Choose your target
Decide whether the property is for a home, a rental investment or refurbishment. Check the location, comparable sales, likely rent or resale value, and the condition you can realistically take on.
Buying Property at Auction
Buying Property at Auction
Buying property at auction book for 2026 written by Tuna Fish Property Director, Dominic Farrell
If you want to understand our track record, it's all in the book going back to the financial crisis of 2008. There are many lessons and strategies which are applicable in 2026. Many of the properties we are sourcing for clients are of exceptional value. Please call us to discuss.
Whether you're completely new to property auctions and buy-to-let or a seasoned investor, Property Auctions: Repossessions, Bankruptcies and Bargain Properties contains the expert information, insight and guidance you need to improve your skill and profits in any market climate. Whatever your interest in property investment; whether you want a quick return or maybe to fund your retirement long-term, Property Auctions will give you the skills to achieve your financial goals, and not just in rising markets but all market conditions; rising, falling or stagnating.
This book demystifies the acquisition of 'distressed' properties at auction and shows you how to make money whatever the economic weather. It brings together all of the key concepts that successful property auction investors focus on which, when combined, will give you a solid platform on which to base investment decisions.
The first part of the book details the tools and techniques to help you identify, analyse and filter properties, shortlisting your targets. The second part takes you through the actual viewing and buying process and the tactics involved to be successful.
Property Auctions also gives clear, concise and detailed guidance on raising finance and the auction legal process - two essential components of the journey which are key to success. All the principles are fully evidenced with real-world case-studies to show how the theory works in practice.
There is no better place to purchase below market value properties, whether to hold for the long-term or develop, add-value and sell.
A practical guide for buyers
Buying property at auction, step by step
A guide price can catch your attention, but the decision to bid starts with the property, its legal position and the complete cost of the purchase. Work through the checks before bidding so you know what you are buying and the maximum price that works for you.
View and inspect
View the property where possible and consider a survey or specialist advice. Check access, boundaries, occupancy, visible repair needs and whether your lender will accept the property in its current condition.
Read the legal pack
Have a solicitor review the title and sale conditions before you bid. Check the completion date, extra charges, tenancy or lease details where relevant, and any addendum issued before the auction.
Arrange funds and bid
Confirm the deposit and how it must be paid, the balance needed for completion, insurance responsibilities and the auctioneer's registration requirements. Set your maximum bid in advance and stick to it.
Know the total cost
Work out your maximum bid
Start with a supported view of the property's value and your intended exit or rental return. Allow for the purchase price, tax, legal and auction charges, survey, finance, insurance, repairs and a contingency. Your maximum bid should still leave room for the return you need.
The guide price is an indication used to market the lot. It is not the final price, and the seller's reserve is the minimum at which the property can sell. Bidding can move quickly beyond both.
Before the auction
What to check in the legal pack
Ask your solicitor to review the title, general and special conditions of sale, searches where provided, completion deadline and any lease, tenancy or other documents that matter to your plan. Check whether the buyer must pay the seller's legal costs, a buyer's premium or auction administration fees.
Read the latest particulars and addendum again immediately before bidding. Documents and terms can change during marketing.
Know when you become committed
Traditional and conditional auctions
Traditional auction
In an unconditional sale, a successful bid at or above the reserve normally creates a binding contract when the hammer falls or the online auction closes. A deposit is usually due immediately, with completion on the date set out in the sale conditions.
Conditional auction
Often called the modern method, this usually involves a reservation agreement after bidding and a later exchange of contracts. A reservation fee may be payable on top of the purchase price. Check who receives it, whether it is refundable and the deadlines for exchange and completion.
Questions buyers ask
Buying at auction FAQs
Can I buy at auction with a mortgage?
Sometimes, but the property and timetable must work for the lender. Arrange advice and a valuation early, and have a reliable plan for the deposit and completion. Some lots may be unsuitable for standard mortgage lending.
Do I have to pay more than the winning bid?
Possibly. Auctioneer fees, a buyer's premium, seller's legal cost contributions, tax and your own professional costs may apply. Check the particulars, legal pack and latest addendum before setting your maximum bid.
What if the property does not sell during the auction?
If bidding does not meet the reserve, the lot may remain unsold. You can ask the auctioneer whether the seller will consider a post auction offer, and on what terms.
When should I arrange insurance?
Check the sale conditions before bidding. In many traditional auctions the buyer takes on the obligation to insure from exchange, which is normally at the fall of the hammer.
Plan before you bid
Discuss a property with us
Tell us your budget, location and investment goal. We can talk through the appraisal, the legal pack and the bidding process.
Further reading: RICS property auctions guide and The Property Ombudsman's buyer guide.
Property Auctions Liverpool
There has never been a better time to buy properties at auction whether for a new home or investment purposes. The pendulum has swung in 2026 from buying at private treaty through an estate agent, to buying bargain properties at auction.
Properties are generally sold at auction in order to achieve a quick sale to raise cash or because there are some issues which make private treaty more problematic.
Repossessed Houses for Sale Liverpool
Auction properties may be repossessed, have planning issues, legal issues, such as missing freeholder or title problems, or sold by housing associations to raise cash. They may be the subject of probate or a divorce. There are many reasons properties are sold at auction.
All of these factors present excellent opportunities for the discerning property investor looking to purchase below market value with a high yield.
So, where do you start?
Buying at auction requires similar due diligence to buying through an estate agent or receiver/administrator. The most important factor is selection of the property. It must fit your goals, whether yield, price or potential after refurbishment.
You must understand the location. This is critical, as 500 metres can make a massive difference in terms of the success or otherwise of a buy to let investment.
There are two major differences to buying at auction rather than through an estate agent:
1. Exchange of contracts happens when the gavel hits the block, or when the online auction time expires.
2. Completion is generally 28 days after exchange.
You must have cash, bridging or other finance in place.
The photo on the left is a real example of a property Tuna Fish sourced and bid on for an investment company client. The freehold house has a yield of 9.7% to 10% at the target rent. No refurbishment required.
Tuna Fish and associated companies have been buying properties at auction or through receivers for many years. We started with the opportunities presented by the 'Credit Crunch' in 2008. Properties were acquired in London, Leeds and Liverpool for clients with huge capital gains and income over the subsequent 18 years.
The example on the right was purchased during the financial crisis with a huge discount to market value.
Later, properties have been acquired solely in Merseyside and Wirral, from 5 storey, city centre office blocks, to traditional '2 up, 2 down' bread and butter terraced houses.
Buying properties at auction is a tried and tested route to acquiring excellent investment properties at significant discounts. Other than through receivers and administrators, there is no better way and as UK economic circumstances change, bargains at property auctions will increase, rather than decrease.
Now is the time for action!
Property Sourcing Liverpool
What happens next?
- Contact us and you will speak with the director responsible for property sourcing and auctions.
- Make a plan
- Tuna Fish will offer a property investment in Liverpool that fully meets your requirements. We will have viewed the property and undertaken an investment appraisal and estimated any costs should any form of refurbishment be required.
- Agree on a maximum bid and register for the auction.
- Tuna Fish will bid on your behalf, acquire the property, exchange contracts, and complete in 28 days.
- Refurbishment or renovation works or tenant immediately. There will be no fee to source a tenant and we can provide a rental guarantee. See the rest of the website for our lettings and property management services.
