They risk losing their deposit and may face other penalties.

Once the gavel falls, the sale is usually binding, and changes of mind can have consequences.

They may be re-offered at a later auction or be sold privately.

The guide price is an indication of the seller's minimum expectation and can be adjusted.

The reserve price is the lowest price the seller is willing to accept.

For leasehold properties, a management pack provides information about the property's management.