Despite lockdown restrictions tightening in Greater Manchester, online property auctions are continuing to go from strength to strength!
The outstanding auction team at Edward Mellor saw the above challenge and didn’t let it get them down – masks on and sanitiser in pockets, they went above and beyond to match motivated vendors with their perfect purchasers.
Last week’s property auction saw an amazing 19 lots sell, raising nearly £2.6m.
Our Head of Auctions, Aaron Wade, commented on the success of the online property auction:
“We wouldn’t usually hold an auction in the month of August due to it typically being ‘holiday month’, however, with how high demand is at the moment we decided this wasn’t an opportunity to miss out on! It was another really great day! We had buyers from up and down the UK registered to bid and the team are still working hard with our dedicated buyers to get the after auction business tied up. There’s still a fantastic range of properties available to buy, so if you see something you like, give our team a call on 0161 443 4740.
I’d also like to take the opportunity to welcome our new office manager, Louise Buttery, to the team. She brings a wealth of experience to the role and we’re all looking forward to working with her to help deliver a better experience for our customers.
Due to continued success, we are currently expanding the department. If you work in the property industry and would like a challenge, get in touch.
The September auction starts on the 15th. Thanks again for all that participated and we look forward to hearing from you soon!”
— Edward Mellor (@edwardmellor) August 18, 2020
Did you miss our August auction? You can click here to view the full list of results from last week.
We still have a few fantastic properties for sale post-auction, so make sure you take a look. You could bag yourself a bargain!
Let’s take a second to look at a few residential and commercial properties that stole the show at our summer sale.
One of the highlights early on in our online auction was the sale of the above two-bed terraced property in Abbey Hey, Manchester.
The perfect buy-to-let opportunity, this lot was to be sold with a tenant already in place.
The virtual viewing played such an important part for our client’s success as the tenant didn’t feel comfortable with physical viewings due to the current situation.
This didn’t deter any of our dedicated buyers and within a matter of days, we had received five pre-auction offers!
Although tempting for our client, we knew we could achieve more and advised to let the property go to auction – and we’re sure our client is happy they did! After 62 bids, the virtual gavel finally fell on a sale price of £98,500 which is an unbelievable £28,500 above guide!
Our client even had this to say: “We had an excellent experience selling our property on their online auction. Louise was our point of contact and kept us informed every step of the way. Her knowledge of property pricing was invaluable to us in setting our reserve. It was a tenanted property and Louise even took the time to explain the process to our tenant. We will definitely use this service again.”
We make the process of buying houses as stress-free and accessible as possible and Gordon Street is a great example of how our virtual tours massively helped our vendor achieve an amazing result for their property.
As not all investments come in the shape of a house, our first star lot is Lot 61, a large mixed-use property with four self-contained retail units and three self-contained flats.
Having owned the property for over 30 years, our client had retired and wanted to sell the property quickly and securely to help their family.
After discussing with our client, it was decided we would guide the property at £110,000 which helped generate a lot of interest. 12 viewings were booked in however 7 decided the virtual tour showed them exactly what they needed to see and chose to blind bid instead.
From 12pm last Wednesday bidding initially started slow but really picked up in the last hour with the virtual gavel falling on a sale price of £129,000 – 15% above guide!
Our clients are more than happy with the result and will receive their money in less than 28 days!
The next lot we’d like to talk about is Lot 5, a two-bed terraced property situated in Bury.
The perfect first-time property project, this home is ideal for anyone looking to take a step onto the property development ladder.
In need of some modernisation, our auction valuer, Louise, commented it was almost like stepping back in time when entering the home!
Another testament to the speed of auction – we listed this property and managed to secure 27 viewings prior to auction day.
When we spoke to our client about selling the property, we advised a guide price of £110,000 but once again we exceeded our clients’ expectations and the hammer finally fell on a sale of £143,000.
The contracts were exchanged immediately and our clients will have their money in 28 days. From start to finish, our clients were able to sell their home in less than four weeks.
— EdwardMellorAuction (@MellorAuction) June 22, 2017
The success of our online auction just goes to show that despite these unpredictable times, life goes on and the process of buying and selling property is still something that can be achieved.