Auctions run in conjunction with The East Yorkshire Property auction at convenient local hotel. Selling property through our auction couldn't be easier with no estate agency fees to pay and the deposit paid by the buyer, securing the sale. The majority of our properties are offered for sale via the Modern Method of Auction. This is not to be confused with the Traditional Method, where a legal exchange of contracts is required immediately after the auction ends. Our auction is a more client-friendly process, still based around a fixed timescale but allowing longer periods for exchange and completion to further accommodate the residential buyer and seller. Modern Method Reservation fee paid within 48 hrs of auction completion (this is a reservation fee and does not form part-payment of the final selling price). 28 days for exchange of contracts. 28 days for completion of contracts. A more client friendly process allowing time for buying with finance and organising a removal van. Traditional Method 10% paid immediately after auction. Immediate exchange of contracts. 14-28 days of completion of contracts. A process more appropriate for commercial investments or repossession stock. Modern Method of Auction vs. Traditional Auction We offer both 'Traditional Auctions' and 'The Modern Method of Auction'. Traditional auctions are a tried and tested method for selling investment stock. The new Modern Method of Auction creates a transparent market place for the motivated residential buyers and sellers combining the best aspects of traditional auction and private treaty sales.