We had a great entry in our September auction. 25 The Paddock had been on the market for a period of time with our Hunters branch in York. On the off chance, our auctions team were speaking with a valuer when the vendor for the property walked in to the office.
The auctions team explained about the auction process and signed the vendor up to sell the property in our September auction. The property was in need of modernisation so our targeted marketing to 6,000 investors and developers was the best way to attract a buyer.
We marketed the property in auction at &120,000 - &130,000 and received phenomenal interest with at least 20 people at every viewing. At the auction a price of &166,000 was achieved from a successful bidder, giving the sellers an increased profit of &46,000 on the bottom end of their auction guide price, a fantastic result with a guaranteed completion in 28 days.
Any property requiring modernisation that is at a standstill on the residential market will do well at auction with the right guide price. If a property fits this criteria, the proactive approach offered through Hunters Auctions can offer a very viable alternative to a price reduction and staying on the open market.
For further information about our next auction, to find out about the Hunters Auction process or to arrange a viewing for one of our current properties, please call our Auctions team on 01904 756116. Entries are now being taken for the next Auction in York, 11th December at York Racecourse.