If you were at our May auction you will have witnessed every single one of our lots sell at or above the asking price on the day.
Auctions are ideal for those who want a quick sale and certainty from their buyer. Contracts exchange when the hammer falls and, when it comes to completing quickly and achieving a good price, we have an excellent track record.
Last year 85% of our auction properties which were offered were sold and completed within four weeks. We also saw a large number of lots achieving far more than their guide price – some selling for more than 50% over and above their published guide price.
There is a misconception that auctions are for hard to sell or rundown properties but there are plenty of homes, commercial buildings and plots of land that go to auction because it offers the chance for a quick sale and the money in the seller’s bank within weeks of the sale day.
One of the best performing properties in our May auction was a commercial building in Knaresborough Market Place which sold for £541,000 (guide price £450,000).
A block of six garages in Knaresborough sold for £102,000 (guide price £60,000) and residential properties in Harrogate, Ripon, Knaresborough and Wetherby all achieved or exceeded their asking price. Amongst these was a Grade II Listed detached character cottage in Knaresborough which sold for £195,000 (guide price £180,000) and a former station master’s house in Wormald Green which sold for £325,000 (guide price £320,000).
One of the stars of last year’s Harrogate property auctions was a traditional family house in the popular Saints area of Harrogate. The hammer fell at £405,000, just minutes after he had opened the bidding at £250,000.
Another high performer was a six bedroom property in Mayfield Grove, within easy walking distance of Harrogate town centre, which sold for £300,000 - double the guide price.
People choose to sell at auction for a variety of reasons. The key benefits, says Richard, are:
- Contracts exchange when the hammer falls, avoiding the uncertainty that often comes with selling a property.
- The seller can have the money in their bank within weeks.
- A competitive room and skilled auctioneer can drive up the selling price – in some cases by a very considerable amount.
Here at FSS we have been running local property auctions for many, many years and we really do have a deep understanding of the market. The secret to success is setting a realistic guide price that is attractive to buyers whilst also being acceptable to the seller.
Our next auction is at 3pm on 19th July at Pavilions of Harrogate. To list your property call 01423 501211 as soon as possible as we will shortly be finalising the catalogue.