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If you are looking to sell your development land via Auction, our trusted Sales Progression team is on hand to offer quick, free market valuations and planning advice, to help take the sale through to completion, whislt keeping you updated, every step of the way.
To start the selling process, book a valuation and we will be able to advise you on the best option to sell your property, whether selling by the modern method of auction at 0% agency fees, or the standard process at variable fees.
There are many benefits to selling land via Auction
Complete Faster
Auction offers quicker completion, and provides fixed exchange, with completion dates of between 28 & 56 days
Maximise interest
Potential for greater exposure and increased interest, which may lead to a competitive bidding between prospective buyers, which naturally drives up the final selling price
0% Commission
Nothing to pay if your property doesn't sell. You only pay an Auction Pack Fee on completion
Additional Security
Gazumping or re-negotiation is no longer possible, as the buyer and vendor enter into a Bidding Reservation
Modern Method V Traditional Method of Auction
The modern method of auction isn’t something new, it has actually been around for a number of years, however, it is now growing in popularity due to the extra benefits it provides to buyers. Check out our guide to explore the differences between the two.
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 of Auction, contracts are exchanged immediately with completion taking place within the next 28 days.
Complete security is provided, but this method is more suited to the ready cash property professionals as it is legally binding.
A step by step guide to selling land via auction
1
Pricing
We'll discuss and agree an undisclosed Reserve Price (the price your property will not sell any less than) and a starting bid (the price that the property is marketed at to generate interest).
2
Preparation
Your estate agent will prepare all the property details, take photographs and arrange the EPC if required.
3
The Auction Pack
The team will begin preparing the Auction Pack including all legal documentation. The cost for the pack is only payable by you if your property sells.
4
Pre-Auction Marketing
We begin to advertise your property whilst the Auction Pack is being prepared, to generate as much exposure, interest and viewings as possible.
5
Ready, Set, GO!
Once the Auction Pack is complete, an end date and time is set on your bespoke auction, and your property goes 'live', meaning bids can be made via the online or room auction.
6
Bidding
All prospective bidders must download the Auction Pack and accept the terms before bidding. Bids can be viewed and made online, over the phone or in person at a live auction event.
