Posted on Wednesday, October 4, 2017
Variety was the name of the game at FSS’s September property auction and the huge range of lots meant it was by far the busiest sale of the year so far.
The packed room was no surprise to auctioneer Richard Smailes and his team, who had been busy showing potential bidders around the properties ahead of the big day.
“We knew it was going to be an exciting auction because of the number of enquiries, viewings and bidding forms that had been requested,” said Richard. “This information and the conversations we have with interested parties in the weeks leading up to an auction always give us a good idea of how things might go and I contact the vendors a few days before the sale to put them in the picture.”
Even with all that knowledge, nobody could have predicted just how high the bidding would go for one of the auction’s prime properties, a detached family home in Wayside Avenue, Harrogate, close to St Aidan’s School.
With a large garden and garage, there was plenty of potential here for extending or redeveloping the existing property, and the bidders realised that too.
Richard opened bidding at £250,000 and it quickly rose to £330,000, driven partly by bidders in the room and by proxy bids submitted through our staff. Just as it seemed a result would be achieved, a new bidder reignited the room and the price steadily crept up.
Finally, having edged up in £2,000, £1,000 and then £500 increments, the hammer fell at £405,000.
Richard said: “The atmosphere in the room was fantastic and the bidding demonstrated just how the competitive environment of an auction room can help push the price up.
“What’s even better is that the vendors know the deal is done when the hammer falls, contracts are exchanged there and then and they know on the day when they are going to complete.”
Family homes proved popular across the board at this auction. A three bedroom detached house in Killinghall sold for £277,000, while in Bramham, a three bedroom semi went for £140,000, from a guide price of £120,000.
Other lots included plots of land with planning permission for homes, a commercial unit with parking, and a stunning seven bedroom house in a rural North Yorkshire village.
The room was filled with people, including developers, seasoned investors, builders, first-time buyers and those looking to enter the buy-to-let market.
Sell your property at the next FSS auction
Auctions are suitable for all sorts of properties, from family homes to commercial premises and building plots. They don’t have to be hard to sell or run down. Auctions can help vendors achieve the best possible price with contracts exchanging on the day and completion generally within four weeks. If you have a property or piece of land that you’d like to sell at auction contact us now to list it in our December auction. Call our auction team on 01423 501211 or email Richard.email@example.com
NEXT PROPERTY AUCTION - Thursday 7th December at 3pm, Pavilions of Harrogate.