IF YOU"RE LOOKING FOR A SPEEDY SALE and certainty that a buyer won’t bail on you then selling at a property auction is a good way to go. Once the hammer falls the buyer has to put down a 10% deposit, then they have a month to give you the remaining 90%.
Selling at auction also widens the potential market, not only will there be buyers who want to make it their home, there'll also be investors, developers and property dealers interested in buying. In many cases an auction could prove to be the best method for selling your property and not just a last resort.
The Managing Director of the UK’s oldest estate agent recruitment consultancy has called for the Government to give more information about what will happen to European Union employees after Brexit.
His comments follow a recent survey by the British Chambers of Commerce (BCC), which found that two fifths of UK businesses employing staff from the EU say their EU employees have expressed concern about their future residency status following the referendum. Research also found that five per cent of businesses have seen EU employees resign following the Brexit vote, while ten per cent said their EU
Top ten UK auction house SDL Bigwood is to expand its Midlands network with regular Coventry auctions from this autumn.
The Birmingham-based business already holds six a year at Aston Villa FC, but from Wednesday, November 9, will be holding regular auctions in Coventry at The Village Hotel.
SDL Bigwood, with the acquisition of Graham Penny Auctions in the East Midlands earlier this year, is now the largest auction house outside of London and ranked number four in the UK by combined annual turnover.
The combined auction houses now have total annual sales of more than £160 million per annum and
Auction House is reporting a busy and profitable August, with a success rate of 82% - a full five percentage points ahead of 2015’s figure of 77% - and a month which included the sale of the group’s 2,000th property this year.
The award-winning property auctioneer held seven sales across the country during what is traditionally a quiet period for the sector, selling 113 lots from 137 offered, and raising a total of £12m. Cumulative results are also ahead of last year; sales in the first eight months of 2016 totalled 2,044 lots, at a cumulative success rate of 78%, raising over £275m.
According to the latest data from Essential Information Group, the number of lots sold in July auctions was down 13.3 per cent from a year ago, partly due to vendors holding back with 8.7 per cent fewer lots made available for sale.
Residential lots suffered more than commercial, with a 15.3 per cent year-on-year drop in homes changing hands, resulting in sales of £325.5m. Despite the fall, that was still the third-highest amount raised in July during the past 10 years — a period that includes the financial crisis and its aftermath, which auctioneers say brought the market to a virtual
Before the summer break, the commercial property auction sector shook off uncertainty caused by the EU Referendum as the Acuitus July sale exceeded expectations by raising £58m.
Investors targeted a wide range of commercial property as a total of 78 lots sold - 88% of those offered in the sale - with 20 achieving prices of more than £1m.
Acuitus auctioneer, Richard Auterac, comments: “In times of economic uncertainty, the auction room enables investors to access the type of income returns which are not available through other investment media.
Over the past few years, property auctions have become increasingly popular with buyers who want to avoid the traditional house buying chain.
At an auction, the sale is agreed as soon as the hammer falls, so there’s no risk of everything falling through at the eleventh hour. And you see all the other bids as and when they’re made. So there’s no chance of being gazumped and there’s a lot less that the estate agent can hide from you.
There is usually two to three weeks between the publication of the auction catalogue and the auction, so if you've decided you like the look of a property, the
SDL Graham Penny has an unusual lot going under the hammer in its next Nottingham auction.
3 Park Avenue in Kimberley is much like any other auction lot; it is need of modernisation, upgrading and improvement, however this property has the added feature of an air-raid shelter in the garden!
Andrew Parker, auctioneer and managing director, commented: “Most of the properties we sell in the auction room are in need of modernisation and upgrading, however it’s quite unusual for us to have a property with this kind of period feature.
“Many of the bidders who buy at our auctions are looking for
Going under the hammer next week with Scotland's Future Property Auctions, is this rarely available land presented at an attractive guide & reserve price, located minutes from the Queen Elizabeth Forest Park.
The village of Gartocharn lies within the beautiful Loch Lomond & The Trossachs National Park and is probably better known as being the location of Duncryne. Although small, with a population of some 700+, Gartocharn retains many of its original features and rural way of life.
The Loch Lomondside & Stirling areas are experiencing strong housing demand from commuters, second/holiday
SDL Graham Penny, the new name for the most successful auctioneer in the East Midlands, has today launched the catalogue for its next Nottingham auction and it features 35+ lots.
The catalogue, for the auction on Thursday 15th September at Nottingham Racecourse, includes 37 residential property, commercial property and land lots from across Nottinghamshire and the rest of the UK set to sell under the hammer.
Andrew Parker, auctioneer and managing director, commented: “In our next auction we have a wide selection of properties going under the hammer. It shows how the market is improving and how
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