Introducing our 11th September Auction Sale
Welcome to this exciting auction which includes a wide range of lots from a whole host of our motivated sellers. This sale combined with our earlier auctions in the year takes us to well over 2,100 lots already offered in 2023, with the sales value from our previous auctions now at £190 Million.
The mortgage market appears to now be settling and in recent weeks, we have seen lenders decrease rates and clearly, there seems to be a bit of a “battle” in the mortgage market with some great offers available as lenders want to attract more business. All this bodes well for you as a buyer given especially our clients are keen to secure sales and setting their prices accordingly.
In fact, if you find yourself looking at a lot and think the guide is possibly a bit marginal for you, I would recommend pursuing the opportunity and getting yourself ready to bid. In recent months we have found our clients more and more willing to reduce their reserves in the final days before the auction, with some prices even being dropped on the day and it’s now not unusual to find that a significant number of lots are offered with reserves below their guide. If you are at the auction and ready to buy, you could find yourself grabbing a great deal at a price lower than you might have originally thought you may need to pay. In these circumstances, if the gavel doesn’t fall and the lot remains unsold, many deals are concluded on the day and in the days immediately following the auction and, if you are not ready to buy there and then, you could well lose out on a great opportunity.
Turning to the catalogue itself we are delighted to be offering you a great range of property. Whilst our sellers are all of varying types with a range of reasons and motivations to sell, we are excited to be offering lots on behalf of a number of organisations who have asked us to bring these lots to you to bid on. Some of these sellers include: The London Borough of Waltham Forest, Mole Valley District Council, Hertfordshire County Council, Mountview Estates, Over Six Different Housing Associations and Asset Managers selling on behalf of Mortgagees.
For these sellers and others, many of the lots are being offered to the market for the very first time ever or, not previously available for many years. These and other lots offer a unique buying opportunity that can’t be missed and almost certainly, will never be repeated again.
So whether you are looking for your first or next home, a project, an investment or something a little more speculative I feel sure there will be lots of interest in this sale for you.
On the day of the auction, come to the sale yourself. Whilst you can bid remotely online or via telephone these two ways of accessing the auction will never be the same as attending and experiencing the auction for yourself first time. What better position to be in than to see the auctioneer in-person, see who you are bidding against in-person and hopefully go home at the end of the sale saying you went to an auction and bought a lot!
However you engage with the sale don’t forget you are bidding to buy, when our gavel falls a contract is exchanged and if the gavel falls on your bid, you have entered a binding contract, you cannot simply change your mind after the event so. Make sure you are well prepared, carried out all your due diligence and check out our buyers guide on the website. In the meantime and, in the lead up to the auction my teams throughout the country are here to help with all your enquiries.
We look forward to meeting you at The Grand Connaught Rooms on Monday 11th September, it will be a busy and exciting day and we wish you the best of luck with your bidding!
