https://lotwick.com/learn/videos/how-do-property-auctions-work-in-the-uk-before-you-bid-3fzdesoqmd0https://i.ytimg.com/vi/3fzDesoQmd0/hqdefault.jpgHow do property auctions work in the UK? (Before You Bid)How do property auctions work in the UK? At auction, you do your checks first, because at a traditional auction you're legally committed the moment the hammer falls. This 7-minute guide walks through the five steps: find a lot, check it, set your budget, bid and complete. Then it shows how to check a real lot on Lotwick. It covers guide price vs reserve price, traditional vs conditional (modern method) auctions, what's in the legal pack and what your solicitor looks for, the real cost to win (buyer's fees, admin fees, legal costs, searches and stamp duty), mortgages, bridging loans and the 28-day deadline, and what happens when the hammer falls. This video covers England and Wales. It's general information, not legal or financial advice.https://www.youtube.com/embed/3fzDesoQmd04322026-11-08