Buying at an Allsop Auction

Currently all our auctions are being conducted online.

Please note that if you would like to bid on a property, you will need to register and apply to bid online with us before the auction.

Allsop is the market leader in residential and commercial property auctions in the UK, selling over 2,000 properties (£1 billion in value) each year. We hold six commercial and seven residential sales a year, all of which are held in central London. We sell properties throughout the UK giving the greatest opportunity of finding the right property for you.

Do I need to register to bid on a property before the auction?

Yes. If you are intending to bid on a property at any of our auctions you will need to be pre-approved to bid before the sale. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please follow the 'Apply to bid online' link on each lot particulars page in order to register.

Approval to bid can take some time to be granted. We aim to grant approval within two working days of receipt of your registration to bid details. Please allow plenty of time before the sale date to register.

Can I speak to someone in the team?

If you would like to discuss the buying process with someone in the team, or if you would like to enquire about a property you have seen in our catalogue, we would be happy to help.

For full contact details visit our Contact Us page or:

For residential properties please call: 020 7494 3686

For commercial properties please call: 020 7543 6780

Where can I find Allsop's latest catalogue?

Download our App or browse our latest residential and commercial catalogues here

What information do I need before the auction?

  • You must register to bid - If you are intending to bid on a property at any of our auctions you will need to have pre-registered and received our prior approval to bid.

  • View the property - You should always go and see the property before you purchase. There may be viewing restrictions due to the current 'lockdown'. Please see the lot page for details of any viewing arrangements. Please note, at least 48 hours’ prior notice is normally required.

  • Guide Prices - Guide prices are not necessarily figures at which a property will sell. They are only intended to be an indication of the seller’s minimum expectation. They are subject to change throughout the marketing period. So please check the very latest price on our website under ‘guide prices’. If you register as an Allsop subscriber, you will automatically receive guide prices by email.

  • The small print you should read - All lots (unless otherwise stated) are sold subject to the Online Auctioneer Terms, the RICS Common Auction Conditions of Sale (Part), Form of Purchase agreement and any Special Conditions of Sale or Articles of Roup (Scottish properties). We strongly advise prospective bidders to read all our Conditions and Notices. Please note that some Special Conditions of Sale detail the seller's extra costs payable in addition to the purchase price.

  • Legal Documents - Legal documents are usually available to view or download from our website. Alternatively they will be available from the sellers’ solicitors. Please see the relevant lot page for details. Please remember that you buy subject to all documentation and terms of the sale contract whether or not you have read them.

  • Changes to property information - Occasionally changes need to be made to the lot information or the Special Conditions of Sale. If you have added a lot to your ‘watchlist’, you will automatically be notified of any addenda. Before you bid it is essential that you check for any changes that may have occurred, even up to the day of the auction. A final addendum will be made available at the auction and will form part of the contract. Any last minute amendments made on the day will be announced from the Rostrum.

  • Survey - If you decide to have a survey done, we will do our best to make access available but cannot guarantee this due to the current restrictions during 'lockdown'.

  • Arrange finance - If you successfully bid for a property you will be required to provide a 10% deposit immediately following the sale. The buyer's fee will be taken from the bidders security if you are the successful bidder. If you need to arrange a mortgage it is important that you obtain an offer from your lender in principle before the auction day. Most building societies and banks will wish to instruct a surveyor to prepare a valuation report before making a mortgage offer. So you will need to make your mortgage application as early as possible. You will usually need to complete your purchase 20 working days after the day of the auction. You should discuss this with your lender to make sure that this will not be a problem. Some completion periods are earlier than 20 working days. Please check the Special Conditions of Sale for confirmation.

  • Sales prior to the auction - In some instances a seller may consider selling their property prior to auction. It is worth registering your interest online so the Auction Team are aware of your interest. They will keep you up to date, wherever possible, of any possibility of the lot being sold prior to auction. You can make an offer in writing, by email, at any time up to the date of the auction, but if your offer is accepted you will have to be in a position to exchange contracts and pay your deposit immediately.

  • Check availability - We strongly advise you to check the website or call us the day before the auction to make sure that the lot in which you are interested is still available.

What happens if I cannot attend the auction?

PLEASE NOTE THAT UNTIL FURTHER NOTICE ALL OUR AUCTIONS WILL BE HELD EXCLUSIVELY ONLINE. YOU CAN ONLY BID AT OUR SALES BY APPLYING TO BID ONLINE.

The following information relating to remote bidding shall only apply to 'online bidding '.

