The Modern Method of Auction with JP & Brimelow Estate Agents..
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.
