Another successful Auction held by FSS on 7th December, proved the market is still very much alive and there are plenty purchasers out there willing to pay significantly in excess of the published guide prices to secure residential property.
Senior Partner Simon Croft commented “3 Harrogate properties in particular highlighted the demand, with multiple registered buyers all competing to purchase the same property. 29 The Avenue Starbeck with a guide of 170,000 achieved 196,250, 15.44% above the guide price, an investment property on Dragon Parade delivering a gross yield of 8.14%, based on the guide price of 420,000, soared to 476,000 and the 39 Mayfield Grove property, in need of extensive modernisation and repair, with a guide price of 135,000, smashed all expectations to sell for 166,750 some 23.5% above our guide price!”
Auction is the perfect means to dispose of property swiftly and efficiently and contrary to general perception, if selling at auction you do not have to ‘give the property away’. Following FSS’s 7th December auction contracts were immediately exchanged, a 10% deposit paid and completion of the sales will take place at the beginning of January.
Simon Croft added, “we have a fabulous team here at FSS, Richard Smailes, as auctioneer, teases every last pound out of our buyers, vendors therefore can be sure that the price achieved on the day is an absolute true reflection of what the properties are worth at that moment in time – very important if you are acting for an Estate or dealing with an allocation of funds to family benefactors.”
Simon reflected, “we had 3 very happy purchasers on the day, but we had a twenty or so more ready willing and able buyers with cash available who were disappointed not to be able to make a purchase. We would love to talk to you if you have a property you are struggling to sell and advise how auction could be the answer. Our next auction is on the 15th February, with another on the 14th March 2024, if you talk to us by the beginning of January we can comfortably include your property in the next sale”
FSS have proven again the sales market is very much alive and they would love to discuss options for your property with no obligation.