Wow! What a month it has been! We’ve really treated you with not one but TWO incredibly successful property auctions.
On Tuesday our talented team managed to secure an outstanding sale of 27 lots, raising a jaw-dropping £2,331,000! Together with the results from our first auction of the month, this brings our June results to a total sale of 50 lots and a total of £5,100,000 raised. View the full results from our second June Auction here.
Our dedicated auction team have been working incredibly hard to secure sales for our vendors and help our buyers discover their next property, all while quickly adapting to the new way of working.
We couldn’t be happier with what our team have achieved and even more so for our vendors!
“Another superb result! With our highest sales ratio for over 2 years and 434 registered buyers, it’s been by far our busiest online auction. We feel there has been a significant shift in the market and clearly a strong appetite for the lots in general.
As time progresses and lockdown continues we can’t stress enough the importance of our online virtual tours. These have made our properties more accessible than ever, resulting in more buyers bidding. Just take a look at some of the sales from yesterday… Lot 31, in particular, received 136 bids from 24 bidders and sold for £63,500 above guide price! Absolutely outstanding result! We’ve already sold over 59% of the properties available but there are still some great opportunities remaining, and with the current demand levels, we don’t expect these lots to be around for long. Confidence is clearly high in the market, so if you’re considering buying or selling at auction, speak to one of the team on 0161 443 4740.”
We still have a few fantastic properties for sale post-auction, so make sure you take a look. You could bag yourself a bargain!
Let’s take a second look at a few residential and commercial properties that stole the show at our first sale of the month.
When it comes to accepting a pre-auction offer, our team at Edward Mellor Auction have all the expert advice.
The above 2-bedroom mid-terraced property in Bredbury, Stockport, had been occupied by the owner for more than 30 years so it’s understandable that they were a little nervous about the whole process.
Taking this on board, our fantastic team showed great compassion and patience with the client and assisted where they could from start to end.
It was agreed the property would be guided at £75,000 and after receiving a couple of different offers, we managed to secure an offer of £114,500 which our client was absolutely delighted with!
With years of knowledge and experience under our belt, we are the experts when it comes to negotiating the best price for your property.
An excellent buy-to-let investment opportunity, our next star lot is Lot 54, a one-bed flat situated in Stockport town centre.
Previously on the open market, this property had secured a sale of £73,000 however the buyer had decided to try and renegotiate the price to £60,000.
So that’s when the owner came to us.
After discussing their needs and expectations we agreed on a guide price of £59,000 with the aim of achieving £65,000.
On Tuesday after 15 bids from 5 bidders, the gavel fell on a sale price of £71,000 – £6,000 more than what our client had hoped to achieve!
Despite being £2,000 less than what was offered on the open market, our client was more than happy for the secure sale. Once the gavel falls in a property auction there is no more opportunity for negotiation. The buyer can’t renegotiate the price nor can they back out of the sale. This is just one of the many benefits selling your property at auction has over the open market.
Not only that but our client will receive their money in as little as 28 days!
The next property we’d like to talk about is Lot 55, a two-bedroom end-terrace home in Levenshulme.
Previously on the open market with our Levenshulme branch, the property had received loads of interest within a matter of days. After receiving an offer of £124,000, which our client was more than happy to accept, we knew it could achieve more at auction and so advised the client of this.
Entering the auction at a late stage, our team knew they had to work fast in order to maximise interest on this lot to ensure a good price – and they went above and beyond!
The gavel fell on this lot at an unbelievable price of £144,000! Our experienced auction team were instrumental in helping our client achieve £20,000 above what they were originally going to accept and, as you can imagine, they were over the moon!
This is just one of the many benefits of selling your home with Edward Mellor that many of our competitors don’t have. We have years of knowledge and experience when it comes to selling your home on the open market and when to consider auction.
Not only that but as our teams all work so closely together, the transition from open market to auction couldn’t have been smoother for our client. And a smooth sale is at the heart of everything we do.
The final lot we’d like to shed some light on is this 3-bed home in Brinnington, Stockport.
Not often do we get a property that surpasses even our expectations but that property is the one above.
This home was brought to us after the passing of a family member. These are always sensitive cases, but once probate was granted we were able to guide our client through the whole process, taking it one step at a time.
The house had been cleared but was in need of some modernisation so after a discussion with our client it was agreed we would guide this property at £40,000.
Within days the property had received a vast amount of interest and when it came to auction day, after 136 bids from 24 bidders, the gavel finally fell on a price of £103,500!
That is a staggering £63,500 above guide!
Our client couldn’t have been happier with the result and even had this to say – “thanks for yesterday, what a rollercoaster ride that was!”
Although a difficult time for the family, our team helped create a trusting and respectful relationship which helped achieve a swift, hassle-free sale.
— EdwardMellorAuction (@MellorAuction) June 22, 2017
The success of our online auction just goes to show that despite these unpredictable times, life goes on and the process of buying and selling property is still something that can be achieved.