Modern Method of Auction

Modern Method of Auction (MMoA)

This combines elements of Private Treaty and auction. It provides the speed, transparency and security of a Traditional auction but exchange and completion take place within 56 days of the auction ending. This extended timescale allows more interest as it enables mortgage and first-time buyers to participate. You may have also heard this method referred to as “Conditional” method of auction.

MMoA at a glance

This method offers quick, but more flexible timescales of 56 days to complete. The more flexible timescales allow interest from first-time and mortgage buyers as well as investors. You have security as the buyer commits to purchase through paying a non-refundable Reservation Fee and signing a Reservation Agreement. Please download our Sellers Guide to find out more.

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Benefits of Modern Method of Auction

Complete faster than private treaty

Realistic fixed-timescales see buyers exchange and complete on your property within 56 days

Optimised exposure

An attractive starting bid increases interest and encourages competitive bidding between prospective buyers, which can help to drive up the final selling price of your property.

0% commission

As a vendor, you’ll pay no estate agency fees and keep the full selling price.*

Additional security

Sales are secured with a buyer paid Reservation Fee and signed Reservation Agreement meaning all parties can move forward with the sale in confidence.

A Reservation Agreement is also signed by the buyer, committing them to complete the purchase. This means the risk of fall-through with auction is less than 5%, unlike Private Treaty which has an average fall-through rate of 30%.

*Where the buyer pays the Reservation Fee, the buyer may consider the Reservation Fee as part of the total purchase price. The vendor is also liable to pay for the cost of Auction pack, but only on the successful sale of their property.