Romans second property auction of the year saw hundreds attend the Conference Centre at Green Park in Reading to witness a varied catalogue of properties and investments being sold. Some exceptional prices were achieved on vacant houses and bungalows requiring refurbishment. 

Speaking after the auction, Simon Clayton, Romans Auctions Director commented, “Despite experiencing several influencing factors, including the Prime Minister signing Article 50 on the day of the sale, we experienced some extraordinary bidding today. It definitely demonstrates that the right lots at the right guide prices are still very attractive to the investment market and particularly owner occupiers.

Sellers who set their prices realistically, sold successfully in the room, many for significantly more than their reserves”.

One of the star lots was a five bedroom detached house in 6 Wallner Way, Wokingham, Berkshire, which requires complete renovation and sold after some extremely competitive bidding for £408,000 from a guide of £340,000. The owner of the house had lived in it from new and, as the property needed a considerable amount of remedial work, was concerned that marketing it via a traditional estate agency route would take several months.

Another of the star lots was 22 Beech Ride, Fleet, Hampshire, a vacant, detached, period two bedroom bungalow requiring complete renovation and standing in mature gardens.

The property was being sold by the owner’s daughter who had been given Power of Attorney to sell on her behalf. The lot had a guide price of £350,000 and after a fierce four way bidding war, the gavel finally fell at a sale price of £390,000. They were delighted with the result, which was achieved in record time. From the point of instruction to the exchange of contracts, took exactly 3 weeks.

Simon Clayton, Auctioneer went on to say, “We have achieved some very encouraging prices, which is reassuring for anyone thinking of selling. We are now inviting entries for our next auction on 17th May and have already received some interesting properties.

Selling by auction can take the stress and anxiety out of the selling process as it is one of the fastest and most effective ways of exchanging contracts quickly”.