An auction bid should follow the investigation, not begin it. Establish which auction method and conditions apply to the particular lot before registering or committing money.
Read the lot information
RICS advises buyers to obtain the legal pack and seek legal advice before bidding. Check the auctioneer's updates as well as the original particulars. Ask your solicitor to explain the commitments, completion terms and anything in the documents that changes the apparent offer.
Investigate the property
Arrange an appropriate viewing and professional assessment. List what is known about condition, occupation and the proposed use, and keep unanswered questions visible. Do not treat an attractive guide price as evidence that those issues have been resolved.
Prepare a complete funding plan
Identify the bid amount and all other sums you may need to pay, with their due dates. Confirm funding and insurance arrangements with the relevant professionals. A general mortgage discussion is not proof that funds will be available within this lot's timetable.
Set a firm decision rule
Write down your maximum commitment and the unresolved issues that would stop you bidding. Have a way to check last-minute changes before acting. Traditional and conditional auctions can create different commitments; do not assume that every sale has the same deposit, fees or completion period. If the terms are unclear, obtain advice before bidding rather than expecting to resolve the uncertainty afterwards.
Editorial review: 14 October 2026. This original Property Perpetuity guide replaces the imported text; the original archive publication date is retained.