How Howsold actually works

From first conversation to keys handed over. Here's what actually happens.

By Josh Owens, Co-Founder of Howsold

UK Modern Method of Auction specialist · Liverpool

An operational walkthrough of the Howsold process. Day numbers, what you sign and when, who you'll talk to, what we ask from you, and what happens if things go off-script. Eight weeks, approximately. Zero seller fees. One named contact throughout.

AI estimate in 60 seconds. No callback queue. No follow-up unless you want one.

56-day target completion £0 Howsold seller fees Mortgage buyers welcome Significantly fewer fall-throughs

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Understanding your options

Three ways to sell. Three different outcomes.

The property market has been stuck in the past for too long. Here's how the options compare.

Traditional Private Sale

The "usual" way — estate agent, blind offers, long wait

Familiar process

Wide buyer reach

No buyer commitment until very late

8–16 weeks average timescale

High fall-through risk

Estate agent fees eat into proceeds

Stressful, unpredictable, lots of chasing

Traditional Auction

Fast and binding — but only works for cash buyers

Fast and legally binding

Transparent bidding

28-day completion — too fast for mortgages

Cash or pre-approved finance only

Smaller buyer pool — mostly investors

Auction house fees apply

Option 3

Modern Method of Auction

56-day target — time for mortgages

Buyer pays reservation fee on day one

Significantly fewer fall-throughs

Full mortgage buyer access

Transparent competitive bidding

£0 Howsold seller fees

Named person, direct line, no call centres

The journey, day by day

A typical Howsold sale — chronologically.

Approximate timeline from first conversation to keys handed over. Days are indicative — your specific timeline depends on how quickly your conveyancer compiles the legal pack, how the auction window aligns with your readiness to list, and the post-reservation period.

Day 1 — First conversation

AI estimate, or a phone call

Most sellers start with the AI estimate tool — 60 seconds, your postcode, indicative figure based on live sold-price data. Others prefer a direct phone call. Either way, we confirm whether MMA suits your property, talk through the process, and answer your questions. No obligation. No callback queue. No follow-up unless you ask for one.

Days 2–5 — Reserve agreed and instruction signed

Your minimum sale price, in writing

We discuss a realistic reserve based on comparable sold prices, condition, and prevailing market demand. The reserve is your floor — your property won't sell below it without your written consent. You sign the Howsold instruction agreement; the agreement is in plain English and you'll see every clause before signing. Independent legal advice is always recommended before any property contract.

Listing prep — pace set by you

Photography, copy, conveyancer's pack

Listing prep moves as quickly as you return the property information forms — often same-day if we already have photos, otherwise typically a few days. We take the property photos in-house — no separate photography fee passed on to you (unlike some agents who charge for this). Your conveyancer compiles the auction legal pack in parallel — title documents, searches, lease information if leasehold, replies to standard enquiries. The legal pack typically costs £300–£450 and is paid directly to your conveyancer. Once everything is ready, your property goes live on Rightmove, Zoopla, our auction platform, and into our investor network.

Marketing window — until the next auction

Viewings, enquiries, and bids before the auction window

Howsold runs a monthly auction — usually on the last Thursday of the next month. Your property is marketed from listing-live until auction day, typically 2–6 weeks depending on where in the monthly cycle you list. We can bring the auction date forward or push it back if your circumstances require flexibility. Viewings start, enquiries come in, and we accept pre-auction offers throughout. Most Howsold sales actually complete pre-auction — interested buyers often submit a strong offer to secure the property before bidding opens. You see every offer and approve or decline. We never accept on your behalf.

Auction window — Bidding opens

Online bidding over a fixed timeframe

If the property hasn't sold pre-auction, the auction window opens at the scheduled date. Registered buyers bid online over a fixed timeframe. Bids are visible in real-time. You see all activity. The auction closes at the published time — and if your reserve is met or exceeded, the highest bidder secures the property.

Reservation — The buyer commits

Reservation fee paid · auction terms signed

The winning buyer signs auction terms and pays the non-refundable reservation fee directly to Howsold. This is how Howsold is compensated — and the reason seller fees are £0. The buyer is now financially committed to completing within 56 days. You receive written confirmation. The 56-day completion clock starts from this point.

