Guides
Bidding at an online property auction
Written for buyers, and a good illustration of how the auction rules are enforced by the software rather than left to interpretation.
What does the guide price mean?
It is a marketing indication of where the vendor expects interest to start. The reserve is the confidential minimum the vendor will accept, and it can be higher than the guide.
What do I need before I can bid?
A verified account, photo identity, proof of address, your solicitor's details, and an acknowledgement of the current legal pack. Approval is a human decision by the auction administrator.
How much do I have to increase my bid by?
Each lot publishes an increment. The platform rejects anything below the next valid step, so there is no ambiguity about who is in front.
What if someone bids in the last seconds?
A bid near the close extends the clock. Bidding only ends when a full extension window passes with no new bid, so a lot cannot be won by timing alone.
What do I pay if I win?
A 10% deposit immediately, plus the buyer's fee (1.5% plus VAT, minimum €4,500). Contracts go straight to both solicitors and the memorandum of sale is generated automatically.
What if the lot doesn't reach its reserve?
It is marked provisional. Your bid is passed to the vendor and the negotiation continues in the same record, so nothing is lost.
For agencies
Every rule above is a setting, not a habit
Increments, extension windows, deposit percentages, fee structures and approval requirements are configured per sale, and the platform enforces them consistently.