What do I do if my lot doesn't sell?

What do I do if my lot doesn't sell?

If your lot doesn't sell, there's still a good chance it may well sell after the auction. The auctioneer will try and sell it for at least 30 days after the sale, by contacting people who have shown interest in the lot prior to the auction. These will be people who have requested legal documents or maybe been around to see the property. You may, however, have to revise the reserve price in a downward direction to make it more inviting to prospective purchasers.