Auction (about 35% of all land sales)

With this method of land Sale, the public bid for the land (with or without a reserve). Exchange takes place at the fall of the hammer.

There are various reasons for putting land into auction. An Auction is a good method of sale:

  • For corporate bodies – where they need to demonstrate that they have obtained an open market value.
  • Where a guaranteed sale is required
  • Where there are issues with the land (which the foolish may not appreciate)

Some Estate Agents specialise in Auctioning and put land to auction as a matter of course. Auctions avoid timewasters and can produce some very good Land prices. Land auctions are still very seasonal taking place either between:

  • March to the third week of July
  • September to 1st week of December