Allsop is the leading property auctioneer in the UK
We hold seven residential and six commercial auctions in the UK every year, selling a wide range of properties for occupation, development or investment.
Quicker than other methods
One of the main benefits of buying property at auction is the speed at which the whole process can be completed. Buying through agents can take months, but an auction purchase can be over in a matter of minutes. If you’re the highest bidder when the hammer falls, you’re legally bound to buy it. You’ll have to provide a 10% deposit on the day of the sale, with the remainder payable 20 to 30 days later.
Auctions allow you to take advantage of a much more open and transparent buying process. You are aware of all the other buyers and know how many people are interested in the same property as you.
There is no pressure to get your offer in first, as with other property buying methods. When it comes to timing, auctions offer a ‘level playing field’. Sales don’t fall through due to lengthy delays from other parties or breakdowns in communication.
Greater choice of properties
There’s also usually a wider range of properties on offer at auction. Allsop alone has anywhere between 350 and 500 UK properties, across commercial and residential, up each time. You’ll find information on all properties in the auction catalogue, which is made available in print and online around 3 weeks before the day itself.
Choice of ways to bid
If you can’t be at the auction in person, there are several ways to bid remotely:
- By proxy – The auctioneer will place bids on a your behalf up to a specified limit
- By telephone – Call into the auction room and bid over the phone
- Online – After completing a registration form, you’ll be able to bid online simply clicking the highlighted increments on screen
For more information on buying at auction, watch our Guide to Buying Video below or contact a member of the commercial or residential team.
Preparing to bid at auction
Buying at auction
Latest: Annual Review 2016.
Our auction reviews provide analysis on properties sold, yields and the types of vendor selling at auction, comment on emerging buyer trends and an outlook for the year ahead.