Legal
Refund & Cancellation Policy.
Last updated: 8 July 2026. Our policy on cancellations, refunds, and dispute resolution.
Summary
Rapideal auctions are real-property transactions, so standard consumer "14-day cooling-off" rights do not apply. Our cancellation and refund policy is:
| Situation | Seller deposit (£500) | Buyer fee (1.5%) |
|---|---|---|
| Auction closes with no winning bid | N/A (no acceptance) | N/A (no acceptance) |
| Auction closes, seller rejects all bids | N/A (no acceptance) | N/A (no acceptance) |
| Seller accepts bid, pays £500 within 48h | Refunded on completion | Charged on completion |
| Seller accepts bid, fails to pay £500 within 48h | N/A (forfeited auction) | N/A (auction forfeited) |
| Seller accepts, pays £500, then withdraws before completion | Retained (Clause 4A) | N/A (no completion) |
| Seller accepts, buyer withdraws before completion | Refunded to seller on completion | N/A (no completion) |
| Sale completes successfully | Refunded to seller | Charged 1.5% of accepted offer |
1. Cancellation of a listing (seller)
You may cancel your listing at any time before accepting an offer, with no fee. After acceptance, the rules above apply.
2. Cancellation of a bid (buyer)
Sealed bids cannot be withdrawn once submitted. If the seller accepts your bid, you are committed to the transaction. Withdrawing after acceptance may expose you to a damages claim by the seller.
3. Forfeited auctions
If the seller accepts a bid and then fails to pay the £500 deposit within 48 hours, the auction forfeits automatically. The buyer's offer is cancelled, the listing is re-opened as a fresh 7-day auction, and both parties are notified.
4. Buyer fee refunds
The 1.5% buyer completion fee is charged on completion. If the transaction does not complete for any reason (including seller withdrawal, buyer withdrawal, or failed conveyancing), the buyer fee is refunded in full.
5. How to request a refund
Refunds are processed automatically based on transaction state. If you believe a refund is due, email billing@rapideal.co.uk with your transaction reference (format RAPIDEAL-TX-XXXX).
6. Refund timing
Refunds are processed within 5 business days of the trigger event. Funds are returned to the original payment method.
7. Disputes
If you disagree with how a refund was handled, see our Complaints Procedure.
8. Contact
Questions: billing@rapideal.co.uk.