Auction rules

These rules apply to every online auction on FinalBid. By registering you agree to them. Each lot also has its own legal pack and special conditions. If they say something different, the special conditions apply for that lot.

The common auction conditions used across the UK property auction industry may also apply where the legal pack says so.

You must register, accept these rules, and pass our identity checks before you can bid. We may refuse or withdraw approval at any time, without giving a reason.

If you bid for someone else or for a company, you must tell us first and give us their details. You are personally responsible for the bid unless we have agreed otherwise in writing.

A guide price is an indication of the seller's current minimum expectation. It is not a valuation and may change before the auction.

The reserve is the minimum price the seller will accept. It is confidential. The lot page shows only whether it has been met. The seller may lower the reserve during the auction.

Each lot has a bid step. A bid must be at least the current highest bid plus one step, or the starting bid if no one has bid yet. Bids are in whole pounds. You cannot bid against yourself when you are already the highest bidder.

A bid is final once it is accepted. Please check the amount before you confirm.

Any bid in the final 5 minutes extends the end time to 5 minutes after that bid. This can happen any number of times. Our server clock is the official time.

When bidding ends, and the reserve has been met, the highest bidder is the buyer. At that moment a binding contract is formed. Contracts are treated as exchanged on the terms in the legal pack, the special conditions and these rules. You cannot pull out.

The buyer must pay a deposit of 10% of the purchase price (minimum £5,000), within 24 hours of the end of the auction. If the deposit is not paid on time, the seller may treat this as a breach of contract and claim their losses from the buyer.

The buyer pays us a buyer's fee of £1,500 plus VAT for each lot, at the same time as the deposit. Some lots have other costs set out in the special conditions, such as the seller's search costs or a contribution to their legal fees.

Unless the special conditions say otherwise, completion takes place 28 days after the auction. Interest and other costs may be payable if completion is late.

Each lot has a legal pack to download from its lot page. You are treated as having read it, and the special conditions, before bidding, whether you have or not. Documents may be added or changed up to the end of bidding. Please check for updates.

The property is sold as it is. Descriptions, photos and plans are for guidance only. They are not part of the contract. You should view, survey and make your own enquiries before bidding.

The seller may withdraw a lot, or sell it before the auction, at any time before bidding ends. We may also postpone, pause or cancel an auction, for example if there is a technical problem. If an auction is paused, we will extend the time so bidders do not lose out.

We do our best to keep the site running, but we cannot promise it will always be available. We are not responsible if a bid is not received because of a problem with your device or internet connection. If you are worried, arrange a telephone bid.

We use your details to run the auction, check your identity, and meet our legal duties, as set out in our privacy notice.