Member Article

Only Way is Up with Midlands Property Auction

iam-sold’s Midlands-based auction have upped the ante at their first live event of 2015, with 61% more properties available for sale in comparison with the February 2014 event, with their modern, alternative route to selling.

The auction that took place on the 25th February at the new venue of the Nottingham Racecourse, sold £2,385,000 worth of properties, attracting buyers to the event and creating a huge buzz of interest for the properties available.

Not your stereotypical auction

iam-sold’s auctions are not what necessarily what you would expect; unlike a traditional auction, they provide more flexibility and freedom for buyers, allowing anyone to buy an auction property, not just investors or cash purchasers. This auction method provides the opportunity to purchase with a mortgage, which is often the most agreeable option for the buyer, and still gives them the opportunity to view the property to decide if it is right for them. Not only this, but the benefits of fixed timescales to exchange and complete, as well as a reserve price set by the seller, offers better security for both parties involved in the sale.

This method was the right option for the seller of a property on Loscoe-Denby Lane in Heanor, Derbyshire. The 3 bedroom detached house was marketed using intelligent techniques to give the property the publicity it needed, which in turn generated 23 viewings. With many desirable features including large gardens and an ideal project for someone interested in giving the house a new lease of life, the property had no issues with selling, with a starting bid of £89,950 and later selling for £107,000. This was also a great route for many other sellers, with 79% of properties selling that evening.

Jason Lee, business development manager for The Midlands Property Auction commented:

“With bidding in the room, by proxy, telephone and online 24/7, our latest auction saw tremendous interest created and demonstrated the benefits of local estate agents working with us. As an award winning national auction house, we attract both local and further afield buyers and it is clearly demonstrated by the results on the night.”

Jason continued:

“Working with some of the best estate agents across region enables us to have our finger on the pulse of the Midlands property price market, this helps us achieve fantastic ‘hammer’ prices with some of the sale results being higher than the properties had been previously offered through the open market.”

Ben Brain of Derby-based estate agent Hannells was very pleased with the results and quoted:

“There were a number of notable successes from the Derby area in which we sold 100% of those on offer which not only pleased us as a company but also our happy sellers.”

iam-sold are now preparing for their next event on the 22nd April and urge anyone looking to sell at the next live event to get in touch on 0115 8559 731 or by email enquiries@iam-sold.co.uk

For all other enquiries, please contact Leanne Radford on 0845 5193 126 or Leanne.radford@iam-sold.co.uk

This was posted in Bdaily's Members' News section by IAM Sold .