Days 1–28 post-reservation — Exchange period

Solicitor coordination · mortgage finalisation · surveys

Buyer's solicitor and yours work through final searches, mortgage offer (if applicable), and exchange of contracts. Howsold remains as a sales progression team throughout — chasing both sides to keep momentum and hit the 56-day target. Most exchanges happen between days 14 and 28 of the post-reservation window.

Day 56 (target) — Completion

Funds transferred · keys handed over · Howsold fees: £0

Funds transfer from the buyer's solicitor to yours, then to your account. Keys handed over. You're done. Howsold seller fees: £0. No commission deducted, no listing fee owed, no admin charges to settle.

Post-completion — Howsold check-in

A quick call to confirm everything completed cleanly

A brief follow-up to confirm funds received, that everything has completed cleanly, and to offer support on anything outstanding (change of address admin, onward purchase coordination if applicable). We genuinely want to know how it went — feedback shapes how we run the next sale.

Day numbers are indicative averages. Specific timelines vary based on conveyancer speed, post-reservation chain alignment, and any property-specific factors raised in the legal pack. Individual results vary. Not legal or financial advice.

Contractual transparency

What you actually sign — and when.

Three documents over the course of a Howsold sale. None of them surprises you, all of them disclosed in plain English before signature. Independent legal advice is always recommended before signing any property contract.

Document 1 · Day 3–5

The Howsold instruction agreement

The agreement that authorises Howsold to market your property and run the auction. Confirms the reserve price, the marketing approach, the auction window, and that Howsold charges you £0 commission. Plain English, no hidden clauses. You see every page before signing. The agreement can be terminated by you at any point before bidding opens, without penalty.

Document 2 · After winning bid

The auction sale memorandum (and the buyer's terms)

When a buyer wins the auction (or has a pre-auction offer accepted), the sale memorandum is signed by both parties. This document records the agreed price, the reservation fee, and the 56-day completion target. The buyer's auction terms — which set out the reservation fee structure and their obligations — are part of the legal pack the buyer has already read and agreed to before bidding.

Document 3 · At exchange

The conveyancing contracts of sale

The standard conveyancing exchange of contracts — handled by your conveyancer and the buyer's, as with any UK property sale. This is the legally binding sale contract. Howsold doesn't draft or hold this — it's solicitor-to-solicitor. Most exchanges happen 2–4 weeks after reservation.

This page describes the typical Howsold sale documentation flow and is not legal advice. Specific contract terms may vary based on property type, jurisdiction within the UK, and individual circumstance. Always read every document before signing and seek independent legal advice from a qualified solicitor on the specific terms applicable to your sale.

Your side of the process

What we ask from you.

A Howsold sale is collaborative — there's no version where we do everything and you do nothing. Here's exactly what your contribution looks like, with realistic time commitments.

Honest answers about the property — about 30 minutes

Condition issues, recent work done, lease terms (if leasehold), any disputes or boundary issues, tenant situation (if rented). Buyers will see the legal pack — there's nothing to gain from withholding. The clearer your information at instruction, the smoother the post-reservation period.

Access for property photography — about 1 hour

We take the photos ourselves — no third-party photographer, no separate photography fee passed on to you (unlike some agents who charge £200+ for this). You provide access at a convenient time. A light tidy-up beforehand helps, but we work with what's in front of us — no staging required. We'll flag anything specific that would help (clear surfaces, opening curtains).

A conveyancer to handle the legal pack and exchange — fees apply

You'll need a conveyancing solicitor as you would with any UK property sale. They compile your auction legal pack (typically £300–£450) and handle exchange and completion. We can recommend conveyancers familiar with auction sales if you don't have one — or work with yours if you do.

Availability for viewings — flexible

Three scenarios: if you live there, we coordinate viewing windows with you. If the property is vacant, we can hold a key and run viewings without you needing to be present. If the property is tenanted, we liaise directly with the tenant to schedule viewings — you don't need to be the middleman. Most properties book 3–8 viewings during the active marketing window.

