Property auctions

Buying at property auctions is not just for the experienced investor but is also now a preferred route for those looking for their ideal property, due to the accessibility and benefits that the process offers. Using the Modern Method of Auction to buy your property you can enjoy all of the following benefits:

Virtual Viewing

Quick and easy bidding

Bid online from the comfort of your home, 24 hours a day.
Mortgages

Buy With A Mortgage

It is possible to buy at auction with a mortgage having between 28 to 56 days to complete.
Covid Secure

Security

Gazumping or re-negotiation is no longer a possibility.

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Your initial mortgage appointment is without obligation. Embrace Financial Services normally charge a fee for their services; however, it is payable only on the submission of your mortgage application. The fee will depend on your circumstances but the standard fee is £549. Complex cases usually attract a higher fee. Embrace Financial Services will discuss and agree the fee with you prior to submitting any mortgage application.

A step by step guide to how it works

Buying your property through auction has never been easier or quicker thanks to the Modern Method of Auction.

Traditionally a market limited to cash ready investors, the Modern Method has evolved auctions to be inclusive to a wider variety of buyers and sellers. Namely, it offers fixed yet realistic timescales (an average 28-56 days) to accommodate the typical residential buyer looking to arrange a mortgage. With the Modern Method, the successful buyer can reserve their property until exchange of contracts. This allows buyers and sellers alike the time to arrange their finances and carry out due diligence.

Search

Search through all of our properties up for auction using our property auction search bar at the top of the page.

View

Once you’ve found and viewed your property of choice, our auction team will be in touch to discuss your feedback and potential interest in bidding for the property.

Register

When you are ready to place a bid, you will need to register by creating an account online or by speaking with one of our Auction Specialists. An active account allows you access to further important information, watch lists and the ability to bid.

Buy Information Pack/ Due Diligence

Once registered, you need to do your due diligence before proceeding. To help you, each property has a Buyers Information Pack and we highly recommend that, as well as viewing the property, you also review the information contained within this pack fully, before bidding. It’s also advisable to review the Buyers Information Pack with your solicitor.

Bidding

You can bid online, in-branch, over the phone or at one of our public events. Our online system allows you to view the current bid, the amount of bidders and a live countdown to the end of the auction. You can enter your bids manually or allow our ‘Maximum Bidding’ function to do this for you. Set the minimum and maximum price you’re willing to spend and we will bid on your behalf.

End of auction - reservation process

Through the Modern Method, as the successful buyer, you will be required to pay either a Reservation Fee or Reservation Deposit. The property is then reserved exclusively to you. You are then required to unconditionally exchange contracts and complete the transaction within 56 days.

Through the Traditional Method contracts are exchanged immediately, with completion taking place within 28 days. Complete security is provided but this method is more suited to the property professional. We will require a 10% deposit paid on a non refundable basis and in some cases a reservation fee as well.

Once you have reserved your property, we will go through an identification and verification process with you and you will need to instruct a solicitor to act on your behalf. The sales file will then be passed to our Sales Progression Team, who will provide updates throughout the process. You will have 28 to 56 days in which to complete the purchase.

Property auction FAQs

The most frequently asked questions when it comes to buying a property through auction.

What is the Reservation Fee / Deposit?
How quickly do I have to buy the property?
How do I place bids?
Can I place bids outside of the auction process?
What happens if the reserve price is not met?
Will paying a Reservation Fee increase my Stamp Duty liability?
Can Reservation Fees be included in my mortgage application?
Do the fees go to the auction house or the seller?
If I do not agree to pay the fee can I still make an offer?
What is a Buyer Information Pack?