One notable residential success story that achieved around 40% over the allotted guide price was a three bedroomed, semi-detached property on Adswood Road in Stockport.
Listed at £120,000, the property eventually sold for £168,500.
Auctioneer Nick Green of Edward Mellor Property Auctions commented:
“The sales values achieved were very strong proving that keenly priced and properly reserved properties can blow the market values away.”
“Residential property sales values remained buoyant and some commercial stock is gaining interest auction by auction with more buyers coming to the table,” says Nick.
“Another great example in the sale was lot 68 – 313 Moston Lane, Manchester. This shop with flat above was in very poor condition and had a guide price of £60,000.
“Two bidders pushed this to £131,500, a whopping 119% over the guide.”
“The property had been valued by two surveyors at £65,000 to £75,000 due to poor condition proving that auction sales can often achieve way over the guide price, something rarely seen through conventional sales techniques.”
“Our next auction is being held at the AJ Bell Stadium, Salford on Wednesday 26th July with dozens of properties from across the North West set to once again go under the hammer,” added Nick.
After developing him property portfolio David had 3 beautiful properties he was ready to sell. Within 1 week of putting the properties up at an Edward Mellor auction, David received countless viewings and potential buyers. In just 6 weeks David had lined up his sellers and received his money in just 9 weeks. David had this to say regarding his experience:
“Incredible business and incredible company! If you want speed of purchase, quick cash flow, efficiently and with a really great bunch of people Edward Mellor is the way to go”.
Having tried and failed to sell his property through traditional estate agents Nati finally decided to try putting his property under the Gavel. With a speedy sale, tighter security and damn good day out Nati has never looked back. Since then, Nati continually sells through Edward Mellor property auctions and has yet to have a bad experience always achieving better results than he would have had through an estate agent. He had this to say about his experience and why he thinks selling through auction is the way forward.
“throughout the whole process I had easy communication with the auctioneers. From my understanding its actually better to sell properties through the auction because you’ve got more cash buyers; people looking to purchase a property right away”.
Nati is always completely satisfied with the amazing service, communication and transparency the Edward Mellor team offer and says he’ll continue to sell through our North West auctions for years to come.
Our next auction is on Wednesday 26th July! Complete our contact form below or give us a call on 0161 443 4740 and a member of our team will be in touch.