Leading Merseyside auction house, Sutton Kersh have put together a 10-step guide for first time auction goers:

1. Explore your options
Obtain a catalogue of possible lots to bid for and choose what you like.

2. See the property for yourself
By seeing the lot with your own eyes, you really understand what you might potentially get at the end.

3. Get the legal advice
It is highly suggested for everyone, especially the first-time buyers to get the legal or professional advice from a solicitor or a chartered surveyor if needed.

4. Arrange a survey
Taking a precaution by doing a survey on the property or properties you have chosen ensures your safety in the future.

5. Take care of your finances
Buyers are asked to pay a 10% deposit after the bid is done and cover the rest within the next 28 days. Also, you need to receive an offer from your lender in principle before the auction day if you are planning to obtain a mortgage. There so, you must review your finances prior to the auction.

6. Get familiar with the legal documents
This part is necessary for everyone to do. Legal packs that need the viewing contain special conditions of sale, office copy entries, searches and replies to pre-contract enquiries.

7. Register for the auction
There are two ways for you to do it, either in the foyer before the auction or completing a registration form available on the website or hard copies.

8. Make your bids
Not everybody is aware that bids can be made before and after the auction as well, yet the real-time bidding remains the most popular one. The hand rising, head nodding, smirking, shouting your price – all the ways are acceptable and exciting. Still, don’t get too caught in it, though, set up your limit price and don’t go beyond it or you might find yourself regretting your decision in the end. Also, note that, in case you cannot participate yourself, telephone and proxy biding facilities are available.

9. Take the after actions
As said before, immediately after you make your bid, you are asked to pay the deposit to validate your purchase. Cheque, bankers draft or credit/debit cards are all acceptable, only cash is not.

10. Last and most importantly - enjoy your win!