In theory it is a binding deal. In practice it seems almost impossible to enforce. Feel sorry for Geoff Prince, do not know him, I think. Mentally he was owning a car, only to have it snatched away.
Cannot beat going to the cars to view/buy before the end of auction. If your not able to from the other end, or the vibes put you off going, then pass. I was invited to a layby for a Schmitt purchase and some old greenhouses to buy a BX GTI. Yeah, like I am turning up with folding to such places on my own. From that down to that 6th sense, pass.