The Modern Method of Auction is a flexible way of buying and selling property that combines the transparency of an auction with the security of a traditional sale.

Unlike a traditional auction, buyers don’t have to exchange contracts immediately. Instead, once a property is successfully bid on, the buyer pays a reservation fee to secure the property and then has an agreed period (usually 56 days) to exchange contracts and complete.

Meet Carlos our Auction Specialist..

How it works

• The property is marketed online with a guide price
• Interested buyers place bids over a set marketing period
• Once the auction ends, the successful bidder pays a reservation fee
• The buyer then has time to arrange surveys, mortgages, and legal work
• Contracts are exchanged within the agreed timeframe

Benefits for sellers

• Committed buyers – reservation fees reduce the risk of fall-throughs
• Greater certainty – clear timescales for exchange and completion
• Wider buyer reach – properties are promoted nationally online
• Competitive bidding – can help achieve strong prices
• Suitable for all properties, including those needing work or with non-standard features

Benefits for buyers

• More time to organise finance compared to traditional auctions
• Greater transparency from the outset
• Reduced risk of gazumping once the reservation fee is paid

Is it right for you?

The Modern Method of Auction works particularly well for:

• Investment properties
• Probate sales
• Chain-free homes
• Properties requiring renovation
• Sellers looking for speed and certainty

At JP & Brimelow Estate Agents, we’ll advise you honestly on whether the Modern Method of Auction is the right route for your property, or whether a traditional private treaty sale would better suit your circumstances.

If you’d like to discuss your options, speak to our sales team today on 0161 882 2233.

Eddie – Friday 6th February 2026.