I’m in the middle of selling the house I’ve done everything I have to do with part I’m just waiting for the buyers the end date is the 11th December what happens if they decide to pull out, what can I do
Nothing. Put it back on the market. The joys of house transactions!
“modern auction” . You mean the one where you pay no fee but the buyer pays it all and if they pull out then lose that fee.?
I looked into this recently. There are apparently 3 methods of auctioning. The traditional method where the property is sold on the fall of the hammer, the so-called modern method, where as Colin says, it can be common for the buyer to pull out further down the road, or a half-way point, where the buyer is given some time to get funding together and check-out the property more thoroughly, but still exchange contracts when the hammer comes down. I still haven’t decided what I’m doing with my property yet, but my understanding is that the market is pretty dead at the moment and unlikely to change until things settle after the budget.