Property auctions explained
Auction offers faster and more secure sales, giving you more confidence when buying or selling.
The benefits of auction
Speed
Complete in just 56 days** with the Modern Method of Auction (MMoA)
Security
All parties are committed to the sale, with a 95% completion success rate
Transparency
All offers are visible, making the whole process fair and transparent from start to finish
No time to waste
See how auction’s quicker timescales speed up your sale and give you more security than traditional routes.
The Modern Method of Auction (MMoA)
MMoA (or 'Conditional Auction') completes within a 56-day** timescale from receipt of draft contracts, with the buyer paying a non-refundable Reservation Fee. It’s flexible, giving both mortgage and cash buyers extra time to arrange finance.
Traditional Auction
Traditional (or 'Unconditional') Auction requires immediate exchange of contracts and payment of a 10% deposit plus a Reservation Fee, with completion typically in 28-days. While faster, it’s usually suited only to cash buyers and investors due to the upfront financial commitment.
Understanding the auction process
If you’re looking to buy or sell through auction, see how the process works and what you can expect at every step:
Sale instruction
Preparing sellers
Buyer Information Pack is generated
Auction goes live
Property sold subject to contracts
Exchange
Transaction completion
