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Published on : October 29, 2024 12:08

Edward Mellor’s October Auction Results Show How We Make Selling Property Simple.

It’s been another busy month for our tenacious auction team, who have overseen two auctions this October and sold dozens of exciting lots under the virtual gavel. 

With so much going on you might think there isn’t any time to shout about what’s happening, but we love sharing our success stories with both new and existing clients. Besides, what better way to show how you could join in the action and sell your property for a great price quickly and easily? 

In our latest collection of auction success stories, we’ll examine how selling at auction can help vendors sell ‘problem properties’ that have struggled on the open market or need an alternative method to achieve a rapid sale. 

October 23rd – October 24th Auction Results

During the second of our October property auctions, contracts were exchanged on over 35 properties, generating over £5,500,000 for our grateful vendors. There are still a few properties available, so follow the link below to see the results for yourself and to secure one of our remaining lots before they all go!

October 23rd Property Auction

Lot 52 – 2 Ashfield Grove, Gorton

Number 2 Ashfield Grove was a four-bedroom property, set in a great location close to both the M60 and Debdale Park. Despite representing a fantastic investment opportunity, Ashfield Grove needed some renovation work, making it the ideal home to sell at auction. 

One of our regular clients brought the property to Edward Mellor after they had secured a court order to take vacant possession. Upon entering the home, the owner found that it had been left in a poor state, which meant a careful strategy was needed to achieve a quick sale at a good price. 

Given the property’s condition, we agreed with the vendor to set a lower reserve of £120,000 as we were sure that the home would sell for far more than this. 

The property’s potential as a good investment and low reserve price attracted several determined bidders, resulting in an amazing sale price of £161,000!   

The vendor was extremely pleased with the final sale price and quickly thanked the team for their hard work. It just shows how our experience and tried-and-tested methods can secure impressive sale prices where you might not expect them.   

Lot 59 – Bowmont Close, Cheadle Hulme

24 Bowmont Close was a wonderful three-bedroom family home in a spacious corner plot in a quiet cul-de-sac within the highly sought-after Cheadle Hulme community. Despite everything that the property had to offer, it had previously languished on the open market for six months with another estate agent. 

We knew that such an attractive family home deserved better and within just one week of marketing the property, we had secured ten viewings and three offers. However, given the high interest in the home, the vendor decided to let Bowmont Close go to auction where we felt it would achieve the best possible price. 

On the day of the auction, bidding on Bowmont Close started at £265,000 with the final sale price coming in at a fantastic £300,000! This was exactly the kind of result the vendor needed, allowing them to receive the funds from their sale within 28 days.

Lot 2 – 31 Didsbury Road

Selling at probate is another area where selling at auction can help secure a quick sale while the vendor faces difficult circumstances. While a landlord may be frustrated or inconvenienced when selling a property that has been left in poor condition, vendors selling a home where a family member has passed away face the additional hardship of managing the emotional strain that results from the loss of a loved one. 

Our auction team has extensive experience in selling properties at probate and can support families by handling the legwork of property sales while resolving the process quickly at a good price. 

The vendor of Didsbury Close approached us after their solicitors recommended Edward Mellor to help them sell their property at probate. Upon entering the property, it was clear that it needed extensive renovation work so we acted quickly to agree on a suitable reserve price to begin generating interest. 

Our reserve price attracted several potential buyers, but it was clear from their feedback that buyers were being put off by the amount of work that the home required. 

After discussions with the vendor, we agreed to lower the reserve price to better encourage buyers to bid on the day of the auction. Once the auction was live the property hit the reserve within 10 minutes and after a flurry of bids the gavel finally came down at £208,000 – £58,000 over its reserve price!

This was an important result for the vendor, allowing them to close a difficult chapter of their lives and begin to move forward. It was also a great example of how our team can monitor the marketing and interest in auction sales to ensure that a property achieves the best price on auction day.

Lot 22 – 5-7 Market Avenue, Ashton under Lyne

Our final action success story for this month is a commercial property, which had been passed down for generations and proven to be a reliable and lucrative family investment. Having decided to finally sell the property, the family had explored traditional property sales but felt assured by the speed and security that our action process could provide.

By choosing to sell through our auction and trusting our guidance, they ultimately achieved an impressive £75,000 over the reserve price—far exceeding the expected market value and ensuring they honoured the legacy of their family investment. 

Talk to Edward Mellor Property Auctions Today

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 local organisation that combines auction, estate agency, and financial services under one roof. 

Our next online property auction is set to take place on the 13th – 14th of November 2024, so register today to bid and access legal packs for the properties on offer. Remember, this will be the last chance to sell your property at auction during 2024 and receive the funds from your sale before Christmas.

Book an Appraisal

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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