Decisions on offers — typically same-day responsiveness helps

Pre-auction offers come in throughout the marketing window. Quick responsiveness preserves momentum — buyers can lose interest if they sit waiting. We pass every offer to you immediately. You decide. There's no pressure to accept anything you're not comfortable with.

Who you'll talk to

A named person. A direct line. No call centre.

Howsold is a small specialist team — not a national chain or a portal-style aggregator. From first conversation through completion you have one named contact who knows your property, your situation, and what we've agreed. You can reach them directly by phone, WhatsApp, or email.

Founder · Lead account

Josh Owens

Built Howsold after a decade in UK property to fix the structural problems with traditional estate agency. UK Modern Method of Auction specialist. Direct involvement in every Howsold sale — initial conversations, reserve discussions, pre-auction offer reviews, and post-completion check-ins.

Supporting roles

Plus operations, listings, and post-reservation progression

Behind your named contact, we have specialists handling listing setup, the auction platform, property photography, and post-reservation progression (chasing both solicitors to hit the 56-day target). You may speak to them on specific operational matters, but your point of contact for strategic decisions stays consistent throughout.

How to reach us

Phone, WhatsApp, email — your choice

📞 Phone: 0151 203 8283
💬 WhatsApp: Message via WhatsApp
✉️ Email: [email protected]

Office hours: 9am–5pm Monday to Friday. Same-day response target on weekday enquiries. Weekend messages handled by Monday morning.

The auction window — operationally

What actually happens when bidding opens.

If your property doesn't sell pre-auction (most do), the auction window opens at the scheduled date. Here's what that looks like from your side.

Buyers register and review the legal pack in advance

Anyone who wants to bid must register and confirm they've read the auction terms and legal pack. They've also seen the reservation fee structure — so there's no surprise on the day. Registration is a filter: serious bidders only.

Bidding opens at the scheduled time

The auction window opens online at the published date and time. Registered buyers can bid from any device. Bids are visible to all bidders — and to you. You can watch the bidding live without needing to do anything.

The reserve price is the floor — bidding starts below or at it

Your reserve is the minimum you'll accept. Bidding may start below the reserve and work up. If the final highest bid is below your reserve, the property does not sell automatically — you can choose to accept the offer post-auction, negotiate, or relist.

Anti-sniping protection extends the window if needed

If a bid comes in during the final minutes, the auction window extends briefly to give other bidders a fair chance to respond. This prevents last-second snipe-bids from securing your property below where competitive bidding would have taken it.

Highest valid bid above reserve wins — and pays the reservation fee within 24 hours

Once the auction closes, the highest valid bid above your reserve is the winner. The buyer then has 24 hours to sign auction terms and pay the reservation fee. If for any reason they don't, we approach the next-highest bidder. The financial commitment is what makes Howsold sales rarely fall through.

Feature	Private Sale	Traditional Auction	Howsold MMA
Completion time	8–16 weeks	28 days	56-day target
Buyer commitment	None until exchange	Full 10% deposit	Reservation fee day one
Mortgage buyers	Yes	Rarely	Yes
Fall-through risk	High	Very low	Very low
Transparent bidding	No	Yes	Yes
Seller fees	Estate agent %	Auction house fees	£0 Howsold fees
Support	Agent dependent	Auction house only	Named person, direct line

If things don't go to plan

Common scenarios — and what we do about them.

Not every Howsold sale runs cleanly start to finish. Here's what happens in the edge cases — and what your options are.

Scenario 1

"No bidder reached my reserve — what now?"

Three options. (1) Accept the highest bid post-auction even though it's below your reserve — we'll consult with you on whether that's worth doing based on the gap and the bidder's strength. (2) Relist in the following month's auction at the same reserve, with strategic marketing adjustments. (3) Reduce the reserve and relist. You decide. Howsold charges you nothing for a relist if the property didn't sell.

Scenario 2

"Bidding went well past my reserve — what's the upper limit?"

