Member Article

Spring has sprung for West Yorkshire Property Auction

iam-sold’s West Yorkshire Property Auction and their partner agents have consolidated a great start to the year with another fantastic result from their latest auction.

The overall auction hit a sales conversion rate of 78% with a highlight of one property selling for in excess of 54% or £24,550 over the starting price! The Modern Method of Auction allows additional time to complete the purchase which opens up the option to a wider range of buyers. This has resulted in a much greater interest in auctions as a real alternative when selling or buying property.

Tom Bailey, auction director for the iam-sold’s auctions said: “We are really pleased with the level of viewings and bids we receive on the properties we sell. This is down to the hard work our partner agents and Auction Department put in when generating interest in each property. There is a perception that only poor, run down properties sell at auction – we sell a wide range of properties from right across the spectrum as more and more people understand the way our Modern Method of Auction Works.”

The auction success is a result of great service, the right marketing, motivated sellers and buyers wanting to complete the sale quickly. The Modern Method of Auction is also known as a conditional auction: After the acceptance of an offer or at the close of the auction, the buyer must place a non-refundable reservation fee or deposit to secure the property. Whether you are required to pay a reservation fee or deposit can vary from property to property depending on the instruction from the seller - this will be clearly stated in the terms and conditions assigned to each property. The buyer is then given 28 days to exchange contracts and a further 28 days to complete the purchase. Most buyers prefer to buy through the Modern Method of Auction as the extra time provides greater flexibility.

The West Yorkshire Property Auction has a further six auctions in 2015 – the next live event will be on Thursday 23rd April at The Cedar Court Hotel, Bradford. To register your interest or for more information, contact The Auction Department on 01274 649 684 or visit http://www.westyorkshirepropertyauction.co.uk/

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