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Auction at a glance
The Modern Method of Auction (also known as a ‘Conditional Auction’) is a flexible and secure method of sale that gives buyers more time to get everything ready, with contracts typically exchanged and completed within 56 days* of the draft contract being received.
It’s a flexible approach that opens auction up to more people, including mortgage buyers, thanks to the longer timescales and a Reservation Fee that secures the sale. That means less pressure, more time to prepare, and a smoother move all around.
Auction timeline
Here’s a more detailed overview of the key milestones within the Auction process: