What are the benefits to buying land via Auction?

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Buying Land Through Auction

There are many benefits to buying land via Auction

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Complete Faster

Auction offers quicker completion, and provides fixed exchange, with completion dates of between 28 & 56 days
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Quick & Easy bidding icon

Bid online from the comfort of your home, 24 hours a day, 365 days a year
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Buy with a Mortgage

It is possible to buy at auction with a mortgage, due to the extended timescale of 56 days to complete
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Additional Security

Gazumping or re-negotiation is no longer possible, as the buyer and vendor enter into a Bidding Reservation

Modern Method of Auction

Through the Modern Method, as the successful buyer, you will be required to pay either a Reservation Fee or Reservation Deposit.

The property is then reserved exclusively to you. You are then required to unconditionally exchange contracts and complete the transaction within 56 days.

Traditional Method of Auction

Through the Traditional Method contracts are exchanged immediately, with completion taking place within 28 days. Complete security is provided but this method is more suited to the property professional.

We will require a 10% deposit paid on a non refundable basis and in some cases a reservation fee as well. Once you have reserved your property, we will go through an identification and verification process with you, and you will need to instruct a solicitor to act on your behalf. The sales file will then be passed to our Sales Progression Team, who will provide updates throughout the process.

You will have 28 to 56 days in which to complete the purchase.

A step by step guide to buying land via auction

1
Search
Search for properties for auction.
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2
View
Once you've found and viewed your property of choice, our auction team will be in touch to discuss your feedback and potential interest in bidding for the property.
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3
Register
When you are ready to place a bid, you will need to register an account by contacting our specialist land team. An active account allows you access to further important information, watch lists and the ability to bid.
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4
Buyer Information Pack
Once registered, you need to do your due diligence before proceeding. To help you, each property has a Buyers Information Pack and we highly recommend as well as viewing the property, you and your solicitor, review the information within this pack fully, before bidding.
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5
Bidding
Your can bid online, in-branch, over the phone or at one of our public events. Our online system allows you to view the current bid, the amount of bidders and a live countdown to the end of the auction. You can enter your bids manually or allow our 'Maximum Bidding' function to do this for you.
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6
The Winning Bidder
Depending on the method of auction, you will have between 28 days and 56 days to complete the purchase.
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