If you're considering selling or buying through the Modern Method of Auction, you probably have questions. Is it legitimate? What are the risks? What should I watch out for? This page gives you an honest, plain-English guide to how MMA works — the genuine advantages, the things to be aware of, and how Howsold's approach differs from other providers. We're an MMA specialist, so we have a perspective — but we'll be upfront about the limitations too.
Indicative estimate only · No obligation · No commitment
Our AI-powered tool analyses live sold prices and local market data to give you an indicative estimate.
Indicative estimate only. Based on comparable sold prices and AI analysis — AI can make mistakes. Not a formal valuation or professional appraisal.
The Modern Method of Auction (MMA) is a conditional property auction used across the UK. It sits between a traditional private treaty sale (through an estate agent) and a traditional property auction (28-day completion, cash buyers only).
The process: The property is marketed with a guide price and an auction deadline. Buyers bid competitively — online, not in a room. The winning buyer pays a reservation fee (typically 4.5% inc VAT or £6,600 inc VAT, whichever is greater) which commits them to the purchase. Both parties then have a 56-day window to exchange and complete — long enough for the buyer to arrange a mortgage if needed.
For sellers: You set a reserve price (the minimum you'll accept). If bidding doesn't reach your reserve, the property doesn't sell and you pay nothing (with Howsold). If it does sell, you pay zero Howsold seller fees. The buyer's reservation fee is the mechanism that is designed to keep them committed — unlike private treaty where a buyer can walk away at any point before exchange with no financial penalty.
For buyers: You get a competitive, transparent process and a 56-day window that allows mortgage finance. The key thing to be aware of is that the reservation fee is non-refundable in most circumstances. This means if you change your mind, you lose the fee. Buyers should always conduct thorough due diligence and take independent legal advice before bidding.
Zero seller fees (not all MMA providers offer this). Active buyer outreach from day one (not just portal listings). A named person in Liverpool you can actually call. Property Redress Scheme member. We recommend independent legal advice before you sign anything — with us or anyone else.
Property Redress Scheme member. Individual results vary.
Get a Free Estimate →¹ ~26% of UK private treaty sales fell through in 2025 (Quick Move Now). Auction reservation terms require buyers to commit financially before proceeding. † Based on Howsold sales to date. Past performance is not a guarantee of future results.
Not all MMA providers are the same. Here's what Howsold does differently — and why it matters.
Some MMA providers charge the seller a fee on top of the buyer's reservation fee. Howsold charges sellers nothing. Zero listing fee, zero commission, zero hidden costs. The buyer pays the reservation fee. You keep every penny of the sale price.
Some MMA providers list the property on portals and wait. Howsold contacts our pre-qualified buyer network from day one. Over 70% of our properties attract a buyer before auction day. Active outreach produces better results than passive listings.
You deal directly with a named person in our Liverpool office. A direct phone number. Someone who knows your property, your situation, and your timeline. Not a platform, not a chatbot, not a call centre.
Every fee — ours (zero), the buyer's, the solicitor's — is disclosed in writing before you commit to anything. If a cost isn't in the paperwork, it shouldn't exist. We recommend you read everything carefully and take independent legal advice.
Howsold is a member of the Property Redress Scheme, which provides an independent complaints process. If you're unhappy with our service, you have a formal route to resolution. This is a level of accountability not all MMA providers offer.
If we don't think MMA is the right route for your property, we'll say so. If we think your price expectation is unrealistic, we'll tell you. An honest conversation upfront saves everyone time and money.
Call 0151 203 8283 or use our free estimate tool. We'll give you an honest indicative valuation, explain exactly how the auction process works, what the buyer pays, what you pay (nothing), and what to expect at each stage. No obligation.
Your property is listed with a guide price, a reserve price (agreed with you), and an auction date. We contact our pre-qualified buyer network immediately. Pre-auction offers may come in — we present every one to you with honest advice. You decide.
The winning buyer pays a non-refundable reservation fee and is committed from day one. We target exchange and completion within 56 days. You pay zero Howsold seller fees. All terms confirmed in writing. Individual timelines may vary.
