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Last week, our auctions team had yet another successful sale of a small field which received an astronomical amount of interest.
The land was located on the edge of the village of Tregadillett. Encompassing a single enclosure with established hedge boundaries, a range of trees and gated access onto the main road, the plot, originally listed for an auction guide of £10,000, received a total of 156 bids from 11 individual bidders resulting in a final sale price of £50,500 (£39,000/acre).
Stags’ property auctions attract a range of property, generate competitive bidding from local and away buyers and allow overall certainty for all parties involved with a simple, timely and straightforward process.
Online buyers register online, they can bid from anywhere and at any time, on holiday or in the comfort of their own home, providing a less pressured environment without the added travel cost and inconvenience of attending an auction room. For Stag’s ‘In The Room’ auctions, like the one on 31st May at Lanhydrock Gold Club, we find that many, more local buyers, prefer to attend the auction and see who they’re bidding against.
For sellers, everything is prepared in advance of the auction. You choose an auction date to suit you, providing complete control and your solicitor provides a legal pack for buyers to review the information before purchasing. Stags’ experienced Valuers and Auctioneers will guide you through the process and advise you about guide prices and reserves. When the reserve price is met and the auction timer hits zero, a legally binding, exchange of contracts takes place immediately, providing absolute certainty for both parties. There is then usually 4 or 6 weeks to complete as usual. Anti-money laundering and identity checks are carried out on all bidders before they place a bid, giving you peace of mind every step of the way.
Properties are marketed in the usual way, taking advantage of Stags’ network, website, property portals and regional and national advertising. In addition, Online Auction properties are marketed via Bamboo, the providers of the online auction platform, which in total results in unrivalled exposure for your property. Where appropriate, Stags can still arrange and accompany viewings in the usual way.
The demand to sell by auction appears to remain strong, as vendors look for certainty in an increasingly uncertain market. Stags are experienced auctioneers who provide both Online and Collective ‘In the Room’ auctions (with a hybrid, online bidding option also offered) across the South West. Over the next 4 weeks, Stags have over twenty lots being offered in Cornwall and the Devon Borders, either in the room at Lanhydrock on Wednesday 31st May at 6pm, (which includes an online bidding facility), or in three Collective Online Auctions on the 7th, 14th and 21st June.
For a full list of properties to be included within the Lanhydrock Auction, CLICK HERE.
If you are considering a sale of your property and would like to know more about the auction process, please either contact your local Stags office https://www.stags.co.uk/branches
or speak with our experienced auctioneer Andrew Ranson on 07834 032248.