Selling
The Modern Method of Auction,
done differently
Faster than private treaty. More accessible than a traditional auction. The speed and transparency of auction, with a timeline a mortgage buyer can actually meet.
The basics
What the Modern Method of Auction actually is
Also known as a Conditional Auction. It takes the transparency and security of an auction and puts it on a timeline that works for ordinary buyers as well as investors.
Transparent bidding
Every party sees competing offers in real time. No negotiating in the dark — an open process that builds trust and can carry the price further than a private negotiation would.
A 56-day completion window
Traditional auction gives a buyer 28 days. Fifty-six is long enough to arrange a mortgage, which is what opens the sale up to buyers who are not cash.
A reservation agreement
The winning bidder pays a non-refundable reservation fee. It secures the property and it demonstrates real commitment, which is what takes most of the fall-through risk out.
Faster than private treaty
An ordinary sale often runs past a hundred days with no guaranteed timeline. This one is time-bound, so everybody knows where they stand.
Who it suits
- Sellers who want a faster, more secure sale
- Buyers who need mortgage finance
- Sellers with vacant or investment property
- Anyone who wants price transparency
- Landlords leaving the market
- Executors, and sales following probate
Method comparison
MMoA, traditional auction and private treaty
Not sure which route is right? This is how the three compare side by side.
| Feature | Modern Method | Traditional auction | Private treaty |
|---|---|---|---|
| Completion timescale | 56 days, structured and predictable | 28 days from auction end | 100+ days, no fixed timeline |
| Buyer types | Mortgage and cash buyers | Typically cash and investors | All buyer types |
| Bidding process | Transparent online bidding | In-room or online auction | Private negotiation |
| Fall-through risk | Low — the reservation fee secures commitment | Very low — exchange on the day | High — no financial commitment |
| Gazumping and gazundering | Reduced — the reservation period protects both sides | Not applicable after exchange | A common risk |
| Exchange of contracts | Within the 56-day window | Immediately at auction end | Variable — no fixed point |
In the ring
One lot in the modern method auction
1 properties
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Would a traditional auction suit you better?
Seel Auctions is part of the Jeffrey Ross group and runs a well-established traditional auction. If that route fits the property better, we will say so.
Asked and answered
Common questions
What is the Modern Method of Auction?
Also called a Conditional Auction. Bidding is open and online, the winning bidder pays a non-refundable reservation fee, and completion follows within 56 days — long enough for a mortgage buyer to take part.
How long does it take?
Fifty-six days from the end of bidding, against 28 days for a traditional auction and commonly more than a hundred for an ordinary private treaty sale.
Can I buy with a mortgage?
Yes. That is the main difference from traditional auction, where the 28-day deadline usually restricts it to cash buyers and investors.