There isn't one. Your reserve is a floor, not a ceiling. Bidding can — and often does — go significantly above reserve when there's competitive interest. The price the market sets is the price you get, capped only by what bidders are willing to pay. The buyer's mortgage valuation may need to support the final price for the sale to complete — your conveyancer manages this.

Scenario 3

"The winning buyer pulls out after reservation"

Rare, but it happens. The buyer loses their reservation fee — it's non-refundable. We then either approach the next-highest bidder from the auction (often successful within days), or relist your property at no additional cost to you. Howsold absorbs the relist cost. You don't pay us anything extra to recover the sale.

Scenario 4

"I want to change my mind before bidding opens"

You can. There's no withdrawal penalty for cancelling the listing before bidding opens. If you've already paid your conveyancer for the legal pack, that cost is yours — but Howsold itself charges no withdrawal fee, no listing fee, and no commission. Just let us know.

Scenario 5

"I'm sale-dependent on an onward purchase that might delay completion"

Talk to us before listing. The 56-day completion target works best when both sides are committed and the chain is aligned. If your onward purchase risks delay, we may recommend either listing with a longer target completion (negotiable) or waiting until your chain is more certain. We won't push you into a timeline that doesn't fit your circumstances.

The Howsold promise

Our model only works when yours does.

Howsold's compensation is structured so we only earn when a buyer commits to your property. Every cost is disclosed in writing before you sign. Every decision is yours.

✓

£0 seller fees — every sale, every price

No commission. No listing fee. No marketing fund. The buyer pays the reservation fee.

✓

Withdraw anytime before bidding opens — no penalty

Change of plans, change of mind, change of heart — you can stop the process at any point pre-auction.

✓

If a buyer pulls out — we relist free

In the rare case a buyer steps back after winning, we relist your property at no additional cost.

✓

Every cost disclosed in writing — before any signature

Yours, the buyer's, the solicitor's. Property Redress Scheme members.

If MMA isn't right for your property, we'll tell you on the first call — even if it costs us your business.

From the founder

Why we built it this way.

Most of us at Howsold spent years inside the traditional estate agency model. We saw the same pattern repeat on most sales: aggressive valuations to win the instruction, slow marketing once signed, price reductions blamed on "the market," and chains collapsing weeks before exchange. The seller absorbed every cost — the time, the lost equity, the stress — while the agent earned regardless of whether their original valuation had any defensible basis.

We started Howsold to flip the model. Charge the seller nothing. Let the market — not an agent's pitch — set the price. Make the buyer commit financially so chains don't collapse silently. Give the seller one named contact who actually answers the phone. Disclose every cost in writing before anything is signed.

None of this is novel. The Modern Method of Auction has existed for years. What we built was a version that takes the model seriously on the seller's side — actually delivering the £0 fees promise, the named-contact promise, the honest-estimate promise, sale after sale.

If our model is harder for us to scale than the commission model is for traditional agents, that's because we picked the harder business deliberately. Honest figures, aligned incentives, and disclosed costs are not the obvious path to volume — but they're the only path to building a business we'd actually want to use ourselves.

— Josh Owens, Co-Founder

Questions answered

Everything you need to know — operationally.

Still have questions? Call us on 0151 203 8283

Most Howsold sales complete within 8–12 weeks total. Listing goes live as soon as you've returned the property info (often same-day if we have photos). Marketing runs until our next monthly auction — usually the last Thursday of the following month, though we can flex the date if needed. Completion target is 56 days from reservation. Many Howsold sales complete pre-auction, which can shorten the total significantly.

Zero Howsold seller fees — on every sale, at every price. No listing fee, no commission, no marketing fund. The buyer pays the reservation fee. You cover your own conveyancing as standard with any UK property sale, plus an auction legal pack (typically £300–£450 paid to your conveyancer). No surprises.

You have one named contact from first conversation through completion — typically Josh Owens, our founder, or a senior team member he assigns based on your situation. You can reach them directly by phone, WhatsApp, or email. No call centres. Office hours are 9am–5pm Monday to Friday with same-day response target on weekday enquiries.

Three options. (1) Accept the highest bid post-auction even if below reserve, after we consult on whether that's worth doing. (2) Relist in the following month's auction at the same reserve. (3) Reduce the reserve and relist. You decide. Howsold charges nothing for a relist if the property didn't sell.

