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Property auctions

Buy and sell by modern online auction with Dowen and our partner iamsold. Faster, more transparent and more certain.

Current auction properties

Why sell at auction?

The Modern Method of Auction gives buyers time to arrange finance while giving you the certainty of a committed buyer. Once the auction ends, the buyer has 56 days to complete, so chains are shorter and fall-throughs are rarer.

Dowen was a founding member of the Great North Property Auction in 2012 and has been selling at auction ever since.

  • A committed buyer when the auction ends
  • 56 days to complete
  • Transparent bidding, open to all
  • Suitable for any property type
  • Conveyancing pack prepared by Medway Law
Signing a contract beside a laptop

How it works

  1. AppraisalYour local valuer advises on a starting bid and reserve.
  2. Legal packA conveyancing pack is prepared so buyers can bid with confidence.
  3. MarketingYour property goes live on the portals and the auction platform.
  4. BiddingBuyers bid online. The highest bidder above the reserve wins.
  5. ReservationThe buyer pays a reservation fee and signs a reservation agreement.
  6. CompletionThe sale completes within 56 days.

Auction FAQs

What does the buyer pay?

The buyer pays a non-refundable reservation fee of 4.5% of the purchase price, subject to a minimum of £6,600 inc VAT, on top of the purchase price.

How long does the buyer have to complete?

56 days from receipt of the draft contract.

Is there a cost for the auction legal pack?

Yes. The auction pack costs £495 and is prepared by Medway Law.

How long is the agency agreement?

Sole agency runs for 60 days.

Can I withdraw my property?

Within the first 60 days you can withdraw on 21 days’ notice with a fee of £360. After 60 days you can withdraw on 14 days’ notice with nothing to pay.

Can I buy with a mortgage?

Yes. The 56-day completion period gives most buyers time to arrange a mortgage. Speak to a mortgage adviser before you bid.

Thinking of selling at auction?

Book a free auction appraisal with your local Dowen valuer.