Sell your land at auction

18/02/2020
By: LSL Land & New Homes

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Selling land has never been easier with our Modern and Traditional methods of auction.

COMPLETE FASTER

On average, Private Treaty can take over 100 days to complete whereas auction provides fixed exchange and completion dates of between 28 and 56 days. This means you can plan your move more easily.

OPTIMISED EXPOSURE

An attractive starting bid increases interest and encourages competitive bidding between prospective buyers, which can help to drive up the final selling price of your land.

Selling land via auctionNO SALE, NO FEE

Nothing to pay if your land doesn’t sell. You only pay an Auction Pack fee of between £395 and £445 inc. VAT depending on your circumstances, but only when your land sells. (See Auction Pack Fee section on pg. 7 for more details.)

ADDITIONAL SECURITY

With auction, buyers pay a non-refundable Reservation Fee or deposit to secure the Lot so all parties can move forward with confidence.

A Reservation Agreement is also signed by the buyer, committing them to complete the purchase. This means the risk of fall-through with auction is less than 5%, unlike Private Treaty which has an average fall-through rate of 30%.

We offer multiple selling options to suit your needs


Modern Method of Auction (MMoA)

The modern method of auction combines elements of private treaty and traditional auction, making it a more accessible auction method. These auctions usually take place online, creating a larger marketplace which helps gather more interest and activity.

This method offers the security of traditional auction as the buyer pays a non-refundable reservation fee and signs a reservation form, committing them to the purchase. Like traditional auction this method has fixed timescales, however these are 56 days to complete making this auction method accessible to mortgage and residential buyers as well as investors and cash buyers.

This method is often best suited to sellers that are looking for the speed and security of an auction with a larger buyer market.

Traditional Method of Auction

A familiar auction method that usually takes place at a live auction event. It offers the buyer and seller speed and complete security as the buyer makes payment of a 10% deposit and exchange of contracts takes place straight away. Completion takes place 28 days later.

These more restrictive timeframes can limit interest to cash buyers and investors so its usually best suited to those that need a quick sale, are not in a chain, or have a property that wouldn’t be considered as suitable for mortgage lending.

*Limited availability in Scotland please contact us for more information 

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