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The property is available for sale on a set day for all interested parties so everyone can have an equal chance of buying.
Unlike the tender process where other bids are not declared until after the event and it is possible to lose out by as little as £1
There is no risk of being gazumped because the property is sold on the fall of the gavel and the contract is binding.
Because all the legal work should be completed prior to the sale you can enjoy a speedy purchase and completion.
There is no danger of the vendor 'pulling out' as the contract of sale is binding as soon as the gavel falls.
Auctions often offer a wider range of properties and can include repossessions or properties in need of renovation or modernisation also development land, building plots and farms.