The auctioneer's gavel drops and you're legally committed — no cooling-off period, no renegotiating, no backing out. In this episode, we explain how property auctions actually work, from traditional room auctions to modern method online sales, what the reserve price really means versus the guide price, how to read a legal pack before you bid, and why failing to complete within 28 days could cost you your entire deposit. If you've ever considered buying at auction, listen to this first.