Buyer's Guide

How our land and property auctions work

Participating in our online auctions is straightforward and user-friendly. Before placing a bid, it's crucial to review the property listing and legal documents, as terms may differ. Our goal at Herbert R Thomas is to make purchasing your investment or dream home an enjoyable and seamless experience. We offer two distinct auction methods:

1. The Traditional Auction: This method mirrors the immediacy of a live auction room but takes place online. Winning bidders are expected to promptly complete the property purchase at the end of the auction period. Properties available under this method are labelled "Traditional."
2. The Conditional Auction: Winning bidders are granted a 20-working-day period to finalise the exchange post-auction. During this time, the seller will not entertain other offers. Properties available under this method are labelled "Conditional."

How to Register

To begin bidding, you must register and verify your account using only your email address. Registration is a simple process accessible via the link at the top right corner of our Online Property Auctions page. Once registered, you can access legal documents, arrange viewings, and consult with auctioneers and solicitors regarding any property inquiries. When authorised, you're set to bid. Our bidding process is designed for ease of use, ensuring a smooth experience for all participants.

How to Place Your Bid

Upon complete authorisation, you are eligible to initiate a bid.

To bid, simply follow these user-friendly steps:

For Traditional Online Auction Properties:

The exchange is instantaneously conducted online at the close of the designated time frame, legally obligating you to finalise the property purchase.

1. Provide your legal representative's details – This information is crucial to facilitate a seamless exchange and completion process should you emerge as the winning bidder. Your legal representative will only be contacted in the event of your successful bid.
2. Enter payment information – A buyer's fee and a deposit contribution will be charged to the winning bidder, secured in a client account on behalf of the seller as a holding deposit (refer to the "Buyer Information - Fees" section within the legal documents for each property for more details). Charges apply exclusively to the winning bidder.
3. The subsequent business day by 12pm, you are required to transfer the remaining deposit amount (10% of the purchase price minus any partial payments made towards it) and provide all signed documentation, as directed by the auctioneer.

For Conditional Online Auctions:

Following the designated time frame, you will enter a reservation agreement with the seller and have 20 working days to exchange contracts. Failure to do so may result in the forfeiture of your reservation fee.

1. Enter payment information – The winning bidder will be automatically charged the minimum amount specified in the "FEES" section using the provided payment details. The listing agent will immediately collect any additional fees. Charges apply exclusively to the winning bidder.
2. Your bid authorises the auctioneer to sign the reservation agreement on your behalf.
3. Finalise Your Bid Submission

Please proceed with confirming the terms and submitting your bid. We advocate for conscientious bidding practices. It's important to note that winning bidders enter a binding contract, committing them to complete the purchase at the bid price. Therefore, we advise ensuring financial arrangements are secured prior to bidding. Bid within your budget to avoid any potential financial strain.