property search · buyer's guide
Buying at
auction —
your guide.
Everything you need to know before you bid — from registering and reviewing legal packs to what happens the moment you win.
before you bid
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Download the legal pack Available on each lot listing. Get your solicitor to review it before you bid — not after.
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Complete Credas ID verification Biometric identity check — required for all bidders. Takes under 5 minutes. Do this at least 24 hours before auction day.
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Arrange your finance Traditional lots: finance must be confirmed before bidding. MMA lots: mortgage buyers welcome.
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View the property Viewing dates are listed on each lot. Always visit before bidding — you cannot renegotiate once you win.
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Traditional
or Modern
Method?
We offer two auction formats. Both run online through the same Bamboo platform. The difference is what happens the moment the auction closes.
Traditional auction (unconditional) — contracts exchange immediately when the hammer falls. You are legally committed to buy from that moment. No cooling-off period, no survey contingency after winning. Finance must be arranged before you bid. The 10% deposit is due the next working day and completion within 28 days.
Modern Method of Auction (MMA) — you pay a reservation fee when you win, which grants you 28 working days to exchange contracts. Open to mortgage buyers. More time for surveys, solicitor checks, and formal mortgage offers — but the reservation fee is non-refundable if you withdraw.
Step by step.
Exchange is immediate on hammer fall. Finance must be in place before you bid.
When the auction closes and you hold the highest bid above the reserve, contracts exchange at that instant. There is no right to withdraw, no cooling-off period, and no survey contingency. Everything you need to know about the property must be established before the auction — not after. The steps below take you through the full process from finding a lot to receiving the keys.
Find a lot and download the legal pack
Browse all live and upcoming lots on the Bamboo platform. Each listing includes the guide price, auction date, and a downloadable legal pack — the full set of title documents, searches, and special conditions prepared by the vendor's solicitor.
Instruct your solicitor to review the legal pack before you bid. You cannot renegotiate terms after winning.Arrange confirmed finance
Traditional auction requires buyers to have finance fully arranged before bidding. A mortgage in principle is not enough — your offer must be formally confirmed. Cash buyers should ensure funds are immediately accessible, as the deposit is due the next working day.
Register and complete Credas ID verification
Create a free bidder account on the Bamboo platform and complete Credas biometric identity verification — a government-issued ID and a short video selfie. This is required by anti-money laundering regulations and must be completed before you can place any bid.
Complete Credas at least 24 hours before auction day.View the property
Viewings are listed on each lot page. Visit before the auction — you cannot use the condition of a property as grounds to renegotiate or withdraw once you win. If you have difficulty arranging a viewing, call us on 0116 216 6777.
Bid live or set a proxy bid
On auction day, log in to the Bamboo platform and bid in real time. If you cannot watch live, set a maximum proxy bid and the platform will bid on your behalf up to your limit. Any competitive bid placed in the final five minutes extends the timer by five minutes.
Proxy bids are not disclosed to other bidders.Win: exchange of contracts
If you hold the highest bid when the auction closes and the reserve has been met, contracts exchange immediately. This is legally binding. A memorandum of sale is issued to both parties. You are committed to purchase at the winning price.
Pay the 10% deposit
The 10% deposit is payable the next working day. It is held by the vendor's solicitor and applied to the purchase price on completion. Failure to pay puts you in breach of contract.
Ensure funds are readily available before auction day.Complete within 28 days
Completion — transfer of the balance and collection of keys — takes place within 28 days of the auction close. Your solicitor manages the conveyancing in this window. Failure to complete within the timeline means forfeiting the deposit and potential further liability.
Step by step.
Reservation fee on winning. 28 working days to exchange. Open to mortgage buyers.
When you win an MMA auction, you pay a non-refundable reservation fee immediately. This grants you exclusivity — no one else can buy the property during your window. You then have 28 working days to exchange contracts, followed by a completion date typically 10–14 working days later. Because you have post-auction time for surveys and a formal mortgage offer, this route is open to mortgage buyers and those who need more time to complete due diligence.
The reservation fee is the key commitment: if you withdraw from the purchase, you forfeit it. Carry out as much due diligence as possible before the auction to avoid this outcome.
Find a lot and download the legal pack
Browse available lots on the Bamboo platform. Each lot is clearly labelled as Traditional or MMA. Download the legal pack and instruct your solicitor to begin reviewing it — even though you have time post-auction, starting early reduces pressure.
Arrange a mortgage in principle
You need a mortgage in principle agreed before you bid. The 28-working-day exclusivity period is sufficient for most lenders to issue a formal offer, but only if your application is already in progress.
Confirm with your broker that your lender will accept an auction purchase.Register and complete Credas ID verification
Create a Bamboo bidder account and complete biometric Credas verification — required for all bidders regardless of auction type. A government-issued ID and a short video selfie. Takes under five minutes.
Complete Credas at least 24 hours before auction day.View the property
Viewing dates are listed on each lot page. While you can commission a formal survey after winning, visit the property before you bid. The reservation fee is non-refundable — do not commit without seeing what you are buying.
Bid live or set a proxy bid
Bid in real time on auction day or set a maximum proxy bid. Competitive bids in the final five minutes extend the timer by five minutes. The auction ends only when no competitive bid arrives in the extension window.
Win: pay the reservation fee
When the auction closes in your favour above the reserve, you pay the reservation fee immediately — the amount is stated on the lot listing before the auction. This is non-refundable if you withdraw.
The reservation fee is separate from the purchase price.Commission a survey and progress your mortgage
From the point of winning, you have 28 working days to exchange. Instruct your solicitor, commission your survey, and progress your formal mortgage offer in this period. Your solicitor should already have the legal pack.
Exchange contracts
Exchange takes place within 28 working days of auction close. From this point, the sale is legally binding on both sides — neither party can withdraw without penalty.
Complete
Completion is agreed at exchange — typically 10–14 working days later. The balance of the purchase price is transferred and you collect the keys. The reservation fee is applied as set out in the auction terms.
Which route
suits you?
| Traditional | Modern Method (MMA) | |
|---|---|---|
| Finance required | Confirmed before bidding | Mortgage in principle — offer confirmed post-win |
| Exchange of contracts | Immediate on auction close | Within 28 working days of auction close |
| Completion timeline | Within 28 days of auction close | 10–14 working days after exchange |
| Payment on winning | 10% deposit (next working day) | Reservation fee (payable immediately) |
| Surveys / due diligence | Must be done before auction | Can be instructed post-auction (within exclusivity) |
| If you withdraw after winning | Forfeit 10% deposit + further liability | Forfeit reservation fee |
| Suitable for | Cash buyers, investors, auction specialists | Mortgaged buyers, first-time buyers |
Buyer questions,
answered.
need help?
Questions about
a specific lot?
Our team can advise on individual lots, help you read a legal pack, or recommend a solicitor experienced in auction purchases.
