the modern method of auction
end to end auction services - from bespoke online auctions to live auction events
Barnard Marcus' auction partner iamsold, part of the iamproperty Group, is the largest residential auctioneer in the UK and pioneer of the Modern Method of Auction (MMoA).
iamsold work with a network of 5,000 Partner Agents as an expansion of their business, enabling them to provide auction services to their clients and grow their business.
They offer a comprehensive range of end to end auction services, meaning that they can tailor the offering to their client's circumstances and preferences. From bespoke online auctions to live auction events, they work with our partners to find the best route for each client.
an award winning auction service provider
iamsold is the pioneer of the Modern Method of Auction and the market leader in online auctions, with over 60% market share. They offer the most complete and comprehensive range of property auction services in the UK, offering a range of auction types and formats to suit a client’s specific needs and circumstances.
Modern Method of Auction (Conditional)
The most popular auction method, combining the best of both Private Treaty and Traditional Auction. Offering the speed, transparency, and security of a Traditional Auction but with an extended completion timeline of within 56 days (based on standard properties. From receipt of draft contracts). This extended timescale makes auction more accessible to a wider range of buyers including mortgage and first-time buyers, helping to generate a greater level of interest for a property.
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This method offers quick but more flexible timescales of 56 days to complete
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More flexible timescales allow interest from first-time and mortgage buyers as well as investors
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Security for both buyers and sellers through a non-refundable Reservation Fee and Reservation Agreement
Traditional Auction (Unconditional)
In Traditional Auction transactions, exchange of contracts takes place as soon as the auction ends. The buyer is required to pay a 10% deposit at the point of exchange and must complete within 28 days. This is the most secure and the fastest method of sale; however, it can limit interest to cash and investment buyers only.
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It usually more suited to vacant properties, or those not suitable for mortgage lending
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It provides complete security as exchange takes place at the end of the auction
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Fixed timescales of 28 days to complete