue entry and ask about any updates.
• Have the legal pack reviewed before making a commitment.
• Understand your complete budget and funding conditions.
• Confirm the relevant registration, deposit and completion requirements.

Put your research into practice

Work through our interactive research checklist and test your own purchase and rental assumptions. These tools help organise your thinking; they do not replace advice on the individual property.

Read further

For independent consumer information, see the RICS property auctions guide and MoneyHelper’s homebuying guidance.

Processes and taxes differ across the UK. This overview is general information, not legal, tax or financial advice.