🇬🇧 United Kingdom Auction Playbook

Overview

The UK auction market is run by private auction houses (Allsop, Savills Auctions, SDL, etc.) rather than courts. Properties include repossessions, probate sales, council disposals, and distressed assets. The market is mature, well-regulated, and increasingly online.

How UK Property Auctions Work

1. 1

   Auction houses publish catalogues 3–4 weeks before the auction, available online and in print.

2. 2

   Each lot has a legal pack prepared by the seller's solicitor, containing title documents, searches, and special conditions.

3. 3

   Bidders should review the legal pack with a solicitor and arrange financing before the auction.

4. 4

   Traditional auctions: held in person with an auctioneer. Online/timed auctions run for a set period.

5. 5

   On the fall of the hammer, the buyer is legally committed. A 10% deposit is paid immediately.

6. 6

   Completion (full payment) is typically within 28 days (20 working days). Some lots have longer completion periods.

7. 7

   The buyer's solicitor handles the transfer and land registry registration.