Member Article

Everyone’s a winner at West Midlands property auction

A fantastic start for the first West Midlands Property Auction of 2015, with a record number of attendees and a fantastic result of 34 of 36 properties sold at the live event.

The auction, which recently moved to the Wolverhampton Wanderers Football Club, Molineux Stadium, had a record breaking 250 attendees at the live event on 4th February. 94% of properties available were sold, the highest percentage since the auction launched in July 2013, raising a total capital value of £3,400,000.

These fantastic results only demonstrate the success and popularity of the West Midlands Property Auction and the modern auction method. Unlike the stereotypical, ‘traditional’ auction, iam-sold and their partner agents use a unique method that allows anyone looking to buy or sell property to try auction. Their unique method allows anyone looking to buy or sell property on the market to try auction; you don’t have to be an investor. With intelligent marketing techniques to provide properties with the right exposure thus increasing interest and viewings, as well as fixed timescales to exchange and complete the sale, their modern auction method aims to always achieve fair market value for a property, whilst giving buyers the flexibility to purchase with whichever method is best for them; did you know you can buy a property with a mortgage with iam-sold’s modern method?

Happy buyer, happy seller

One property that received significant attention at the recent event achieved £23,000 over its starting price. 89 Canterbury Road in Wolverhampton, a property for sale through Skitts Estate Agents (a partner agent of iam-sold), had over 53 viewings in the lead up to the live auction event on the 4th February. The semi-detached property entered the auction room with a starting bid of £85,000 and sold for £108,000. The buyer’s intentions for the property were to develop and renovate it, with the opportunity to resell in the future. A great find for the buyers, who were delighted to have won the final bid and successfully purchased the property.

Julian Lavender, business development manager for the West Midlands Property Auction was incredibly pleased with the first result of 2015:

“We’ve had a great start to the year, with record attendance and record percentage sold. The new venue and new auctioneer has further improved the West Midlands Property Auction, and with the busiest auction calendar in 2015, we expect this event to go from strength to strength.”

One property that didn’t make it to the auction room on 4th February but will be available on 18th March is a Grade II listed 18th century house near Hinstock. Fox House, a 4 bedroom property for sale through Barbers Estate Agents offers 2.5 acres of land and a property with all original features. Already generating volumes of interest, the property has a current starting bid of £225,000 and has had a succession of viewings from potential buyers. More information about Fox House can be found on the West Midlands Property Auction website.

For more information, contact Leanne Radford at leanne.radford@iam-sold.co.uk

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