It’s been a busy year for the Edward Mellor auction team, but as 2023 draws to a close we were determined to pull out all the stops for a special December auction!
This month’s auction was exciting as ever, with a flurry of interest from our buyers. When the action was finally over, we had exchanged contracts on 36 properties – a whopping 71% of all the auction lots for sale!
In all the total amount raised from December’s property auction was over £5 Million – a smashing result for both our vendors and the Edward Mellor auction team – What a way to see out the year!
We’ve loved sharing the thrills of the auction market with you this year and we’re looking forward to seeing what happens in the New Year. In the meantime, we’d like to share a few of our favourite success stories from December before we return in January 2024.
Our December auction was a huge success, but there are still a few properties available post auction – so be sure to check them out before they go.
To help you get into the auction mood, here’s a few of the highlights from the December auction so you can see what all the excitement is about!
This spacious, two-bedroom terraced house was brimming with potential as either a family home or rental opportunity. It also boasted its own garden with a stand alone storage cabin as a unique selling point.
Having been granted probate, the sellers of this house contacted their local Edward Mellor branch for a valuation. By asking all the right questions, we immediately concluded that the property was best suited to auction. Although Salisbury Street was surprisingly larger than it looked from the front, the property was in need of some modernisation.
The sellers were hopeful of achieving £120,000 at auction, as they wanted to purchase their council-owned house. Given current market conditions we felt that a reserve of £112,000 was more realistic and would help to guarantee a sale and help the seller fulfil the dream of buying their home.
After a whopping 36 viewings and 12 offers, we were confident that the property would do well and our clients were thrilled when the bidding finally stopped at £136,000!
After the sale they had this to say: “The loveliest staff and most kind and helpful team! @ Edward Mellor made it very easy to quickly sell my Dads house/childhood home after he passed. Selling it in Auction for an amazing price. This made the process a lot easier and saved having to prolong the sadness during an emotional time. Thanks guys!”
This was a great opportunity to purchase a three bedroom mid-terrace property located in the popular area of Levenshulme.
The vendor had called the auction team hoping to sell the property as soon as possible due to her personal circumstances, so we worked quickly to price the property with the reserve the vendor wanted to set.
We launched the property but noticed that interest wasn’t at the level we thought it was capable of, so we spoke to the vendor and asked her to follow our strategy and she quickly agreed. We worked with her on the day of the auction by reducing the reserve slightly to ensure that the bids continued to come in.
We hit the new reserve almost immediately and had a flurry of bids, with the last bid coming in £12k above what the owner expected! This is a great example of trusting the auction team’s experience and it was greatly rewarding to help the client when they needed us.
Despite being an exciting investment opportunity, this eight-bedroom HMO had remained on the market for over 12 months following two failed sales due to financing issues.
The owner was looking for an exit strategy from his investment portfolio and this was the final piece of the puzzle. He was growing ever frustrated with the situation, so his agent approached us to assist them with finding a buyer quickly.
The property was listed in our December auction, which proved to be a huge success. The bidding started slow, but just within minutes of the auction ending the reserve price was met with the hammer finally falling at £12,000 over owner’s expectations.
Our client missed our congrats call, but soon sent us a message to say “Mate I am chuffed, thank you so much for all your efforts. If you need anything else from me, just ask. A new auction believer.”
This was a stunning success for our client. They were looking to sell this section of land quickly as they needed to release some funds for other projects. We reassured them that by following the auction process they were in the best place to achieve the best price.
After hundreds of conversations with potential buyers we decided to let the land run in the auction room to generate the most excitement. The bidding started well but the end result was phenomenal, as we managed to exceed the vendor’s reserve price by £33,000! Needless to say that the vendor was thrilled and we were ecstatic at another job well done.
That’s everything for this month’s round-up, except to say thank you for all of your support and custom throughout the year and we can’t wait to see you again in 2024!
In the meantime, whether you are looking to sell your home at auction, or grab a bargain that you won’t find anywhere else, the Edward Mellor team is here to help.
To find out more about selling your property at auction or would like help registering for our next auction taking place on 24th-25th January, please contact our team on 0161 464 7903 or email [email protected].
Merry Christmas and a Happy New Year from everyone in the Edward Mellor Auction team!
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