Buying at auction is exciting but risky. With limited viewing time and no backing out, preparation is everything. Our checklist helps you assess auction properties quickly and spot hidden costs before you bid.
When you win at auction, you're legally committed. You pay 10% deposit immediately and must complete (typically within 28 days). If you discover problems afterwards, you cannot withdraw. Any issues you miss become your problem. Pre-auction due diligence is not optional - it's essential.
Auction properties often have issues - that's frequently why they're being sold this way. Your viewing may be your only chance to identify problems before committing.
Block viewings are short, often with other buyers present. You need a systematic approach to cover everything quickly.
Repossessions and probate sales may have deferred maintenance. Vacant properties deteriorate. Issues may be deliberately concealed.
Unlike normal purchases, you can't renegotiate after the auction. Your bid must account for all repair costs upfront.
With limited viewing time, prioritise these critical checks. Use our app to work through them systematically.
Request a second viewing. Most auctioneers will accommodate serious bidders. Use the first viewing for overview, second for detailed assessment with our tool.
Auction guide prices are often low for a reason. Factor these common hidden costs into your maximum bid.
Buyer's premium
2-4% of hammer price
Check auction terms
VAT on premium
20% of premium
If applicable
Legal fees (urgent)
£1,500-£3,000
Fast turnaround premium
Survey (pre-auction)
£400-£1,000
At risk if you don't win
Immediate repairs
Varies
Use our assessment
Clearing costs
£500-£2,000
Repossessions often left
Utility reconnection
£100-£500
If disconnected
Security/insurance
£200-£500
Vacant properties
The legal pack is available before auction. Have your solicitor review it - this is not optional.
Use SurveyReady during your viewing to systematically check for issues and get cost estimates. Helps decide if a full survey is worthwhile.
Cost: Free | Risk: None
For post-1930s properties in reasonable condition. Quicker to arrange than building survey. May be sufficient for lower-value auction lots.
Cost: £400-£700 | Risk: Lost if you don't win
Recommended for older properties or those showing significant issues. Most thorough option. Schedule early as takes 1-2 weeks.
Cost: £600-£1,500 | Risk: Lost if you don't win
Yes, and we strongly recommend it. You can instruct a surveyor before the auction (at your own risk if you don't win). Many auction properties have issues - that's often why they're being auctioned. A survey protects against nasty surprises.
When the hammer falls, you're legally committed. You must complete within 28 days (typically) or lose your 10% deposit and face legal action. This is why pre-auction due diligence is critical. There's no backing out.
Block viewings are typically 30-60 minutes with multiple buyers present. You may be able to arrange a private viewing by contacting the auctioneer. Always request the maximum viewing time possible.
Essential checks: title documents, searches, special conditions of sale, any tenant agreements, outstanding charges, access rights, and planning issues. Have a solicitor review the pack before you bid.
Common reasons include: repossession, probate sales (deceased estate), quick sale needed, properties needing significant work, unusual properties that are hard to mortgage, or properties with legal complications. Understanding why informs your approach.
Don't bid blind. Use our free assessment tool to identify issues and estimate costs before the hammer falls.
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