The Move Market listings involve non-binding bids.
A non-binding bid isn't a formal contract between the buyer and the seller, but it does represent a buyer's serious interest in buying the property.
The buyer and seller don’t create a formal contract to buy/sell the property until the exchange of contracts.
If the buyer discovers that the property does not match the details and condition described in any particulars provided, the buyer may pull out of the transaction.
As The Move Market has long running auctions and the seller can amend the end time, we allow buyers to cancel their bids at any point before the auction ends.
You're not allowed to cancel bids to manipulate the bidding process, like trying to find out the maximum bid of the other bidders or to find out the reserve price.
Make sure you follow these guidelines. If you don't, you may be subject to a range of actions, including limits of your buying and selling privileges and suspension of your account.
Your bid affects how other buyers bid for a property and the property's final price. Whilst the bid is not a binding contract - it is a fast and fair way to agree the price with the seller.
We need to stop any behaviour that reduces the benefits of The Move Market as a property marketplace, so any bid cancellations that look like they were intended to disrupt an auction or gain a competitive advantage will be against the spirit of our marketplace and may result in actions being taken against you.