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How online auctions work

The REDC online bidding process is EASY! Anyone can do it.

  • Register with our website www.zoopla.co.uk/auction
  • Find the home(s) you’re interested in.
  • Register for the auction event in which the property is listed.
  • Review all property information and inspect the properties. All homes can be viewed by appointment – simply call the estate agent listed.
  • Place your bid!
  • There are multiple bidding strategies. Either bid the maximum amount you’re willing to pay for the auction property or monitor the auction very closely and bid in increments competitively as the auction progresses!
  • Remember, a Buyer’s Premium equal to2% of the Winning Bid amount plus VAT will be added to establish the Total Purchase Price.
    • Example: Your Winning Bid = £100,000. A Buyer’s Premium of £2,000 (2% of £100,000) and VAT of £350 is added to make the Total Purchase Price = £102,350.
  • If you are the winning bidder, you will receive a Winning Bidder Confirmation via email. If required, a customer service representative will assist with the documentation process and explain the specifics of the sale.
  • Be prepared to complete the contract and transfer the balance of your 10% deposit within 48 hours of the auction close.

Good luck and happy bidding!

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About REDC
REDC is the largest auctioneer of residential property in the world. Since May of 2007, we have sold more than 50,000 properties worth over £4 billion. Our goal is to create an efficient and transparent marketplace where users can transact online.