Property auctions. What are they all about?
Well, property auctions can be a god way of selling or purchasing a property. It just depends what you have or are looking for and if an auction is suitable for the type of property.
“Property auctions are a good opportunity for buyers and sellers, providing often unusual or keenly sought after properties at a fair price that represent their market value,” said Martin Moore of MMP/NL.
A good example are properties sold at our latest property auction held at Welshpool Livestock Sales at Welshpool in April.
The Chapel in Pantydwr, near Rhayader made £12,000 more than the guide price of £30,000. This was good news for the vendor and for the buyer who obtained a great property for conversion at a very competitive price.
Auctions attract unusual or keenly sought after properties
Such a property might not have realised a price like this through a conventional sale.
Another example was two acres of land near Carno which sold for £82,000 – a whopping £60,000 above the guide price.
“These examples can show how property or land can be realise good prices, providing a good return for the vendors and providing a competitively priced opportunity for buyers,” added Martin.
If you have a property you’d like to sell and believe it would be better to put it in an auction you can discuss it with one of our professional property professionals. Just call your local office.
You can also find out more at www.morrismarshall.co.uk/auctions-