Sell your land at auction

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

Sell your land at auction

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)

This is our most popular auction method as it combines elements of Private Treaty and auction. It provides the speed, transparency and security of a Traditional auction but exchange and completion take place within 56 days of the auction ending. This extended timescale allows more interest as it enables mortgage and first-time buyers to participate. You may have also heard this method referred to as “Conditional” method of auction.

Traditional Method of Auction

Exchange of contracts takes place as soon as the auction ends. The buyer is required to pay a 10% deposit at the point of exchange and must complete within 28 days. This is the most secure and fastest method of sale; however, it can limit interest to cash and investment buyers. You may have also heard this method referred to as “Unconditional” method of auction.

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