Property auctions, in partnership with estate agencies

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Fees explained

Every fee below is disclosed on the lot before bidding opens. None of them are a surprise at the end, and if you cannot find one on a listing, ask rather than assume it does not apply.

Reservation fee

Payable by the buyer on the Modern Method of Auction, on top of the hammer price. It buys the exclusivity period: the property comes off the market while the legal work runs.

It is non-refundable. If you do not proceed, you do not get it back, and that is what makes the commitment real without contracts having exchanged.

Reservation deposit

On some lots part of the sum taken at the close is treated as a deposit against the purchase price rather than a fee. Where that applies, the lot says so, and it changes what you actually pay overall — worth checking before you set your limit.

Buyer Information Pack fee

Some lots carry a charge for the pack, payable by the buyer on completion. Where it applies it is stated in the special conditions.

Traditional auction deposit

On traditional lots the buyer pays a deposit — commonly ten per cent — at the fall of the hammer, when contracts exchange. This is part of the purchase price, not a fee.

What is not included

Your own solicitor’s fees, your survey, stamp duty, and any costs the special conditions pass to the buyer. Work these out before bidding, because none of them are negotiable afterwards.