The auction-day checklist

The hammer exchanges contracts on the spot: your 10% deposit is committed and the completion clock starts (28 days remains the standard term as of July 2026, with some modern-method auctions running 56). Every item in the first list belongs BEFORE the auction; the second list is for the day itself.

Before you bid

• Legal pack reviewed by a solicitor — title, tenancies, planning history and above all the special conditions, where extra fees and traps live
• Viewing done and works costed — real numbers from someone who has priced projects, not an estimate from the doorway
• Sold comparables pulled — the evidence for your end value, not asking prices
• Finance terms in principle against the lot — including the lender's likely view of value — the valuer's number governs the loan, not your winning bid
• Valuation route agreed — AVM-eligible lots can complete substantially faster
• Solicitor instructed for the purchase — the same one who read the pack
• Buildings insurance ready to go on risk — risk usually passes to you at the hammer, not at completion
• Deposit funds cleared and evidenced — 10% plus auction fees, in an account that can pay today
• Maximum bid written down — set by the financeable arithmetic, decided outside the room
• Auctioneer registration completed — with whatever ID and proof of funds they require

On the day

• ID for bidding registration
• Payment method the auctioneer accepts — for the deposit and any buyer's premium
• Special-condition fees budgeted — seller's costs, administration charges — you read these in the pack
• Contract details photographed — and sent to your solicitor before you leave the room
• Insurance activated — same day
• Bridging application submitted — within 24 hours; the 28 days are already running