Trinity Property
Auctions
Explained By Under The Hammer
What is an auction?
A property auction is a way of buying and selling real estate through competitive bidding. Instead of private negotiations, the sale happens publicly (in a room, online, or hybrid), and the property is sold to the highest bidder once the reserve price is met.
Key Players
– Seller: The person or organisation selling the property.
– Auctioneer: The company running the auction.
– Buyer / Bidders: Those competing to buy the property.
