Frequently asked questions for buyers.


Both sellers and buyers are bound when they agree to the terms and conditions of Discount Property Auction. When the auction finishes, we take a non-refundable £1000 reservation fee from the buyer’s debit/credit card, which acts as an exchange of contracts.

What do I get as a member?

Once a member you can:

• Access free valuation reports

• Arrange surveys and viewing of properties

• Obtain the precise location of the property

• Sign up for free property alerts, matching your set criteria

• Bid on properties in the auction


There is a one-off joining fee for £19+VAT and then you can use our PAY-AS-U-GO monthly subscription service of £9.99+VAT per month. For this you can view the members only area and have access to detailed information and are able to bid on as many properties as you like.

Monthly subscriptions are paid at the end of the month but only for the months you have used and on successful completion of a purchase, a 2% fee will be applicable.


Our mortgage brokers can show you how to use the discounts in the properties (when you buy) as deposits. They have been practising this method for many years and have contacts at the relevant banks and mortgage lenders necessary to do these types of deals.


When you win a property in the auction, a non-refundable £1000 is taken off your debit/credit card which acts as the property exchange. You need to be able to complete the property in 28 days.


Buyers need to be a member to place bids and must be logged into the website with their unique username and password. Members can start to place bids only once the properties have entered the Live Auction section of the website. At the time of placing a first bid on any new property you will be asked to provide debit/credit card details so that a £1000 reservation fee can be taken. The reservation fee is only taken if you are the successful bidder when the auction finishes and not unless this happens. Click here to sign up.


Whilst the properties are displayed in the Pre-Auction Viewing section, members are able to view properties’ particulars, and arrange surveys and viewings if required. The time allocated for this will be displayed by the countdown and may vary depending on whether we are waiting for documents to be received. When the Pre-Auction Viewing time has ended the properties will automatically move into the Live Auction section.


Members can start to bid once the properties have entered the Live Auction section. The countdown will last for approx. 5-10 days.


Discount Property Auction offers a unique way to buy investment properties at genuine discounts. As bids are legally binding once the reserve price has been met, we advise all buyers to carry out their own due diligence on every property they intend to bid on. You need to be confident of the amount you are prepared to pay and have your funding in place to complete should you be successful.


If you are the first bidder you can bid any amount. The current market value will always be displayed and you should bid what you are prepared to pay. If a member has already made a bid on a property you will be able to view the current bid and you can choose to place a higher bid. The minimum amount to outbid another buyer is £500. 


As long as you are a member and have logged in, you will be able to see whether the reserve price has been reached before you place a bid. You may be the highest bidder but still not have reached the reserve price – this will be clearly displayed.


This is the minimum amount that the seller has agreed to sell the property for and is written into the contract that the seller signs prior to auction. Sellers have to be prepared to accept a discounted price for the property in order to qualify for the auction and the reserve amount is usually between 75%-80% of the current market guide price.


You will automatically be notified by email if a higher bid has been made. Once you have logged back into the website you will see the amount you need to bid to become the highest bidder again.


If you are the successful bidder then you will automatically be notified by email. The £1000 reservation fee will be taken from your card at this point and a solicitor from our panel will be allocated to represent you. You will be emailed details of your solicitor.


Your solicitor will contact you in order to start the conveyancing process. You will also receive by email a Memorandum of Sale which confirms all the purchase information. If you requested broker assistance for your financing needs when you placed your bid, they will also contact you at this stage and you will be notified of their details. You can however, start to speak to one of our mortgage brokers at any time.


When you have successfully won a property through the auction, you will receive a Memorandum of Sale by Auction (this will normally be emailed to you). This is a legal document and you must immediately print it and sign the form where indicated and return to us with 7 days. We need to forward the signed document to your solicitor as soon as possible. Failure to return the signed form may result in the property being re-auctioned.


This is accessible only to members once they have logged into the website with their unique username and password. It allows you to monitor at a quick glance on one page all the properties in the Live Auction section and the current bidding activity. The information displayed on this page is in “Real Time” i.e. the page is automatically refreshed and updated with the latest information every few seconds. It is very useful if you are bidding on a number of properties.

On this page you can see the current highest bidder’s username so you can quickly check if you have been outbid on any properties you are attempting to purchase.


This function allows you to monitor properties that you are interested in. By placing them in this separate area you can easily refer back to them and check on their status in the auction. You can add and remove as many properties as you like.


All valuations through Discount Property Auction are undertaken by extensive research including Hometrack. The Hometrack report is available for active subscribers to view after they log in.

Hometrack provides an independent Property Valuation Report created by a computer model. The system is used by the majority of High Street banks and mortgage lenders. Click here for mails


Buyers who are Members can arrange a viewing through their My Account area.


Buyers who are Members can arrange a survey through their My Account area.


You should only buy outside of your area if you feel comfortable in doing so. There are ways of managing properties from a distance and we can help you with this. There is no reason why you can’t build up a financially successful property portfolio across the UK.


You need to become a Member and be logged into the website using your unique username and password. You enter these details in the Buyer/Seller login area on any page on the website.


You need to become a Member to see this level of detail.


During the Pre Auction period, you can make an offer to buy the property. If accepted the vendor will remove the property from the auction.

To make an initial offer, simply email info@discountpropertyauction.co.uk with the lot number and offer. We do recommend however you become a member to view the independent property valuation, arrange viewings and more!


We are always eager for your feedback (good or bad!). Please email us with feedback or questions at admin@discountpropertyauction.co.uk