It was a very busy and highly charged room at our first property auction of 2018. The significance of pricing correctly, marketing methods and to quote one of our corporate clients “the importance of getting a property in the right auction” was on show on Monday.
We had a fantastic line-up of 50+ properties that went under the gavel which achieved some incredible prices. If you’d like to see the results of yesterday’s property auction, click here.
Cemetery Lodge in Wilmslow was the first lot offered at our February auction on behalf of corporate clients and the local council. This was offered last year by another auctioneer where it failed to sell.
We gave solid, sound advice on pricing as the remit was “this must sell”. We priced this property at £200,000 which attracted over 55 interested buyers! Once we had received feedback from all of these buyers, we gave this feedback to our client(s). We were then able to advise where the reserve price should be set to maximise the potential sale price. As an auctioneer, this was a superb property to offer because the price was right and there was a lot of interest in the property prior to the auction.
Quite a few bidders had their heart set on buying this house and were trying to make sure that their offer was the last! This lead to an incredible sale price of £370,000 which was 85% over guide price!
We had a great line-up of commercial properties in our February auction. We offered this “run of the mill” mixed use investment in a secondary trading position in Reddish, Stockport. The property had a yield of £750 per month (£9,000 per year) and was sold on behalf of a client who required some capital to fund another purchase. For this client, price was not the main aim. Instead they wanted the speed and security of selling at auction. After a long consultation, we established that the client’s remit was to sell at a reasonable price.
We advised a “blueprint” method with a guide of £65,000.
The bidding eventually stopped after three bidders intent on purchasing came down to one. The price? Only £140,000.
We are already listing properties for our next sale in March, so if you’re looking to sell a residential or commercial property at a good price with definite timescales get in touch today! We have over 20 years of experience in the industry which has allowed us to finely tune our “blueprint of selling success” to help us achieve the best results for our clients time after time.