This more accessible route, creates a transparent platform for buyers and sellers combining the best aspects of traditional auction and private treaty sales. We offer more realistic yet fixed timescales, opening up the market place for buyers and sellers looking to arrange mortgages as their method of payment. The transaction has 56 days in which to complete with parties aiming to exchange contracts within 28 days of the Draft Contract being received by the buyers solicitors. Whereas with traditional auctions, the exchange of contracts will usually take place as soon as the buyer has won the bid.
The Modern Method of Auction opens the auction market (once reserved for the professional investor or cash-ready buyer) up to residential buyers, creating a larger market place and more interest and activity than traditional auction. It is the preferred route for buying and selling via auction and has changed the perception of auction in the last decade.