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Published on : March 11, 2024 14:14

 Our March property auction is another smashing success!

As March rolls on it’s hard not to notice the days becoming brighter and the emerging bright yellow daffodils – the cheery heralds of spring! It’s a time when we begin to think about fresh beginnings and preparations for the warmer days ahead. 

New beginnings were certainly a theme during this month’s auction, with several of our vendors celebrating stunning results that will enable them to begin new chapters in their lives. We’re certainly proud to share their stories and we hope that you enjoy them too!

On auction day, we sold more than 50% of our stock and have sales pending on a further ten properties, but there are still a few lots available. If you would like a chance to secure one of our remaining lots, act quickly by visiting our 6th-7th March auction page.

Lot 1 – 7 Bolton Street, Reddish, Stockport, Cheshire

This two-bed terraced property, set in a central Reddish location represented an attractive buy-to-let opportunity. At the time of the auction, the house was significantly underlet with the vendors looking to sell as their current BTL interest-only mortgage was coming to an end.

Naturally, the vendors were anxious for the property to sell, so made sure to price the home realistically to guarantee a sale. The starting bid of £78,000 certainly made the phones ring! We had several tentative offers but ultimately decided to save the property for auction to achieve a better price for our client. 

We set a reserve at £91,000 and after a lot of healthy bidding from several buyers, the house finally sold for a staggering £123,000! This was a fantastic result for our clients, who were quick to share their appreciation with us. 

“You are just complete stars in our eyes! We just hope it all goes through smoothly now – roll on the next 28 days! 

Thank you so much from the bottom of our hearts, we never thought we would make that much on it and were happy to just let it go and live our lives as you never know how long that is. 

Life is too short, I know for sure that we have said maybe we can have a special holiday, now we can!”

Selling at auction can be a way to sell a property quickly and secure funds post-sale in as little as 28 days. The sale of Bolton Street is a wonderful example of this and we’re certainly chuffed with the result.

 Lot 6 – 11 Celtic Street, Stockport, Cheshire

Set in a highly sought-after location in Stockport, we felt sure that this property would generate a lot of interest so it was little surprise when we received 24 viewing requests and several pre-auction offers.

We spoke to the vendor and agreed on a reserve price of £99,000. On the day of the auction, there was a further flurry of interest with the final sale price coming in at an impressive £137,000. 

This was a fantastic result that shows what can be achieved when our team and property vendors work together to build trust and implement our recommendations.

Lot 14 – 74 Rochdale Road, Shaw, Oldham

This two-bedroom property came to us as a new instruction and is an excellent example of how property auctions can be an effective way of selling property quickly. 

In this case, the vendor had decided that they no longer wanted to take on the pressures associated with being a landlord. They wished to sell the property in its current condition as quickly as possible with the certainty that the transaction would complete. 

Although the house had been occupied by the same tenant for many years, we were unable to gain any internal pictures or floorplans, which represented something of a roadblock which would have made selling on the open market difficult. 

Luckily, we knew the home was in a popular location in the district of Shaw, within walking distance of the town centre. With this in mind, we felt sure that we could achieve a great result for the vendor.  

Indeed, the property did sell, much to the delight of the seller as they could move on from the anxiety of trying to sell a property quickly and move on with the next phase of their lives. It’s always genuinely rewarding to be able to help vendors out when they are unsure of how to sell their property quickly and effectively.

Talk to the Property Auction Experts Today

If you are looking to sell your property at auction, speak to our auction experts today. Edward Mellor is a leading property auction house within the north-west 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 26th-27th March 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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