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Secure & Transparent Online Auctions
Here at Auction Inspire, we strongly believe that acquiring property should be thrilling, straightforward, and safe. Whether you’re looking to buy land, embark on a development project, seize an investment opportunity, or find your dream home, our online auctions streamline the experience to be quick, easy, and hassle-free. Be sure to read the listing details and legal documents before placing a bid, as terms may vary.
Online Auction Platform Overview
Our Online Auction platform offers two distinct methods of sale:
Traditional Unconditional Online Auction
- The exchange of contracts occurs instantly at the end of the designated auction period.
- If you are the winning bidder, you are legally obligated to complete the purchase.
- You must pay the reservation fee upon sale agreed & deposit
- This format operates just like a live auction but is conducted entirely online.
- Completion will take place up to 28 Days after the exchange.
Modern Conditional Online Auction
- Upon winning, you enter up to 28-working-day reservation period to finalise the exchange.
- A further up to 28 Days will then take place for completion
- You must pay the reservation fee upon sale agreed
- During this time, the seller cannot accept alternative offers.
- This option provides additional flexibility for buyers while ensuring security for both parties.
Step-by-Step Bidding Guide
1. Register
- All bidders must create an account first. This process is simple and only requires your details to be input to our system.
- After registration, you can search, download legal documents, arrange site viewings, and contact the agent or solicitors if you have any property inquiries.
2. Verify Identity
- We prioritise identity verification for all bidders, so authorization is necessary before placing a bid and this is legal requirement set out in AML regulations.
- The process is quick: fill out a brief form and provide either a passport MRZ number or a driving license number. Verification takes place online, and results are immediate.
- This check will leave a soft footprint on your credit report but won’t impact your credit rating. Click on “Dashboard” after logging in, located in the upper right corner. Navigate to your profile and select the ‘Identify Verification’ tab on the left to complete the form—make sure to have your driving license or passport handy.
3. Place Your Bid
Once you’re fully authorised, you can start bidding. Follow these user-friendly steps:
Traditional Auction Bid
- Provide the details of your solicitor/conveyancer to ensure a smooth exchange/completion process if you win. We’ll only reach out to them if you are the successful bidder.
- Enter your payment information. If you win, the reservation fee will be charged immediately. Refer to the “Buyer Information – Fees” document in the property’s documents section for specifics. Charges apply only if you are the successful bidder.
- You must transfer the remaining deposit (10% of the purchase price minus the part payment towards the purchase) by 12 PM UK time the next business day and submit all signed documents.
- Please bid responsibly; if you win, you are legally required to pay the total purchase price. We recommend ensuring funds are ready before placing your bid and only bidding within your limit.
Conditional Auction Bid
- Enter your payment details. If you win, the Reservation Fee will be charged. All fees are detailed on the property listing; contact us directly if you have any questions.
- You will have up to 28 working days to finalise the exchange (unless agreed otherwise with the seller).
- You will then get up to a further 28 Days to complete the transaction.
- Confirm the terms and submit your bid!
- Please bid responsibly; if you do not complete the exchange within the 28 Day period, you will forfeit any applicable fees and be liable for the entire reservation fee.
Is my property suitable for auction?
Yes. Any type, style, design, or price of property, whether residential or commercial can be sold at auction. In auction it is all about the your or clients circumstances, that is more important than they type of property.
Do I have to proceed after I have referred the property?
- Speaking to the auction team does not lock you in.
- The first conversation is just to explore your situation and clarify options.
- You only proceed if you’re comfortable; there’s no pressure.
Are Auctions just for rundown or “problem” properties
- Ideal for rundown, vacant, inherited, or problem properties, but condition isn’t the only factor.
- Also useful for properties with development or improvement potential.
- Many sellers choose auction for a fast, certain sale with a clear end date, not because of property condition.
Will Your Property Sell?
- Only properties that are priced and strategized correctly go to auction.
- The team work with you to ensure bespoke marketing to attract serious buyers.
- Success depends on preparation and buyer competition, not just listing the property.
What Sets This Auction Service Apart
Experience, knowledge of the markets and hands-on approach—deal with qualified auctioneers:
- No long contracts we only take properties they believe can sell.
- Structured to maximize the sale price for the seller and you the agent
- No unnecessary high hidden fees for your buyers
- Avoids long chains, last-minute finance issues, or unproceedable buyers
When do you hold auctions?
- Live monthly auctions covering the whole of the U.K.
- Online auctions ending daily, providing flexibility and frequent selling opportunities.
- Auctions occur online in 28 day cycles, with the sale agreed on the day if the reserve is met.
- Completion happens either 28 or 56 days after auction sale agreed
- Pre-auction period ensures momentum and genuine buyer interest, rather than a rushed sale.
How quickly do I need to move?
- Unconditional auction terms: Immediate exchange of contracts, with completion within 28 days.
- Conditional auction terms: Completion within 56 days.
- The unconditional route is the quickest way to sell.
Can I accept offers outside the auction?
- Yes. Offers can be made before, during, or after the auction. You can choose to accept a bid at any time. The auction team will ensure the buyer agrees to the auction’s terms of security and speed.
- If your property generates a lot of interest, we usually recommend waiting until the auction date to see if higher bids come in.
- Ultimately, the decision to accept an early offer is yours.
- Your property has a reserve price, which acts as a safety net. It guarantees that your property will not sell for less than your set minimum.
Step 1: Find & Register
Locate the property you wish to bid on and click the ‘Register to Bid’ button. Complete the registration by providing your ID and solicitor details for verification.
Step 2: Expert Review
Our team will review your registration and documentation. Once approved, you will receive an email confirmation granting you authorization to place bids.
Step 3: Place Your Bid
When the auction opens, use the bidding widget to place bids in pre-determined increments. You can also set a ‘Maximum Bid’ to allow the system to bid on your behalf automatically.
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