Prior to placing a lot on hold, please review the following information.
Note: This information does not pertain to commercial or multi-family parcels.
- Lots will be available and sold on a first-come first-serve basis at MLC Group.
- To request a Lot Hold you must complete our online form. You will receive confirmation from MLC Group of the Lot Hold within 48 business hours of submitting the request.
- Lot Holds last 7 days, inclusive of weekends and statutory holidays. Lot Holds can be extended on a lot by lot basis; please request an extension on the hold by contacting MLC Group 24 hours prior to the lot hold expiration date. MLC Group can only grant additional one week extensions at a time. If at the end of the 7 day period MLC Group does not receive an extension request, they will release the Lot Hold.
- Backup Holds: MLC Group will allow for backup holds to be placed on lots if more than one party is interested in holding a particular lot. If Purchaser A puts a hold on their lot, and Purchaser B requests a hold on the same lot, we will allow Purchaser A to have the 7 days with their lot, and they will have to pay the Initial 20% deposit and sign their agreement by the end of the 7 days, with no lot hold extensions permitted. If they are unable to complete this, the hold will then be moved to Purchaser B, in which case they will have 7 days to purchase the lot.
- Lot Hold Challenge: If the Lot Hold with Purchaser A is challenged by Purchaser B, then Purchaser B must provide MLC Group with a cheque representing the 20% down payment on the lot. MLC Group will notify Purchaser A that a challenge is being issued and Purchaser A will be granted 48 hours (does not include weekends or statutory holidays) to either execute an Agreement for Sale and provide MLC Group with the balance of the 20% down payment or alternatively release the lot to Purchaser B.
Ready to move forward? Complete the Lot Hold Request form below.
