Andy’s Top 10 Tips for Auction Day.
July 4, 2016
- Bring two forms of identification (passport or driving license with photo and a recent utility bill), your cheque book or debit card and all your banking details, as well as your solicitor’s full contact details.
- If you are planning to bid on the day, you will need to register at the reception where you will then be given a bidding paddle with your unique bidding number.
- Arrive early. There is so much more happening than the auction itself these days. Specialists are usually on hand to advise you on buy-to-let and auction funding, legals, planning, surveying, lettings, property management….and much more. Plus this is your last chance to check over the legal packs for any properties of interest (although this should be done earlier than Auction Day!).
- On arrival, get a copy of the Amendment Sheet. This should be distributed around the auction room and contains late information or alterations. Don’t assume that all the properties included in the catalogue will be offered on the day – some may be withdrawn or sold prior to the auction.
- Take a few minutes to familiarise yourself with the empty auction room before the auction starts so you are comfortable and confident in the surroundings.
- Take a seat or stand somewhere in the room where the auctioneer will able to see you bidding clearly.
- When bidding, make sure you gesture clearly at the auctioneer. Either raise your hand or nod/shake your head clearly. The auctioneer will warn the room when he is about to conclude a sale.
- If a property fails to reach its reserve price, don’t lose heart. The vendor may decide to accept your bid later at the end of the auction or in the days following.
- If you make a successful purchase, check whether you are required to insure the property from exchange. Usually, this is the responsibility of the seller (until completion), however sometimes this is passed on to the buyer.
- Good luck, enjoy the day and if you would like help or guidance with buying a property at auction then get in touch!
Andy
@AndyT___ / andy.thompson@edwardmellor.co.uk / 07530 704 234
“Andy, your knowledge of property auctions and the help you offer is absolutely invaluable, thanks again for everything!”
N. Rothwell June 2016
You May Also Enjoy
The Future of Urban Real Estate: Trends and Predictions for 2026
Affordability pressures, hybrid work arrangements, and steep borrowing costs are heavy influences on urban real estate for 2026. We’re seeing an increase in mixed-use development and a renewed focus from investors on markets with a steady demand. Markets that can balance housing access, transportation, lifestyle amenities, and flexible workplaces will come out on top. Major…
Read More 
London’s prime residential market isn’t falling — it’s repricing
By Daniel Austin, CEO and co-founder at ASK Partners London’s prime residential market has looked subdued by global standards, but framing current conditions as a decline overlooks the more important underlying dynamic. The market is undergoing structural repricing driven by higher interest rates, shifting tax policy and a more volatile geopolitical environment. This is not…
Read More 
Foxtons Lettings Market Index – April 2026
Market activity strengthens with applicant demand recovering and supply remaining ahead of last year After the implementation of the Renters’ Rights Act, April provides the final snapshot of market conditions ahead of implementation, offering a clear benchmark for how the sector is positioned entering this new regulatory environment. The lettings market strengthened through the…
Read More 
Five hidden costs catching home buyers out
FIVE hidden costs that’re catching home buyers out, AFTER they put their offer in, says expert • Buyers often focus on deposits and mortgages, but overlook thousands in extra costs • Delays, surveys and legal fees can quickly inflate budgets • Unexpected gaps in funding are becoming increasingly common A lot of home buyers think…
Read More 
Housing Insight Report: March 2026
Buyer activity and sales agreed picked up this month as the housing market entered the spring season, with increased stock levels giving consumers more choice despite ongoing affordability pressures. Meanwhile, the rental market remained highly competitive, as tenant demand continued to outstrip supply and concerns over future regulation weighed on landlord confidence. Sales 1. The…
Read More 
Renters’ Rights Act risks leaving the tenants it set out to protect with fewer options
Fewer than a third of landlords are fully aware that the Renters’ Rights Act bans advance rent payments of more than one month, according to new research from LRG. The survey of 650 landlords and tenants across England and Wales found that 43% know the rules have changed but remain uncertain of the details, while…
Read More