Posted on Thursday, May 17, 2018

Successful May auction as properties exceed guide price

Our May property auction was a huge success with all nine lots selling, some for considerably more than the asking price.

One of the best performing was a prominent commercial property in Knaresborough Market Place which sold for £541,000, far exceeding the guide price of £450,000.

Two garage storage lots did extremely well too with a block of nine garages in Ripon selling for £89,000 (guide price £50,000) and six garages in Knaresborough selling for £102,000 (guide price £60,000).

The auction saw one of the widest ranges of residential property lots for some time and all achieved or exceeded their guide price.

A spacious duplex apartment within the grounds of the Linton Spring former country house achieved its guide price of £300,000, securing a quick sale for the vendor.

A Grade II Listed detached character cottage in Knaresborough sold for £195,000 (guide price £180,000) and a former station master’s house in Wormald Green between Harrogate and Ripon sold for £325,000 (guide price £320,000).

Other houses in Killinghall, Knaresborough and Ripon all exceeded their guide price and sold on the day, with contracts exchanging on the fall of the hammer.

FSS has an excellent track record for achieving positive results at auction for commercial, residential, agricultural land and development lots. If the guide price is right, it’s a win-win situation for the seller with no upper limit to the price that can be achieved.

The key benefits of selling at auction are that the sale is binding on the fall of the hammer and the seller can have the money in their bank within weeks, and a competitive environment can see interest from several parties push the price up beyond market expectations. There are no lengthy chains and the whole deal completes very quickly.

Also from a buyer’s perspective they can see the competition and have certainty that the “deal is done” and they cannot be outbid at a later stage.

Our next auction is on July 19th at 3pm at Pavilions of Harrogate. To discuss selling your property at auction contact our auction team on 01423 501211.

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