A huge welcome to our bidders for our property auction program for 2021 …. ready and tuned in to bid in our first auction of 2021!
A record-breaking 418 people registered to bid, with the first lot opening at 12 pm on 26th January running through to 27th January with a total of 58 lots of residential, land development opportunities, and commercial properties going under the Edward Mellor virtual auction hammer.
57% of the lots available sold at auction, with the auction team generating £4,138,000 in total sales and counting with post-auction sales still coming through. There are a number of remaining properties from January’s auction which are actively being negotiated so if something caught your eye and you didn’t bid at the time, please do get in touch as soon as possible, it could still be available. You can view the full auction results here.
‘Wednesday’s auction was another fantastic milestone for Edward Mellor Auctions and a great way to start the year off for our customers. This was the first auction we’ve conducted in January, as previously the market needed more time to get going Post-Xmas and it certainly didn’t disappoint! We had a record-breaking 418 registered people ready to get their year off to a great start with a new investment!’
‘With so much interest, one of our vendors achieved an incredible 245% of their reserve price! What a result!’
Take a look at a few residential and land investments that had a great result for our vendors.
The Coal Authority had a parcel of land 0.24A (0.10H) to be sold on their behalf. There had been previous issues with a mine shaft collapsing a few years ago, the difficulty was that the shaft was still there. Our auction team considered the best guide should be sensible and the reserve reasonable, from a guide of £70,000 – £80,000. 188 bids later the Coal Authority land was sold for £184,000.
An elderly gentleman had to go into a home due to ill health and his 85-year-old sister was most distressed at having to organise her brother’s estate as his son lives in America. Our auction team was able to take away the stress of selling the property and we put a guide price of £120,000 to £140,000 – 80 bids were received on Dorlan avenue with the virtual hammer taking £183,000 as the final bid. Our vendors are very happy with the outcome.
The auction team was approached by our vendor in November 2019 when his father was in hospital awaiting a place to live in a nursing home. Our vendor had Power of Attorney, we completed a valuation and arranged to put the house on the market. Sadly, the vendor’s father passed away.
Probate took many months to obtain then finally at the end of December 2020, it was granted. Our auction team had kept in close contact with the vendor and we were able to continue with the sale of the property. Since our previous valuation back in November 2019, the property market had further improved and we hoped to achieve in the region of £130,000.
The property had virtual viewing available online, which we received a flurry of offers. From this, we recommended to our vendor to leave the property in the January auction to see what we could achieve for them.
‘Great advice, thank you for everything, I would like to thank everyone on the team. I’ve checked my emails again just in case it was a dream! ‘ commented our vendor as 107 bids later the property sold for £176,500 – so much more than the family was expecting.
The continued success of our online auction just goes to show that despite continued UK wide lockdown, life continues on and the process of buying and selling property is still something that can be achieved.
If you’d like to find out more about selling at a property auction or would like help registering for our next auction on the 17th February, please contact our team on 0161 443 4740 or email [email protected].