The Hanover Process
How Does it all work?

The Process

Buying With Hanover

The modern method of auction is now the preferred route for those looking to purchase property with the benefit of speed and security. This means no gazumping.

Additional Benefits Include:

  • Swift Completion Timescale
  • You don’t have to be a cash-ready investor – mortgage financing can be considered.
  • Bid Online, 24/7
  • Our unique online platform allows you to bid on a property of interest remotely – no stuffy auction room required!
  • Buyer’s Information Pack - We provide you with a Buyer’s Information Pack which allows you to make an informed decision. The pack contains a number of documents to help you do your research before proceeding.

How To Buy

  1. Attend a viewing of the property
  2. Fully review the documents contained within the buyer’s information pack
  3. Seek clarification on any unclear aspect of the property or process
  4. Carry out your own investigations, searches or surveys
  5. Seek independent legal guidance
  6. If buying with a mortgage, check that the property will meet your lender’s criteria. We also recommend you instruct your mortgage lender to complete a survey
  7. Register with Hanover Auctions and await account verification
  8. Provide identification for anti-money laundering purposes
  9. Receive notification of account activation
  10. Place bid and receive a notification if out-bid
  11. If successful following the auction deadline, provide proof of funding
  12. Solicitors instructed
  13. Standard timescale of 28 days between draft contracts being received and exchange
  14. A further 28 days between exchange and completion

Selling With Hanover

The modern method of auction could be the perfect opportunity for you to sell your property swiftly and securely, with minimum hassle.

The Benefits Are

Free 360 Virtual Tours

Free 360 virtual tours where appropriate, as well as professional photography and floorplans.

0% Commission To Sell

The buyer pays a reservation fee. They also sign a reservation agreement, securing the property for them and committing them to the purchase with an anticipated 56-day completion timescale, subject to terms. There is, however an auction pack fee payable to a solicitor.

Transaction Security

As the buyer pays a reservation fee and signs a reservation agreement, to date we have achieved a 96% success rate of our transactions going on to completion.

Reserve Price

Each property has a hidden reserve price which is set by you to ensure that you always achieve a purchase price that you are happy with.

Achieve Fair Market Value

Due to increased activity, a competitive bidding war may ensure, naturally driving up the selling price and thus achieving the best possible price for you.

Interested in auction property?

Browse and start bidding today