Buying at auction FAQs

Yes, we carry out group viewings of our properties wherever possible. The details will be included in the property details. It may not be possible to arrange a viewing on a tenanted property.

To bid in one of our auctions you will need to complete our simple bidder registration form ahead of the auction. You can find this link within the property details on our website. We will need to verify your ID and receive your method of payment prior to being fully registered.

These are available to view on each property listing on our website and are uploaded as and when we receive them from the appointed solicitor. If the legal pack has not yet been received when you click to view, you should register your details to then receive an alert when it is uploaded.

Yes, some sellers will consider selling prior to the auction but only on the condition that an unconditional contract is exchanged, and the deposit and buyers fee are paid before the auction.

Yes, you can, and this is often advised. You must instruct your surveyor to contact us on 020 7861 5520 for access.

The normal completion period for an unconditional sale is 20 business days after the sale at which point you must pay the balance monies, although you should inspect the legal pack to confirm this as the Special Conditions of Sale may state otherwise

You will need to pay a 10% deposit, subject to a minimum of £5,000. The deposit for unconditional sales is non-refundable and will be immediately transferred to the seller’s solicitor, as contracts are exchanged immediately. The balance will be transferred to the seller’s solicitor in time for completion. Note that you will also have a to pay a non-refundable buyers fee immediately after the auction that is separate to the deposit and does not contribute towards the purchase price (see ‘Are there any further costs to pay’ further down).

Your deposit will be taken from the debit method you provide to us prior to the auction.

Yes, and these vary depending on the method of sale associated with the property. These are listed below – please note the buyers fee does not contribute towards the purchase price. Any further additional costs, which are payable in addition to the purchase price, will be included within the Special Conditions that are attached to the contract. Therefore, all prospective purchasers must inspect the legal packs thoroughly. We also strongly advise prospective purchasers to request a legal representative reviews the pack for every lot that you may wish to bid on, so that you are fully aware of any additional costs, if applicable. Failure to read the legal pack before bidding will not be grounds for pulling out of the sale. Please refer to our buyer’s terms.

Unconditional: On the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable buyer’s fee. The deposit will contribute towards the final purchase price of the property. The buyer’s fee will be listed against the property details (inclusive of VAT) and does not contribute to the purchase price of the property. Completion must take place within 20 business days unless the Special Conditions of Sale state otherwise.

Yes, we have a dedicated in-house mortgage team at Knight Frank Finance who can help you arrange a mortgage to buy a property at auction. This process is slightly different from securing a normal mortgage, as you usually only have 20 business days to complete a successful bid. Auction buyers therefore need their finance arrangements to be pre-approved in order to bid at an auction, either with a mortgage in principle or by a bridging loan as a short-term solution. We will make sure you have the right finance in place, with enough time, so your auction purchase goes smoothly.