Already sold! Buyers backing new trend in auction room

first_imgHome » News » Auctions news » Already sold! Buyers backing new trend in auction room previous nextAuctions newsAlready sold! Buyers backing new trend in auction roomSheila Manchester10th June 20192 Comments958 Views The way residential property is sold has changed over the last five years, with online agency, hybrid agency, hubs and even sell-by–owner. However, it is probably the auction process that has been modernised more than any other route to sale.Now a new buying tactic has been reported by Network Auctions. The results of its sale on 6th June show that buyers are buying before auction. Of the auction lots offered in their latest sale, 52% sold prior to auction.“Buyers are keen to make good property purchases and we see this increasing, with strong offers being made before auction. The uncertainty surrounding Brexit has lifted a little and we’ve been much busier in terms of viewings and response – and that converted to positive sales,” says Toby Limbrick, Director, Network Auctions.“Sellers are also more responsive to pre-auction offers – especially when they are above reserve and show the buyer understands the market. Auctions create a momentum to the sales process which is lacking in private treaty, plus you have the certainty of sale – something which every buyer and seller wants more and more.”Sales online, pre sale and ‘in the room’The ballroom sale still attracted keen bidding in the room with highlights including a two-bedroom cottage in Bedfordshire selling for £164,000 (guide of £110,000+), a residential investment of six flats in Wembley selling for £725,000, and a two-bedroom maisonette in Aylesbury achieving 30% more than guide selling at £123,000 against a guide of £95,000.Toby added, “Today we sold a property which had been on the market and had a sale progressing at £139,000. The buyer was procrastinating and so the seller decided to enter it to auction to get closure. We guided it at £110,000+ and after 50 viewings and 29 legal packs downloaded, we sold it for £164,000 after a bidding war including the previous buyer. That’s the result of auction – auction forces people into action.’Network Auctions raised a total of £8,616,500 and achieved a 78% sales success rate.Network Auctions Sheila Manchester Toby Limbrick June 10, 2019The Negotiator2 commentsGuy Charrison, Mr Mr 11th June 2019 at 12:29 pmPaulIn general I agree with your comments; but in the current market we have experienced that we have obtained prices well beyond what we would have expected in the room by doing deals prior; sometimes we have had limited interest and from that by selling prior were able to deliver prices well ahead of the reserve for the seller, and in some cases £60,000 or £70,000 above on lot values of £300,000.I hope you are keeping well and keep knocking the lots down!Best wishesGuyLog in to ReplyPaul Fosh, Paul Fosh Auctions Paul Fosh Auctions 10th June 2019 at 10:48 amIf a property is listed for auction, sellers and auctioneers should have the courage to let the property run to the room. Buyers will always want to purchase outside of the room but it’s up to us as property professionals to muster that pre auction interest and take the property to the room rather than rush into doing deals prior.Log in to ReplyWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more

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MED5 FCU kick-starts community mask initiative

first_img continue reading » CUNA photo A South Dakota credit union CEO has leveraged a single donation into a community effort to provide supplies for frontline workers battling the coronavirus (COVID-19).Pam Brown-Graff was watching the local evening news April 5 when she saw a segment highlighting the need for protective medical masks to protect workers at facilities including Monument Health, a Children’s Miracle Network Hospital in Rapid City, S.D.That evening, Brown-Graff, CEO of $79 million asset MED5 Federal Credit Union in Rapid City, pledged $2,000 on behalf of the credit union to support crafters who were making masks for the local community.“Before we became a community charter, we were a medical credit union, so it really hit home with me,” Brown-Graff says.center_img ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

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Delray Beach Police seek help for annual toy drive

first_imgDelray Beach police say they’ve been collecting hundreds of toys to give to kids, now they’re scrambling to get enough toys in time for Christmas.The annual Christmas toy drive has turned into a sort of Christmas crisis for police.“Once you open it up, you’ll notice you’ll immediately smell mold in here,” police spokesperson Ted White said as he was about to walk inside a metal shipping container.“You can see the presence of a lot of moisture, a lot of mold,” White said.Police say hundreds of toys being stored in a metal shipping container at the police station appear to be ruined, contaminated with mold. The toys were going to be distributed to underprivileged children for Christmas. White says police were not aware until now that the shipping container had leaks.“This is devastating because a lot of these toys were going to help more than 2,200 children in the community,” he said.Mold is clearly visible on some of the boxes. Police say a few new bikes can be saved, but they estimate about 3/4 of the toys will have to be thrown out.The toys came from collection boxes at dozens of local restaurants and businesses. John Goldstein, a retired teacher and school principal who now lives in Delray Beach, says he gave toys to the police toy drive this year. “Luckily, my children never went with a Christmas without toys and I can’t even imagine what it’s like for any child to go through any holiday, Christmas, Hanukkah, Kwanzaa without the joy of toys,” he said.Goldstein says given the situation with the mold and the toys, he’ll try to donate another toy. “I feel that all children should feel the wonder of the holidays,” he said.Police hope people will see this story and drop off toys at the police station or at the more than 60 businesses in Delray that have collection boxes.They plan to start distributing the toys next Thursday.Questions? Call Delray Beach Police at 561-243-7841.last_img read more

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Dolphins Put Up A Fight, But Not Enough To Win In New England

first_imgBy Stephen DienerThere were a lot of new and unusual sights in the 2020 installment of Dolphins vs Patriots as they opened up the season against each other in Foxborough.Fake crowd noise filled the stadium as fans were not allowed in the stands due to covid fears.A new quarterback was under center for the Patriots for the first time in almost 20 years.New England had a starting kicker not named Vinatieri or Gostkowski for the first time since 1996.But, there was one thing that looked all too familiar, a final score that saw the Dolphins on the losing end. This time around, it was a 21-11 final to send the Dolphins to an 0-1 start on the season.Despite tons of resiliency and some flashes of promise from Ryan Fitzpatrick and the offense, Cam Newton and the rest of the Patriots offense just proved to be too much in the end for the Dolphins front 7.Oh, and 3 interceptions from Fitzpatrick that were absolute drive killers didn’t help much either. Is it going to be Tua time for game 2? Perhaps that’s another question for another article.Newton, though, that non Tom Brady QB I spoke of, had 2 rushing td’s and looked well in command of the Josh McDaniels offense for his first game.It wasn’t the result that Dolfans wanted to see, but there was some good to take away going into the home opener next week vs the Buffalo Bills.We’ll see how that one turns out…ulast_img read more

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