You can withdraw at any point before bidding opens, without penalty. If you've already paid your conveyancer for the legal pack, that cost is yours — but Howsold itself charges no withdrawal fee, no listing fee, and no commission. Just let us know.

Rare, but it happens. The buyer loses their non-refundable reservation fee. We then either approach the next-highest bidder from the auction (often successful within days), or relist at no additional cost to you. Howsold absorbs the relist cost — you pay nothing extra to recover the sale.

Three structural differences. (1) The market sets the price through competitive bidding — not an agent's instruction-winning valuation. (2) The buyer commits financially via a non-refundable reservation fee — they cannot casually walk. (3) Howsold charges seller fees of £0, where high-street agents typically charge 1.5% plus VAT or a £2,500 minimum plus VAT — which most individual sellers cannot reclaim.

Yes — tenanted property is one of the situations MMA suits particularly well. Our investor network includes buyers who specifically want income-producing assets with tenants in situ. Tenant rights and notice provisions (under the Renters Rights Act 2025) are handled by your conveyancer — we coordinate but cannot give legal advice on tenancy matters.

Yes. Howsold is a member of the Property Redress Scheme — an independent redress provider authorised by National Trading Standards. Howsold is a trading name of Latomus Capital Limited (Company No. 15497250), registered in England & Wales. Finance referrals are introduced via Melius (FCA-authorised); any referral fee is disclosed to you. Independent legal and financial advice is always recommended before signing any property contract.

Talk to us before listing. The 56-day completion target works best when both sides are committed and the chain is aligned. If your onward purchase risks delay, we may recommend listing with a longer target completion (negotiable) or waiting until your chain is more certain. We won't push you into a timeline that doesn't fit your circumstances.

From first conversation to keys handed over. Here's what actually happens.

Howsold — in a paragraph.

Three ways to sell. Three different outcomes.

Traditional Private Sale

Traditional Auction

Modern Method of Auction

A typical Howsold sale — chronologically.

What you actually sign — and when.

The Howsold instruction agreement

The auction sale memorandum (and the buyer's terms)

The conveyancing contracts of sale

What we ask from you.

A named person. A direct line. No call centre.

Josh Owens

Plus operations, listings, and post-reservation progression

Phone, WhatsApp, email — your choice

What actually happens when bidding opens.

Feature comparison

Now you've seen how it works — what's an honest indicative figure on yours?

Common scenarios — and what we do about them.

"No bidder reached my reserve — what now?"

"Bidding went well past my reserve — what's the upper limit?"

"The winning buyer pulls out after reservation"

"I want to change my mind before bidding opens"

"I'm sale-dependent on an onward purchase that might delay completion"

Our model only works when yours does.

Get an honest figure on your property.

Why we built it this way.

Everything you need to know — operationally.

Ready to find out what your property could be worth?

From first conversation to keys handed over. Here's what actually happens.

Howsold — in a paragraph.

Three ways to sell. Three different outcomes.

Traditional Private Sale

Traditional Auction

Modern Method of Auction

A typical Howsold sale — chronologically.

What you actually sign — and when.

The Howsold instruction agreement

The auction sale memorandum (and the buyer's terms)

The conveyancing contracts of sale

What we ask from you.

A named person. A direct line. No call centre.

Josh Owens

Plus operations, listings, and post-reservation progression

Phone, WhatsApp, email — your choice

What actually happens when bidding opens.

Feature comparison

Now you've seen how it works — what's an honest indicative figure on yours?

Common scenarios — and what we do about them.

"No bidder reached my reserve — what now?"

"Bidding went well past my reserve — what's the upper limit?"

"The winning buyer pulls out after reservation"

"I want to change my mind before bidding opens"

"I'm sale-dependent on an onward purchase that might delay completion"

Our model only works when yours does.

Get an honest figure on your property.

Why we built it this way.

Everything you need to know — operationally.

Ready to find out what your property could be worth?

Related reading

Talk to the Howsold team

Get your property sold.