Most landlords think they have two options when they want to sell: estate agent or cash buyer. Some know about traditional auction. Almost none know that Modern Method of Auction exists — and the ones who do often have the wrong picture of what it actually is.
This is a straightforward breakdown. No sales pitch. Just what the model is, how it works, and who it's right for.
Modern Method of Auction is a property sale process where the buyer pays a non-refundable reservation fee upon agreeing to purchase. That fee — typically 3–5% of the sale price — is non-refundable if they walk away. The buyer has 56 days of exclusive access to the property, within which they can exchange and complete at any point. They are not legally obligated to complete, but they forfeit the fee if they don't.
The seller pays no Howsold fee — none. The buyer carries the financial commitment from day one. The seller is responsible for their own solicitor costs as with any property sale; our recommended solicitors typically operate on a no-sale-no-fee basis, and sellers can use their own.
Traditional auction requires buyers to have finance arranged and legal due diligence complete before they bid — because exchange happens on the fall of the hammer. This locks out the majority of buyers, including most mortgage-backed purchasers, and limits demand severely.
MMA opens the sale to the full buyer pool — cash buyers, mortgage buyers, investors — while still providing the commitment mechanism that estate agent sales lack entirely.
Not every property or every seller is right for MMA. Here's where it works best:
Estate agents typically want vacant possession. Most owner-occupier buyers don't want to deal with a sitting tenant. MMA attracts investors specifically looking for tenanted stock — you don't need vacant possession, you don't need to refurbish, and you don't need to serve notice before listing.
Beneficiaries often live remotely, the property may need work, and speed is usually a priority to settle the estate. MMA is specifically suited to this — no refurbishment required, defined completion timeline, and the property can be sold as-is.
If your priority is a clean, fast, certain sale rather than squeezing the last £5,000 out of the market, MMA delivers that. The reservation fee commitment means you don't get buyers renegotiating at the eleventh hour after you've already begun the legal process.
If you're managing mortgage costs on a property you need to exit, every month of delay costs you money. A 56-day maximum timeline versus a 6-month estate agent sale is a substantial difference in holding costs — often thousands of pounds.
This conflates MMA with distressed cash buyer sales. You set a reserve price — the minimum you will accept. If bidding doesn't reach it, the sale doesn't proceed. Competitive bidding frequently pushes above the guide price. You retain full control of the floor.
MMA was designed for motivated sellers who want speed and certainty — not problem properties. The distinction matters. A landlord who wants to exit cleanly in 56 days is a motivated seller. That's different from a distressed sale at a significant discount.
Buyers choosing MMA know how it works. They're selecting into a process specifically because they want to secure a property with defined terms. The reservation fee filters out tyre-kickers — which is actually in the seller's interest.
I co-founded Howsold as a specialist MMA platform — we do MMA only, not a hybrid model. Based in Liverpool, we operate across the UK with a particular focus on the landlord exit market in the North West. If you're a landlord who wants to understand whether MMA is right for your specific situation, the tools on this site will give you a starting point — and a conversation with Howsold will give you a real number.
No estate agent contract. No seller fees. A defined timeline from day one.
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