Shared By Glasgow Estate Agents
Property has been sold at auction for many many years, but a new auction-buying tactic is reported by Network Auctions.
The results of its June sale showed that buyers are buying before auction, but 52 per cent sold prior to auction. “Buyers are keen to make good property purchases and we see this increasing, with strong offers being made before auction.
“The uncertainty surrounding Brexit has lifted a little and we’ve been much busier in terms of viewings and response – which converted to positive sales,” said Toby Limbrick, Director, Network Auctions.
“Sellers are also more responsive to pre-auction offers – especially when they are above reserve and show the buyer understands the market.”
The ballroom sale still attracted keen bidding, highlights include a two bedroom cottage in Bedfordshire selling for £164,000 (guide £110,000+) and a two-bedroom maisonette in Aylesbury achieving 30 per cent more than guide selling at £123,000 against a guide of £95,000. Toby added, “Today we sold a property which had been on the market and a sale was in progress at £139,000. The buyer was procrastinating, so the seller decided to enter it to auction to get closure. We guided it at £110,000+ and after 50 viewings and 29 legal packs downloaded, we sold it for £164,000 after a bidding war including the previous buyer.”
Network Auctions raised a total of £8,616,500 with a 78 per cent sales success rate.
The post Network Auctions: buyers backing new trend in auction appeared first on The Negotiator.
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source: The Negotiator
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