SDL Property Auctions run two main types of auction.
The first is their Auction Events, which are live-streamed on their website every month.
The second is their Timed Auctions on their website, which feature a single lot and generally run for three weeks with a set start and finish time.
For both types of auction, you can choose between a conditional and an unconditional auction sale.
With unconditional auctions, a non-refundable deposit is paid, and contracts are exchanged immediately. The buyer must then complete within the agreed completion period, which tends to be 15 working days.
For conditional auctions, the buyer pays a reservation fee which grants them exclusive rights to purchase the property from you for a period of 40 days. Unlike unconditional auctions, the buyer is not legally bound to complete the purchase.