Illustrative figures based on stated assumptions. Not financial advice. Individual results will vary.
| Quick-Buy Cash Company | Traditional Estate Agent | HOWSOLD | |
|---|---|---|---|
| Typical offer/sale price | ~£200,000–£212,500 (15–20% below) | ~£250,000 (if it sells) | Competitive bidding result |
| Seller fees | Often £0 (built into discount) | £3,750–£6,000 (1.5–2% + VAT) | £0 |
| Timeline | 4–8 weeks | 20+ weeks average | Target 56 days |
| Buyer committed? | Yes | No — can walk any time | Yes — reservation fee paid |
| Fall-through risk | Very low | ~26% nationally | Reduced by reservation fee |
| Price mechanism | Single company sets price | Single buyer negotiates | Multiple buyers compete |
| Illustrative net proceeds¹ | ~£200,000–£212,500 | ~£244,000 after fees (if it sells) | Market price + £0 fees |
Sellers remain responsible for their own legal/conveyancing costs (typically £1,000–£2,500). Howsold fees are £0. Individual results vary. Not financial advice.
¹ Illustrative only on a £250,000 property. Quick-buy assumed at 15–20% below market. Agent at 1.5% + VAT. Individual results will vary. Not financial advice.
The Modern Method of Auction is a conditional online property auction used across the UK. Unlike traditional 28-day auctions, it allows both cash and mortgage buyers to participate — widening the buyer pool and increasing competition.
The reservation fee is the most commonly asked-about element of the Modern Method of Auction. Here's what it is and how it works at Howsold.
What the buyer pays The buyer pays 4.5% of the sale price inc VAT, or £6,600 inc VAT — whichever is greater. This is paid by the buyer, not by you. It is disclosed to all buyers before they bid, so there are no surprises.
What makes it non-refundable The reservation fee is non-refundable in most circumstances. If the buyer withdraws without a valid legal reason (such as a defect in title discovered during conveyancing), they forfeit the fee. This is the mechanism that commits the buyer and is designed to reduce fall-throughs.
Why this benefits sellers In private treaty, a buyer can walk away at any point before exchange with no financial penalty — contributing to the 26% fall-through rate. The reservation fee changes this dynamic fundamentally. The buyer has real money at stake from day one. This is the single biggest reason auction sales are more likely to complete than private treaty sales.
Advice for buyers If you are considering buying through MMA, ensure you have conducted thorough due diligence on the property, have a solicitor instructed, and have finance confirmed or in principle before bidding. The reservation fee is non-refundable — treat it as a serious financial commitment. Take independent legal advice before bidding.
The Modern Method of Auction is a legitimate and widely used method of selling property in the UK. For sellers, key protections include: you set a reserve price (the minimum you will accept), you pay zero Howsold seller fees, all terms are agreed in writing before you sign anything, and we are members of the Property Redress Scheme. As with any property transaction, we recommend seeking independent legal advice before entering into any agreement.
Buyers should be aware that the reservation fee (typically 4.5% inc VAT or £6,600 minimum) is non-refundable in most circumstances. This means if a buyer changes their mind, they will lose their reservation fee. Buyers should ensure they have conducted adequate due diligence, have finance in place or confirmed, and have taken independent legal advice before bidding. The 56-day completion window gives buyers time to arrange a mortgage and complete conveyancing, unlike traditional 28-day auctions.
The reservation fee is typically 4.5% of the sale price inc VAT, or £6,600 inc VAT — whichever is greater. It is paid by the buyer, not the seller. The fee serves as the buyer's financial commitment to the purchase and is the mechanism that reduces fall-throughs. It is disclosed to all buyers before they bid. Whether the fee represents good value depends on the buyer's circumstances — we recommend buyers take independent advice before bidding.
Zero Howsold fees. The buyer pays the reservation fee (4.5% inc VAT or £6,600 minimum), not you. Sellers remain responsible for their own legal and conveyancing costs, typically £1,000–£2,500. Everything is confirmed in writing before you sign anything.
Three key differences: Howsold charges zero seller fees (some MMA providers charge sellers); we actively work our pre-qualified buyer network from day one rather than relying solely on portal marketing; and you deal with a named person in our Liverpool office — a direct number, no call centres. We are members of the Property Redress Scheme.
If bidding doesn't reach your reserve price and no pre-auction offer suits you, the property doesn't sell and you pay Howsold nothing. We can re-run in the following month's auction with any adjustments discussed beforehand.
Yes. We are members of the Property Redress Scheme. Finance introductions via Melius (FCA-authorised) — a referral fee will apply if a referral is made, and will be disclosed to you. Howsold is a trading name of Latomus Capital Limited (Company No. 15497250), registered in England & Wales.
An honest, indicative estimate. No obligation. Take independent advice before committing to anything.
Our AI-powered tool analyses live sold prices and local market data to give you an indicative estimate.
Indicative estimate only. Based on comparable sold prices and AI analysis — AI can make mistakes. Not a formal valuation or professional appraisal.