Property Type: End of terrace
Reason for sale at auction: Buy to let now vacant
Seller: Ex Landlord
Guide Price: £24,000
Sale Price: £37,000
In nearly all cases we recommend to selling clients, keep the tenant in your property, even if they are not paying the rent and you intend to sell. At the very least the property is occupied which keeps the property on standard insurance and at less risk of being targeted, copper stripped or vandalised.
A London based Landlord fed up with large void periods and with poor agent service locally, took advantage of our free valuation. We advised that a selling price of around £30,000 could be achieved and suggested a guide of £25,000.
Local interest was achieved and we advised a reserve price of £27,000. On the day of the auction multiple bidding and a price of £37,000 was achieved, £5000 more than then local agent who suggested a “marketing price” of £32,000 and expect offers and a timescale of around 4 months!!!
Sell By Auction from point of instruction to money in the bank achieved a 5 week sale along with an excellent selling price.
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