There are generally two types of property auction sales, the detail of which will be outlined in both the catalogue on the day and the legal pack related to the specific property. In an unconditional sale, the successful bidder must pay a 10 percent deposit immediately and complete the sale within 28 days.
In a conditional sale, the completion timescale is longer. The successful bidder has 20 working days in which to secure finance, then a further 20 working days to complete the sale.