10 Reasons to Purchase Property at Auctions

Tips when buying at property auctions

I visited many property auctions going back around 15 years ago. There was a time that every month through the post I would regularly receive property auction catalogues and I was always excited to see the listings close to where I lived and be tempted in by the low guide prices! Most times the guide price, though a good % below the average price for the property, would sell for more.

Property auctions were really trending thanks to television shows such as Homes Under the Hammer, Grand Designs and Location, Location, Location. During the 2,000’s and on to 2010’s these shows pulled in millions of viewers and will have helped countless people purchase homes via auction. Many an afternoon, I’m sure many of our readers too, will have been spent with a cup of tea and biscuits whilst watching a couple on television purchase their dream home at auction and tackle the renovation – It was always all about how much they paid in full and what it was worth in the end, right!?

What type of property are sold at auctions?

It was very much regarded that property at auction were those to do up or those with problems, the stock that could not sell at the estate agency and instead needed motivated cash buyers / specialists. Also, those property which were repossession thus in control of banks looking to sell quickly to release capital would regularly be seen as lots in auction catalogues.

To be honest you can find any and all property at auctions. This means from homes that are ready to move in to, maybe the vendor wants a quick sale, through to land with planning permission.

Why purchase at a property auction?

  1. You are likely to make a purchase below market value.
  2. You can still carry out our own surveys / viewing / checks prior to bidding at auction.
  3. You can find all property types from renovations to new builds including building plots, agricultural land, commercial property and more.
  4. You will acquire ownership faster (usually within 30 to 60 days).
  5. You will find property that might not be listed with estate agencies / property portal websites.
  6. Legal paperwork is mostly done upfront for the potential buyer, prior to bidding, to view saving time.
  7. The price you get the property for is the price you will pay (commissions depending to auction agent). No chance to be gazumped.
  8. You don’t have to be a cash buyer only as lenders will also provide finance for auction purchases.
  9. Property auctions are frequent and over most parts of the UK and there are many property sold this way so you have plenty of choice.
  10. You can also make pre-auction offers and purchase prior to the auction running.


Christopher Walkey

Founder of Estate Agent Networking. Internationally invited speaker on how to build online target audiences using Social Media. Writes about UK property prices, housing, politics and affordable homes.

You May Also Enjoy

Estate Agent Talk

What can affect the profitability of a rental property?

In the residential lettings market, rents are rising, and competition is fierce. But what can affect the profitability of your BTL investment? We aim to find out here. As Stephen Clark, from Finbri bridging finance, says, “Demand for rental properties remains strong across the UK, but the market demand is not being met by the…
Read More
Breaking News


A roundup of the week’s top property and proptech news stories in partnership with Proptech-X   Table of Contents Airbnb for house shares’ raises a further £500k LettsPay partners with The Guild to provide Members with automated accounting tool Fine & Country has sights set on accelerating global growth with new appointments LettingaProperty.com Highlight New Smoke…
Read More
Commercial Agent Talk

How to Choose the Best Art for Your Hotel

Artwork is everywhere in great hotels, and while it may not be something guests consciously notice when they walk in, great art dramatically impacts the overall feel throughout the hotel space. Artwork can provide any hotel space – whether it’s placed in the lobby, a guest room or suite, or in the hotel dining room…
Read More
Estate Agent Talk

Marilyn Monroe bought her own home just four months before she died.

August 4th marked the 60-year anniversary of the death of Marilyn Monroe, who would be 96 if she were still alive. Still a sex symbol today, the blonde bombshell started as a pin-up model before branching out into cinema. Famous for her comedies, such as Some Like it Hot and Gentlemen Prefer Blondes, she was…
Read More
Breaking News


Daily bite-sized proptech and property news in partnership with Proptech-X.   LettingaProperty.com Highlight New Smoke and Carbon Monoxide Alarm Regulation Changes for Landlords Online lettings platform LettingaProperty.com is seeking to raise awareness among landlords and tenants of changes to the Smoke and Carbon Monoxide Alarm (England) Regulations. The regulations have been in place since 2015, but are…
Read More
Home and Living

How To Increase Your Homes Value With A Loft Conversion

Loft conversions are one of the easiest, quickest ways to add value to your property both functionally, and financially. If you’re still undecided about whether or not a loft conversion is right for you, read on to find out more about them and how they can help you boost the worth of your home: What…
Read More