Faster
While Private Treaty can take over 100 days* to complete, the Modern Method of Auction ensures a completion timeframe of 56 days* from the receipt of draft contracts.
Secured
Once a sale is agreed and the reservation paid the property is reserved just for you. This provides comfort that no other potential buyers will have a high offer accepted during the legal process.
For Everyone
Modern auction is not just available to cash buyers unlike traditional auction, so you can purchase with a mortgage or bridging loan. This means its accessible for all buyers including first time buyers and investors.
Easier
Using our online bidding platform you are able to place bids 24/7 and help is provided by one of our trusted experts.
Fees Explained
Non-Refundable Reservation Fee
For most of our auction properties, buyers are required to pay a non-refundable Reservation Fee. This fee reserves the property exclusively for the buyer during the reservation period and is used to cover the auction costs for the seller, including payment to the Listing Agent and Auctioneer who collaborate to run the auction.
The fee is calculated as a percentage of the purchase price, with a minimum amount specified on the property’s profile page, and is paid in addition to the purchase price. It is also included in the buyer’s Stamp Duty liability.
Reservation Fee – Percentage
The percentage payable will vary by property, so be sure to review the Fees & Charges section in the Buyer Information Pack, which can be found on the property’s profile page.
If a Reservation Fee isn’t applicable, the buyer will need to pay a non-refundable Reservation Deposit instead.
Buyers Information Pack
What’s included – These packs typically include the Local Authority Searches, Water and Drainage Search, Property Information Form, Fixtures and Contents Form, Title Documents and more.
We do recommend carrying out additional checks if required and completing your own investigations and seeking independent legal advice. Please do discuss any queries you have with our auction experts.
Buyers Information Pack Fee
The Modern Move information pack comes with a fee payable of £299 inclusive of VAT and is in addition to the Reservation Fee. This must be included in your total spend. Please reach out to the team if you have any questions!