How BidOnIt works
Buying a house in the UK involves being told things you cannot check by people paid by the other side. This is an attempt at the opposite: one public book, one locked price, and money behind the promise.
For buyers
Find it, listed or not
Every property we know about is on the exchange, whether or not it is for sale. Where an occupier has joined us, your bid reaches them directly. Where they have not, we hold your bid and pass it on if they ever do, and tell you if they do not, rather than leaving you wondering.
Verify a card, then bid free
No charge for bidding, and no limit on how many properties you bid on. The card is there so a seller can tell the difference between a real bid and an idle one, and so there is something behind your word if you agree a price.
Bid on as many as you like, without being bound by all of them
Bid on ten properties if ten of them interest you. The moment one is accepted, the rest are paused automatically: nobody can accept a paused bid, so you are never committed to two purchases at once. They come back on their own if that sale falls through. If you genuinely are buying more than one, say so in your account and every bid stays standing.
See exactly where you stand
Every bid on every property is public: the amount, when it landed, and whether the bidder is cash. Names are not. You will never again be told there is a higher offer you cannot verify, because you can look.
For sellers
List in a few minutes, for nothing
No commission, no sole agency agreement, no six-week tie-in. You need geolocated photographs, which we check against the property, and a verified card.
Watch the book build
Bids arrive in public and in order. You see who is cash, who is chain free, and what the market actually thinks your house is worth rather than what one agent guessed.
Take the one you want
Not necessarily the highest. A cash buyer at slightly less is often the better deal, and now you can see the difference rather than being told about it.
Deposits, and why they exist
Roughly a third of agreed sales in England and Wales fall through, and the person who walks away pays nothing for it. Gazumping works for the same reason: an agreed price is not a promise, it is a hope.
What actually happens
- A bid is accepted
The price is locked at that figure. Every other standing bid is declined automatically. Neither party can move off the number.
- Both sides authorise a deposit
0.5% of the agreed price, floored at £500 and capped at £5,000. It is an authorisation on your card, not a payment. The money never leaves your account.
- You are introduced
Only once both holds are in place. You get each other's names and numbers, and you deal with each other directly from there.
- Contracts exchange
Both of you confirm here with the price on the contract. When the two figures match, both holds are released in full. Nothing is netted off. The £299 fee is then charged to the seller separately.
- Or someone walks away
Their deposit is forfeited to the other party, and the property goes back on the exchange immediately. Walking away is allowed. It just is not free.
A deposit is not a survey result and not a mortgage offer. If your survey comes back badly or your lender pulls out, you can still walk. This changes what that costs, not whether you may.
Fees
Listing a property | Free |
Placing a bid | Free |
Raising or withdrawing a bid | Free |
Bidding on several properties at once When one is accepted the rest pause, so you are never on the hook for two. | Free |
Accepting a bid | Free |
Deposit held on agreement An authorisation, not a payment. Released in full on exchange. | 0.5%, £500 to £5,000 |
On successful exchange Charged to the seller as its own transaction, never deducted from a deposit. The only fee we charge. | £299 |
For comparison, a high street agent on 1.2% of a £700,000 sale takes £8,400 plus VAT for introducing two people to each other.