Visit our Remote Bidding page for details of how you can bid online for these auctions

For our ballroom auctions, we would encourage you to attend the auction in person where possible but if you are unable to attend, we offer remote bidding services as follows:

  • By telephone - we will call you from the auction room
  • By proxy – the auctioneer bids on your behalf
  • Online - follow the auction via our website and place bids online

You will first need to complete the required Registration to Bid processs and as part of this you will be given the opportunity to apply to bid remotely. Once we have processed your application to bid remotely, we will ask you for cleared funds for the deposit and buyer's fee. Full details of our remote bidding service can be found on our Remote Bidding Application page.

What happens on the day of the auction?

The following information should only be read in so much as it is relevant to an online sale. Please see more information in our Online Auctioneer Terms.

If you are attending the auction to bid in person, you should bring with you:

  • Identification - We will need to see the original document or certified copy of the photo ID used in your Registration to Bid.

  • Deposit payment and Buyer's Fee - We will accept a personal or company cheque, debit card, banker’s draft payable to ‘Allsop LLP Client A/C’ or buyer’s solicitor’s client account cheque. If you are paying by cheque, we will require a separate cheque for each lot. Please note that neither cash deposits nor credit card payments are accepted.

  • Solicitor's details - It is strongly recommended that you instruct solicitors prior to bidding. Please bring details of the solicitors acting for you.

Addendum

Before you bid it is essential that you check the printed Addendum. Listen for any announcements detailing any last minute changes that may have been made. These will form part of the Contract.

Start of the Auction

The auction will start promptly at the time stated on our website. The auctioneer will make a number of announcements about the auction procedure. You can read a summary of the auctioneer’s pre-sale announcements here.

Bidding

  • The auctioneer will announce each lot and refer to any last minute changes.
  • The current lot number is usually displayed on a screen next to the auctioneer, which will also display the last bid taken for the lot being offered.
  • The auctioneer will invite bids at a particular level and you can make this bid by raising your hand or catalogue.
  • The auction room is likely to be full, so please make your bids clearly and ensure that you have the auctioneer’s attention.
  • All lots will be offered for sale subject to an undisclosed reserve price (unless stated otherwise).
  • Please note that questions will not be taken by the auctioneer from the floor once the auction is in progress. If you do have any last minute queries, you should speak to a member of the Allsop team. Our advice, if you have any doubts, is not to bid.
  • The auctioneer will regulate the bidding increments and the property will be ‘knocked down’ to the highest bidder, assuming that the reserve is met or exceeded.

On the fall of the hammer

When the hammer falls, if you are the highest bidder at or above the reserve price, you will have bought the lot. A legal and binding contract will have been formed. The property is usually at your insurable risk from this point. Please ensure that you arrange your building insurance immediately after the sale.

What happens if I am the successful bidder?

Buyer’s Form

After the gavel has fallen, you will be approached by a member of the Allsop team. You will be asked for either a printed copy or electronic copy (email on phone) of the prior approval to bid which we will have sent you. You will also be asked to produce the original of the photo ID used in your Registration to Bid.

Please note that none of the details supplied in your Registration to Bid can be changed at this stage unless the seller agrees.

Identification

See above

Deposit

You will be asked to provide a deposit, normally 10% of the purchase price. Please note that cash and credit card deposits are not accepted. Personal cheques, company cheques, debit cards and banker’s drafts are acceptable subject to the Conditions of Sale and to the provisions of clause 4 of the Auctioneer’s Notices Part One – Guidance for Prospective Buyers.

Buyer’s Fee

In addition to the deposit, you will be asked to pay a buyer’s fee for each lot purchased as follows:

  • Properties sold for less than £10,000: a fee of £200 inc VAT
  • Properties sold £10,000 or more: a fee of £1,000 inc VAT

Your Memorandum of Sale

After verification that your photo ID matches that used in your Registration to Bid, and the relevant deposit and buyer’s fees have been paid, you will be given a Bidder Identification Card by way of receipt. After 20 minutes, you should approach the Contracts Desk and hand this card to the staff there who will ask you to sign the Memorandum of Sale. This is your proof of purchase. You will take away the seller’s part memorandum and should give this to your solicitor. We will send your signed memorandum to the seller’s solicitor. Completion will take place within 20 working days, unless otherwise specified in the Special Conditions of Sale.

Please note: Please do not leave the auction room without taking your memorandum of sale. Properties are not sold ‘subject to contract”, ‘subject to finance’ or ‘subject to survey’ when you buy at auction. They are sold unconditionally on the fall of the hammer. If you are the successful bidder, you or the named buyer are legally obliged to complete the sale.

Can I put in an offer on an unsold lot after the auction?

In the unlikely event that the property that you wish to buy does not sell, you should register your highest bid with us before you leave the auction room.