Homes put into auction sales because they haven’t sold through an agent don’t always end up at rock bottom prices.
Proof of this was in last week’s sale in Leeds by property auctioneer Auction House, where higher prices were achieved on at least two properties which failed to sell at a lower price through local estate agents.
One was a two bedroom period property, Springbrook Cottage in Rawdon, Leeds, (pictured) which had a guide price of between £90,000 and £110,000 and sold for £141,000.
Auctioneer David Pank said: “This was an outstanding result since this house had been on the market previously for a year with another agent, and after 63 viewings got an offer of £130,000, which then fell through. As you can imagine, the owners were delighted.”
It was a similar story for an apartment in Heights Drive in the city. This had been on the market for nine months and attracted one offer of £28,000. At auction this had a guide price of £15,000-£20,000 and sold for £29,000.
The sale at Leeds United Football Club raised £2.167m, with 30 out of 42 lots sold.
Comments
As we all know, two or more bidders bidding against each other at an auction can actually make a property more attractive to the other. For a desirable property, bidding can sometimes get out of hand. A good auctioneer can also have a bearing - if that auctioneer is able to work prospective bidders up to a pitch.