HOW TO BUY - AUCTION PROCESS
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Any interested parties must register to participate in an LDA auction. Details of how to register are available as part of the Sales Documentation for each auction. Once registered, a bidder’s number will be provided which is held up to indicate to the auctioneer that the bidder wishes to place a bid.
The block will be sold to the bidder with the highest bid above the undisclosed reserve price. If the highest bid is below the reserve price, a period of time will be granted for the registrant with the highest bid to exclusively negotiate with the LDA.
The successful bidder must sign a contract and pay a 10% deposit immediately. Contracts will need to be settled by paying the outstanding amount on the sales price on or before the completion date as stated in the contract.
Land Rent is not available on blocks sold at auction.
For more information
For more information regarding the sales process at the Land Development Agency please contact the Sales Team on 1800 777 952 or [email protected]
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