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Buying at auction

A step-by-step guide to bidding with confidence on a Dowen online auction.

1. Find a lot

Browse current auction properties. Each listing shows the starting bid, the closing date and the legal pack.

2. Do your homework

View the property, read the legal pack with your solicitor and arrange your finance before you bid. Check the special conditions for any extra costs.

3. Register to bid

Register on the auction platform and complete ID checks. You will need to provide card details for the reservation fee.

4. Bid

Bidding is online and transparent. If you are the highest bidder above the reserve when the auction ends, you win.

5. Reserve

The winning buyer pays a non-refundable reservation fee of 4.5% of the price, minimum £6,600 inc VAT, and signs a reservation agreement.

6. Complete

You have 56 days from receipt of the draft contract to complete, which gives time to arrange a mortgage.