This is a common question we are asked, not only from prospective bidders but also some sellers. And, as they say, wisdom is only knowledge once its shared. The auction team at Clive Emson have provided an overview below that should help shed light on some of those grey areas surrounding the legal pack.
All lots are sold subject to the Common Auction Conditions, essentially a set of standard terms and conditions relating to all land and property being offered. These are enhanced by the Special Conditions of Sale which are unique to each lot being offered and may contain additional non
The appetite from buyers for auction property shows no sign of dimming with sales totalling more than £30m (£30,062,300) for Auction House London in March 2021.
Demand has been so high that auctioneers held two auctions during the month, on 3 and 30 March. Many properties are continuing to sell above the reserve prices agreed by sellers and Auction House London is achieving higher prices than competitors as in the example of this property in New Southgate, London, N11. Last week, this sold for £221,500, just a matter of weeks after it sold with another auctioneer for £180,000 in February
Commercial property was much in demand as Bond Wolfe Auctions set a new record for the UK’s most successful livestreamed auction, raising over £30.23 million in its latest sale on 31 March.
The tone for the day was set when Lot 1, the former Sedgley Police Station (pictured) in the Black Country sold for an impressive £820,000 from a *guide price of £260,000+.
Ian Tudor, managing director of Bond Wolfe Auctions, said: “This auction was also the largest ever held outside of London, with a total of 205 lots sold from 218 offered, representing a success rate of 95%.
“The demand for
Auction House is announcing that the first three months of 2021 have been the best-ever annual first quarter in the 14-year history of the group.
A total of 826 properties were sold between January and March this year, from 1041 offered – a success rate of 79.35%, raising a total of over £128m (£128,427,102). The amount of money raised is almost 40% (38.9%) above the figure raised in the first three months of 2020 (£92,451,493).
It was also the best-ever March for the group, with 371 lots sold from 459 offered – a success rate of 80.83% and a total raised of £63,667,201.
SDL Property Auctions has just completed its most successful March ever, raising more than £28.8 million for sellers – an 184% increase on March 2020.
This impressive figure was raised through a combination of live-streamed Auction Events, Timed Auctions and Buy It Now sales.
By maintaining a continuous service throughout the pandemic and during every level of lockdown, SDL Property Auctions has experienced growth in every area of its business, increasing the number of lots sold by 94% compared to last March and trebling the income for estate agents within its 1,300-strong
If you’re moving house, the first thing to do is finalise your moving date, and then you can start ticking things off your checklist. Use our guide below so you don’t forget anything:
Four weeks before you move house:
- Book a removals company as soon as possible. This will guarantee you get the date and the company you want. Keep in mind that weekend moves are likely to be more expensive.
- Check your home contents insurance policy to see what cover you have regarding moving home. Your removal company may provide this if you are not covered.
- Arrange for parking of the removal van
Selling property at auction is a fantastic way to sell if you’re looking for a speedy, secure and stress-free sale. It also provides both a transparency of sale and high degree of certainty rarely available through private treaty methods, ensuring that your property is sold to a buyer willing to pay the most on the day. The entire process, from instruction to exchange of contracts, can take as little as four to eight weeks.
Properties that are regularly under the hammer include: vacant or tenanted houses and flats, commercial and retail premises, land and development sites, former churches
The second Acuitus multi-asset auction of 2021 raised £22.2m with a success rate of 86%.
The largest lot sold under the hammer was £3.225m for a freehold retail investment with residential development potential in St Ann’s Road, Harrow, London. It produces a current annual rent of £48,000 and was sold at a net initial yield of 1.4% - reflecting the re-letting potential of the retail units and the residential development potential of the remainder.
Acuitus Chairman and auctioneer, Richard Auterac, commented: “This sale featured a number of lots with development potential and these are
Buyers were out in force for the Auction House London sale on 3rd March, with many properties selling well above reserve prices and expectations.
The additional sale date for March was laid on by auctioneers, following high demand from buyers and sellers at the start of 2021. Last week, 55 lots were sold at a success rate of 80%, raising more than £16m pounds (£16,266,300). This property in Abbey Wood, south east London - untouched since its private treaty sale in October 2020, sold at £355,000, considerably more than its selling price last year.
Director and Auctioneer, Andrew Binstock
With staycations the byword for sunseekers this year, competitive bidding is expected for a detached holiday lodge in Cornwall at the next Bond Wolfe Auctions’ online auction on Wednesday 31 March.
The three-bedroomed property at number 20 within the popular at St Tudy, near Bodmin, has an attractive guide price* of £39,000+.
Ron Darlington, consultant director at Bond Wolfe Auctions, said: “We’re expecting huge interest in this full furnished holiday lodge, which comes with a long leasehold.
“Not only does it have its own patio and hot tub, there is