1. You can do it in a day

If your bid is successful, you’ll receive a formal contract via email, one of our agents will contact you and you can put down a deposit on the same day. This rules out any chance of counter offers, gazumping or long chains holding up the process.

2. Everything is transparent

As soon as the catalogue is published, legal packs for every property will be available to view, download and comb through, so you'll know exactly what you’re buying. This also speeds up the conveyancing process once you’ve purchased a property.

3. It's not only houses

If you’re looking for a garage close to your home, say, or always wanted your own nuclear bunker, you may well find one up for sale at a property auction. We've seen water towers, former public lavatories, alleyways and plots of land of varying shape and size all go under the hammer, alongside more conventional flats, houses and offices.

4. Nor is it just for cash buyers

Sort out your application in advance and a number of mortgage providers will consider lending on properties in need of modernisation or refurbishment. Bridging loans are another short-term funding option if you’re facing a gap between the sale and completion dates.

5. You can establish market value

Councils, charities and mortgage lenders often sell properties at auction because they believe it is a fair and open way of determining market value. This also creates the opportunity to purchase property that hasn’t been on the market for a significant period of time.

6. You're competing on an even playing field

All competing parties at an auction are in the same boat. There are no biases, just an equal opportunity to bid on the lot of your choice.

7. You could find a good deal

Some of the properties we sell come with no or very low reserve prices. If you get lucky on the day and face little competition you could find yourself walking away with a good deal.

8. It's exciting

The adrenaline rush and thrill of bidding for a property is often a great experience, especially if you win. Even if you are outbid, losing after a few minutes' work is often preferable to a deal falling through after weeks or sometimes months of negotiating.

9. You can do it from home

Online live streamed sales mean you can buy a property from the comfort of your own home – or anywhere for that matter so long as you have a good internet connection. Phone bids, live online bids and proxy bids are all accepted at our auctions and with our live stream you don’t have to miss out on the action, wherever you are.

10. No negotiation

Buying and selling a property though an estate agent can involve a degree of negotiating, whether that’s at an offer stage or later down the line when looking to exchange/complete. At auction, sellers have the reassurance of a reserve price, which means that the property won’t sell if the value is not met by bidders. An auction protects a seller’s interest and also means that a buyer cannot back out or change their mind.  

Further information

Find out when the next auction will be held.

Contact the Savills Auctions teams for more information and guidance or visit the Savills Auctions website.