When you have chosen the house you wish to buy, pay a 5% booking deposit to the Auctioneer and ask him/her to issue contracts to your nominated Solicitor. At that stage the Auctioneer should issue letters of confirmation regarding the transaction to you, the vendor, the vendor's Solicitor and your Solicitor.

Remember even though you have paid a booking deposit the transaction is not confirmed until such time as contracts are signed and either party can withdraw from the transaction up to that stage, as sales are normally agreed "subject to contract/contract denied".

It is therefore important if you wish to secure the house to move the loan and legal requirements quickly.