Sheldon Bosley Knight’s (SBK) auction team is celebrating after agreeing two sales through its online auction process, both of which will complete within 56 days.
Both sales show how auctions can benefit those wanting a speedy and secure transaction.
The first was 56 Port Street in Evesham which was listed at £110,000 on January 26. Exchange of contracts was agreed on February 27, 32 days (22 working days) after listing.
It was sold to a developer who made a pre-auction offer of £143,000 which the seller accepted and competition is set for March 27. This means going from instruction to competition in just over two months.
The second sale is Newbold Place in Wellesbourne. It had a guide price of £210,000 at our new Online Conditional Auction and after 11 bids from eight registered bidders, sold at £233,250. The reservation fee has been paid and exchange and completion will take place within 56 days.
SBK’s head of auctions, Matt Burrows said: “This was our first online auction to be sold under Conditional Auction Terms. We have a delighted seller, who can relax knowing the buyer has paid a non-refundable reservation fee for the transaction, and a delighted buyer who knows the seller can’t sell to anyone else, and they will get their keys far quicker than through the open market.
“It’s a fantastic route of sale for anyone wanting to have speed and security, but still wants to include buyers who are taking out a traditional residential mortgage.
“The success of the auction shows the demand for sellers wanting to achieve a fast and secure sale and buyers keen to secure a property immediately and get their keys within a matter of weeks.
“For sellers who are keen to achieve a sale on their property or land without the risk of a buyer pulling out and not having to wait many months for the sales progression, an auction can prove ideal.
“If you are interested in finding out how we can help sell your land or property at our next auction please call our team or visit our website for more details.”
Elsewhere an impressive £611,500 was raised from just four other lots at the February sale.
Land and a buy-to-let investment property were among the gems featured in the sale which took place at Chipping Norton Town Hall on Tuesday, February 21.
The buy-to-let investment property at 20 St George’s Road, Leamington sold pre-auction for £55,000 over guide price, land at Station Road, Offenham sold for a whopping £44,500 over the £38,000 guide price, and land at Compton Scorpion, Darlingscott, Shipston-on-Stour sold for £226,000, £64,000 over guide price.
Future sales will take place both online and in person at least every quarter with the next one due on Tuesday, May 23, 2023. For further information please contact Matt Burrows, head of auctions, on 07546 689560.