One of the capital’s leading auctioneers says that selling homes through estate agents will inevitably become longer and more frustrating because of new Stamp Duty charges.
Last Friday (1 April 2016) saw the introduction of an additional 3% Stamp Duty for anyone owning more than one home – even if this is because they are in the process of selling their property in order to buy another.
Auction House London auctioneer Andrew Binstock said: “The latest tax is a punishing blow for those following the traditional estate agency route to market. The 3% hike in Stamp Duty will kick-in as soon as
Sutton Kersh’s March auction saw 121 lots on sale, another huge auction for Liverpool. Bidding was particularly fierce on some of the city’s landmark public houses and de-commissioned churches.
The Fairfield Arms on Prescot Road in Liverpool, saw a bidding war between buyers, with the property going for £168,000, more than £68,000 over the property’s guide price. Interest was also high in The Cabin public house in Kirkdale, which sold for £50,000, £10,000 above the guide price.
Other unusual properties at auction included Tetlow Church near Stanley Park, a two storey brick and stone building
People buy at auction for lots of reasons. They may want to move quickly or they could be looking for a plot of land to build on, a repossession, or quite simply they want a quick purchase without the risk of gazumping. Also, many buyers looking for investments buy at auction as a catalogue full of properties gives them lots of opportunities to choose from.
Buying a property at auction is both exciting and potentially profitable. It avoids all of the lengthy purchasing procedures that you usually have to endure and the risk of everything falling through at the 11th
Selling property at one of our future auctions will be cost effective, simple, fast and stress free. If you feel that this method of sale might be right for you, why not get the ball rolling and get in touch for a FREE VALUATION via our PROPERTY ENQUIRY FORM.
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 second Acuitus auction of the year saw the sale of £53.32m of commercial property assets and demonstrated the growing use of the auction platform for asset disposal. The full results are available here.
Acuitus auctioneer, Richard Auterac, comments: “Sellers are responding to the certainty and reach of the auction process.
“In the space of less than six weeks at our last two sales, we have achieved for one client alone unconditional sales of more than 40 properties. They have realised that this is a more efficient route to market and, in several instances, have achieved better prices than
Following on from their hugely successful February auction, Clive Emson's March auction achieved a very respectable £19 million from 170 Lots catalogued.
Confidence in the market continues to grow, with many Lots exceeding their published guide prices and investment properties selling well, proving that money invested in ‘bricks and mortar’ is a wise move.
The teams across the southern region are now looking forward to inspecting land and property for theri next five-day auction which is scheduled to take place on the 3rd – 9th May with a catalogue closing date for entries being 4th April.
Leading land agent Aston Mead is calling on local councils to play a greater part in the push to create more affordable homes.
The company’s comments follow a recent analysis of London Land Commission data, which indicates that 93% of brownfield sites in London are owned by local authorities.
Aston Mead Director Adam Hesse said: “The only way to build cheaper homes is to pay less for the land on which they are built. We can’t expect private landowners to reduce their profits by selling land at subsidised prices. So as the largest landowners in the country, it’s the councils which hold the key
The UK’s largest property auctioneer Auction House has just recorded its best ever sales month, beating all previous records in the nine year history of the company.
February 2016 saw the group break its highest ever monthly record on three key performance metrics – offering 600 auction lots, selling 461 of them, and raising nearly £63 million (£62,782,000) in the process.
Commenting on the group’s record achievement, Auction House Founding Director Roger Lake said: “It’s a real milestone to have offered 600 auction lots in a month - a figure that hasn’t been reached by any auctioneer since
Whether you’re a seasoned landlord or someone starting out to build a property portfolio, there are some things you’ve just got to do before making a bid on a property at auction. A key one is for both you and your solicitor to check the legal pack.
All the important legal documents you need to be aware of in relation to the property or land are in one handy pack for you to review before an auction.
The pack is put together by the vendor’s solicitor – so if you intend to sell at an auction this is something you will have to organise to be done in good time before the auction in which your
Propery buyers from outside of the East Midlands are on the lookout for Nottinghamshire auction bargains.
Vejay Pal, senior valuer at Graham Penny Auctions, said: "We found that several of our buyers travelled to the auction room from outside of Nottinghamshire to purchase their new properties earlier this month.
"A number of terraced, semi-detached and detached properties sold well and we're hoping to continue this momentum into our March auction."
He commented: “Our auctions last month saw us enjoy our most successful month in our 10 year history. We achieved some excellent sale prices for
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