Conditional Auctions

 

Unlike Traditional or Unconditional Auctions, where buyers must exchange contracts immediately, Conditional Auctions allow the successful bidder a set period to complete their due diligence, arrange finance, and satisfy any agreed conditions before the sale proceeds, making them suitable for both cash and mortgage buyers.

Once the auction has ended, the property is reserved exclusively to the successful bidder for an agreed period provided a non-refundable Reservation Fee is paid.

Timelines are flexible, but most transactions typically complete within 56 days.

Sale Methods
Sale Methods
Sale Methods
Sale Methods
Sale Methods

Buyer Benefits

BidX1's auction platform has facilitated the sale of thousands of properties across Europe, earning the trust of buyers, sellers and property professionals.

Certainty

Once you are the successful bidder and your Reservation Fee is paid; the property is secured for you. You can even exchange contracts straightaway.

Upfront Legal Pack

The legal documentation for every property is available on our website, allowing you to make a fully informed decision before placing a bid.

Clear Timelines

Fixed completion timelines are set upfront to help you plan.

Transparent Bidding

Once bidding opens, all registered parties can start placing bids – all bids will appear in real-time on the relevant property page.

Full Support

Our team of experienced auction specialists are on hand to guide you through the process.

Buyer's Guide

Follow our step-by-step guide to buying a property through a conditional auction.  

 

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Step 1: Review the Property
Once you've found a property, log in to your BidX1 account to access the Legal Pack, arrange a viewing and complete any necessary due diligence. 

 

Step 2: Make an Offer
Click ‘Make an Offer’ on the property page to submit your price and register your interest.
At this stage, a member of our team will contact you to discuss the next steps.
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Step 3: Register to Bid
Before you can take part in the auction, you’ll need to register to bid. This involves completing an ID verification check, and accepting the auction’s Terms and Conditions.
 
Step 4: Place Your Bid
Once your registration has been approved, you can place your bids online and track the auction in real time.
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Step 5: Secure the Property
If you're the highest bidder, you'll need to pay the non-refundable Reservation Fee within 1 hour of the auction closing to secure the property. 
We will then sign the Reservation Agreement on your behalf, giving you 28 days to arrange your finance before completing the purchase.
 
Step 6: Finalise the Purchase
Once the reservation period ends, you will sign the sale contract and agree a completion date with the seller.

 

Buyer Resources

Speak to us directly

Our experienced auction team are on hand throughout the process to guide and support your purchase.