It’s been a busy month for our auction team with not one, but two auctions scheduled for July. The first of our online auctions was held over 3rd-4th of July and like always, provided some fascinating examples of how selling at auction can appeal to several clients with different circumstances but consistently deliver the same impressive results.
It’s always tricky to try to pick our favourite success stories out of all of the clients that we deal with, but this month we noticed that a number of our vendors had approached us to help them sell their properties quickly in response to challenging personal circumstances.
Our process of selling at auction is a proven way to sell property quickly and at great prices. This is why vendors trust us to sell their homes when time is of the essence. The following auction success stories have been chosen to demonstrate how our team can go out of their way to help clients secure a sale for clients when they need it the most. Take a moment to read about how we could help you, or if you know that you have a property that you need to sell quickly, don’t be afraid to book a free property appraisal today.
During our 3rd-4th July property auction, we exchanged contracts on dozens of properties, generating sales of over £3 million for our vendors. However, there are still a few lots available, so be sure to view our 3rd-4th July auction to avoid missing out.
You can find these properties, or learn more about buying and selling at auction by following the link below.
July 3rd-4th Propertry Auction
Sometimes the need to sell a property quickly can result from the frustration of having a sale fall through on the open market. Lumb Close, Bramhall had been on the open market from September 30 2022 to June 10 2024. During this time, two sales had fallen through due to buyers pulling out, even though the property was being marketed at £170,000.
When the vendor approached our team, we were quick to recognise the potential of the property and the interest it could generate. After swiftly listing the property for auction, we were able to generate significant interest from both new investors and regular customers in just a few short weeks.
Given the interest that had been generated in the property, the client was happy to proceed with the auction and when the day came, we were thrilled to report that Lumb Close had sold for £181,000!
It was a great example of how trusting our process can turn frustration into success and fully exceed the client’s expectations.
The vendor of Elm Road had spoken to three agents to enquire about the probate value of the property and had been given valuations of between £150,000 and £170,000.
Selling at probate can be a stressful experience, as sellers contend with the property being empty, the potential of people breaking in, and any damage being done to the property for which the vendor is liable. Selling at auction would offer the client speed and certainty at a time when they really didn’t need more stress.
We felt sure that the home had greater potential than other valuers had credited it with, so we were quick to implement our extensive marketing to give Elm Road the best chance to shine.
Our efforts certainly paid off, and when the hammer came down on the day of the auction, Elm Road sold for £192,000 – £22,000 more than the highest valuation from High Street agents.
Speaking to our Valuation Manager, Dale Cox following the auction the client said “Dale, this extra money is life-changing for me at this stage of my life. Thank you and Kieran for your hard work. I might even buy a new motorbike”
The death of a family member is always a difficult time, but when the loss is accompanied by further financial strains, the ability to sell property quickly can be all the more important.
The vendor of Windermere Avenue was confronted with this very circumstance, as the recent loss of a loved one had left them facing high interest charges on the property. With the average house sale taking 7-9 months on the open market, they needed a quick and secure alternative to avoid further losses.
We could see that Windermere Avenue was an attractive bungalow with a lot of potential, so we were quick to advise the client and set to work listing the property and marketing it for sale.
The trust placed in our process by the client and our swift action paid off, as on the day of the auction the property sold for £169,000 – £31,000 above the starting bid. More importantly, the immediate exchange and 28-day completion provided peace of mind and saved the client thousands in interest.
It’s always a genuine pleasure to help our clients when they need it the most and rewarding for our team to see their process produce solid results time and again.
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 24th-25th July 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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