Introduction to Daylia-Maria Jonson & Residential Conveyancing

When it comes to buying or selling a property, one of the biggest decisions clients face is choosing between an auction sale and a private sale. Each method carries its own pace, risks, and advantages, and the right choice often depends on the individual’s goals, circumstances, and timeline. Daylia-Maria Jonson shares some of the important differences, advantages, and how a conveyancer can help, to ensure that you make the right decision.

Daylia-Maria Jonson is a Consultant at Woodstock Legal Services, with over 27 years of experience in conveyancing. Her career has spanned multiple roles, including Legal Secretary, Post Completion Executive, Paralegal, and now Residential Conveyancer.

She has built her career on a genuine passion for property law, particularly valuing the fact that no two transactions are ever the same. This ensures that each day brings variety, new challenges, and opportunities to support clients through one of the most significant decisions they will make.

What Is an Auction Sale in Property Transactions?

An auction sale is a public event where buyers compete by placing bids, often familiar to viewers of programmes such as Homes Under the Hammer. The property is sold to the highest bidder, with the agreement becoming legally binding immediately when the hammer falls.

Features of Auction Property Sales

• A fixed date and time for the sale
• A competitive bidding environment
• Immediate exchange of contracts once the hammer falls
• No cooling-off period
• A deposit (usually 10%) is paid immediately

Exchange of Contracts means that both parties are legally bound and committed to the transaction. Withdrawing after this stage can result in significant financial consequences for the party in breach.

Advantages & Risks of Buying or Selling at Auction

One of the main advantages of an auction sale is the urgency and competition it creates, which can drive the final sale price higher depending on market conditions. Sellers benefit from a clear and fixed timeline.

However, for buyers, the auction environment can be intense and high-risk. There is pressure to make quick decisions, making it essential that thorough due diligence is carried out in advance. Sellers also face uncertainty, as weak bidding may result in the property not achieving the desired price.

What Is a Private Property Sale?

Features of Private Sales

• Flexible pricing
• A negotiation-based process
• A variable timeline depending on market interest 

Advantages of Private Sales for Buyers and Sellers

Private sales offer greater control and flexibility. Buyers have more time to consider their decision, negotiate terms, and carry out inspections.

Sellers can assess multiple offers and choose the one that best suits their needs in terms of price and timing.

Auction vs Private Sale: Important Legal Differences

Legal Commitment

• Auction Sales: Legally binding the moment the hammer falls; contracts are exchanged instantly; deposit paid immediately

• Private Sales: Not legally binding until exchange of contracts; offers can be withdrawn or renegotiated; greater flexibility if issues arise 

Speed of the Transaction

• Auction Sales: Completion typically within 20–28 days; fixed deadlines with limited flexibility; requires finances and legal preparation in advance

• Private Sales: Average timeline of 8–12 weeks or longer; dependent on property chains, searches, and mortgage approvals; more time to resolve issues 

It is particularly important in auction purchases that buyers have their finances fully arranged before bidding.

Risks to Consider in Auction & Private Property Sales

With auction sales, it is essential to review the legal pack before bidding. Auctioneers provide documentation, including searches, in advance of the auction date. Instructing a conveyancer to review this pack is crucial, as there may be hidden legal issues or the property could be unmortgageable.

In contrast, private sales carry the risk of a property chain collapsing. This can occur after buyers have already incurred costs for searches and surveys. Issues such as gazumping or gazundering may also arise, leading to delays, stress, and renegotiation.

Without the urgency of an auction, buyers may delay decisions, and sellers may receive lower offers or face prolonged negotiations.

The Role of a Conveyancer in Property Transactions

In Auction Sales

• Reviewing legal packs before the auction
• Identifying risks and potentially problematic clauses
• Providing advice quickly, often under time pressure

In Private Sales

• Managing the full legal process from start to finish
• Conducting searches and raising enquiries
• Guiding clients step-by-step through the transaction 

Which Property Sale Method Is Right for You?

Auction sales may be more suitable for experienced buyers, investors, or those who are comfortable with risk and able to act quickly with finances already in place.

Private sales may be better suited to first-time buyers, those requiring mortgage flexibility, or anyone seeking more time, reassurance, and control throughout the process.

Final Thoughts: Making the Right Property Decision

There is no one-size-fits-all answer when choosing between an auction sale and a private sale. Auction sales rely on urgency and competition, while private sales depend on patience and negotiation.

Understanding the legal and practical differences between the two can help buyers and sellers make more informed decisions.

• Both routes can be effective, but the legal differences are significant
• The greatest risk often comes from misunderstanding when a transaction becomes legally binding
• Early legal advice can help prevent costly mistakes

For expert guidance on residential conveyancing, auction purchases, or private property sales, clients are encouraged to contact Daylia-Maria Jonson at Woodstock Legal Services via d.jonson@woodstocklegalservices.co.uk or by completing the form below.