The two preferred methods of sale are:
The purchaser can ‘cool off’ (ie change their minds) within 5 working days and forfeit 0.25% of the purchase price unless the contract is made unconditional. The vendor is always bound. An unconditional sale is obviously preferred but it depends on the circumstances.
It is preferable to indicate a price range in auction advertising.
COMMENT: The ‘right’ method depends entirely on the property and circumstances.