The latest residential auction sale held by Allsop delivered an 85% success rate and raised the most money the firm has achieved for a year.
Out of 303 lots, 256 sold. Like most of Allsop’s recent residential sales, 50% of the lots catalogued were distressed properties.
In October, Allsop was responsible for generating over 35% by value of all UK property auction sales.
Auctioneer and partner Gary Murphy said: “This sale was a very different experience to that of September. From the start, bidding was confident and fluid.
“I think a major reason for this success was the quality of stock in the catalogue. There was a great selection of really interesting property, a lot of it introduced by our expanding insolvency team. Many of these were larger value lots which presented exciting opportunities to buyers with an appetite for a challenge.
“The room was populated by serious buyers with cash to invest.”
Half of auction lots are repossessions
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Comments
Why YOU of course!
Proof, if needed, that eventually ALL come to see the world through my eyes ;0)
With a bit of luck, all the HPC clan will follow suit, start buying and then we'll all be happier!
Except happyrenter. He/she/prefer-not-to-disclose is beyond even MY help... ;0P
Peebee we seem to be agreeing all the time now, who has changed!?
Excerpt from a post on a.n.other website, made by a self-proclaimed 'property dealer': "...and thank God for the difficulty of buying at auction, otherwise dealers like myself would not get the discounts we live on."
'Nuff said, methinks...
Brian: I have been saying this for years! The '90s were bad enough - and in response the Mortgage Code was adopted/amended to allegedly ensure that best price was always achieved on behalf of the defaulting borrower.
Yeah, right it is...!
Pitty the poor borrowers, so undersold and left with a bigger debt than if sold correctly. There must be a whole new industry waiting, sue Lenders for under selling at these auction houses, now theres a plan!