With two separate property auctions running in July and generating over £10 million in sales for our vendors, you’d think the Edward Mellor auction team would be taking a break for a moment – but not a word of it!
August’s online property auction was every bit as exciting as its predecessors, with contracts exchanging on more than 40 properties. With lots ranging from family homes and apartments to commercial properties and development plots, there was a flurry of activity from bidders that once again brought out some impressive results and action success stories.
The excitement of auction day, interest from our buyers and the amazing results generated for our vendors are all made possible by the Edward Mellor auction team and its proven marketing and auction process.
If you have a property to sell, we’re ready and waiting to hear from you. With a free property appraisal with one of our auction experts, you’ll be able to learn more about our auction process and how much you could realistically make from a sale.
It’s not uncommon for potential sellers to think that selling at auction is a last resort where the final sale price is typically lower than on the open property market, but nothing could be further from the truth. Although property auctions allow homes to change hands quickly, the final sale price reflects the true value of the lot. Vendors can even set a minimum reserve price, so there is no risk of a property selling at a price lower than the vendor is willing to accept.
To learn more, or to register your property for auction, simply contact our friendly team on the link below.
Our 14th-15th August property auction boasted over 95 available lots, with sales amounting to close to five and a half million for our vendors.
There are still a few lots from the auction available for purchase, so if you missed the auction on the day and would like to get in on the action, simply follow the link below to visit our August auction page. There you’ll find information on all the hammer prices of sold properties and contact details for the remaining lots.
August 14th – August 15th Auction
Once again, it’s been a difficult task to pick just a few of our favourite auction success stories, but the examples below have been chosen to reflect how property auctions can fully exceed the expectations of vendors or even secure a great sale price where others have failed.
As a substantial, bay-fronted Victorian property, 7 Edmund Street in Salford was a property that we felt sure was worthy of attention. Despite needing a little TLC to bring it back to its former glory, Edmund Street had excellent potential as a spacious three-bedroom family home with the possibility of reconfiguring to four or even five bedrooms.
We were instructed to sell the home on behalf of one of our long-standing clients and moved quickly to begin generating interest in the property. Based on the seller’s expectations we agreed on a starting bid of £140,000 and began marketing to potential buyers.
After just six viewings we achieved three pre-auction offers. It was decided to let the property proceed to auction and on the day the bidding was fierce with the hammer finally coming down at £169,000!
Once the sale had concluded the vendor was thrilled with the result and had these kind words to say:
“Louise and Edward Mellor Auctions have a great feel for the market. Perfect advice on what guide price to set and the right reserve price. We achieved keen interest and a great final sale price well above the reserve!”
This spacious three-bedroom end mews property was brought to market with vacant possession, making it an ideal BTL opportunity or move-in ready family home. With its desirable location close to various amenities including shops, schools and great transportation links, we were sure that Shelley Road would generate significant interest.
Once we started marketing the property we received an impressive 47 viewing requests and multiple pre-auction offers. Knowing that the property would perform well at auction, the vendor agreed to set a reserve price of £100,000 and looked forward to seeing how bidders would react on the big day.
On the day of the auction, Shelley Road finally sold at a fantastic £163,000 – £63,000 over the property’s original reserve!
The vendor was understandably impressed at the demonstration of the effectiveness of our approach and the return on the trust placed in our recommendations. We were thrilled when we saw the kind words the vendor had for Amy and Chloe, who worked closely with the seller during the auction process.
“Thank you Amy for your help and advice with the sale of 54 Shelley by auction. Your expertise and professionalism were much appreciated. You certainly know what you are doing and are very efficient but also very approachable and pleasant. You did an amazing job, thank you. Enjoy your well-deserved weekend.”
“Thank you Chloe for all the work you put into the sale of 54 Shelley Road. It was an amazing result all down to your professional advice. You and Amy are certainly experts in your line of work. Many thanks for your help, it was much appreciated.”
Despite its place as a three-bedroom home in the popular location of Edgeley, 14 Alder Grove had stalled twice on the open market, with sales falling through due to unmotivated buyers impeding the sale process.
The property had been on the market for 10 months when it came to the auction team, but once we entered the home into our first auction cycle three offers came in right away!
Over the following days, we quickly achieved over 20 viewing requests for the property and when the home finally went to auction, it sold for £147,000. This was all in the space of two weeks – and £7,000 over the vendor’s reserve making for a very happy seller.
We were chuffed with the result too, as it was a fantastic demonstration of how our proven auction process can deliver reliable results when our buyers need them the most.
The vendor of 46 Delacourt Road in Fallowfield had lived in the property for 44 years and brought her two daughters up in the home. The decision to sell the property was obviously an emotionally charged one. However, with one of her daughters getting married, the vendor decided it was the right time to sell to unlock additional funds to put towards her daughter’s wedding while also keeping some money aside to help with her own health issues.
We worked closely with the vendor to agree on a guide price of £175,000 with a reserve of £200,000. It wasn’t long before we received two offers for £200,000 and £215,000 respectively, but however tempting these offers were, we felt sure that the property could do better at auction.
On the day of the sale, eight registered bidders battled it out for the property with the final sale price finally coming in at £295,000 – a massive £95,000 over its asking price.
With so much emotional weight tied up in the sale of this family home, it was especially rewarding for the team to be able to achieve such an impressive result and allow the vendor to achieve her goals.
If you are looking to sell your property at auction, speak to our auction experts today. Edward Mellor is a leading national property auction house and the only organisation locally that combines auction, estate agency and financial services all under one roof.
Our next online property auction is set to take place on 11th-12th September 2024, so register today to bid and access legal packs for the properties on offer.
If you would like to find out more about selling at auction or how to register to bid, please do not hesitate to contact the auction team on 0161 464 7903 or email [email protected].
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