Buying a property at auction: The pros, cons and some top tips
WEBMay 30, 2023 · In the first there is a set day and time and interested buyers will make bids in quick succession. With modern auctions, meanwhile, bids are made online up until a final time and date. In all auctions the seller will set a reserve price which is the lowest price at which they will sell. The highest bidder over this price obtains the property.