Selling an Empty or Unmodernised Property at Auction

Selling an empty unmodernised property?

Over the last 40 years, we have sold more unmodernised houses by auction than anyone else in the region, with properties varying between small inner-city terrace houses to historic country mansions. This is our speciality, it’s what we know best and we are motivated to achieve success by exposing your property to the right market – builders, developers, investors and cash buyers, many of who see our auctions as the likely source of their next "project".

A sale by auction, whether it be the traditional or online method, has distinct advantages when compared to a sale through an estate agent. We are convinced for the right property, there is a much higher chance of achieving a better price, as well as a legally binding contract, a 10% non-refundable deposit and firm completion date. There is no pulling out or renegotiating the price at the last minute or prolonged sales dependent on chains, surveys, mortgages, or solicitors.The auction world is not “Subject to Contract” and leads to a swift efficient conclusion in a highly competitive environment.

We understand what is involved in dealing with the sale of properties on behalf of Executors, Trustees, Charities, Local Authorities and Landlords. There is a need for accountability, a well-publicised marketing programme and demonstration that the best price has been achieved. The auction process, for the right type of property, fulfils these requirements and takes away the prospects of a long and drawn-out disposal.

Not all properties are suitable to be sold in this way, but we will advise you and provide professional guidance in what we consider to be in your best interests. A totally or partially unmodernised house is perfect for auction in that the extent of the work required may make it unsuitable for the private market. On the other hand, some houses are considered “too good” and unless there is a need for speed or the property is in a high demand area, can be more suited to a traditional route through an agent.

If you are dealing with a house in need of improvement and would like to find out more about our services, please contact Adrian Little FRICS FNAVA, Senior Partner and Auctioneer, Mark Jenkinson & Son - adrian@markjenkinson.co.uk

Our services for dealing with unmodernised houses – particularly those connected to a deceased estate – go beyond what is offered by a high street estate agent:

  • The initial inspection will be carried out by a Chartered Surveyor with considerable experience in dealing with all types of properties and the associated problems
  • Where necessary, formal valuation reports or marketing appraisals can be provided for Inheritance and Capital Gains Tax, Trust purposes or Charity Act disposals.
  • We can arrange clearance of contents and any urgent work, with the costs usually coming out of the sale proceeds. We can also do regular inspections for insurance purposes and arrange final meter readings on request.
  • We will deal with solicitors in the preparation of the legal pack. This will be uploaded to our website in order that we can monitor interest and provide you with an accurate assessment of the response.
  • Marketing will include Rightmove, the EIG national auction database and our own extensive lists of regular developers and investors
  • We will advise you regarding the initial public guide price and nearer the time, the confidential reserve price, representing the lowest amount you are prepared to allow the property to be sold for.
  • Our approach leads to a far speedier sale resulting in a legally binding contract at a competitive figure and avoids the delays associated with Private Treaty sales through an agent.

A few of the results achieved at auction so far this year...

 

june 2020 lot 10

JUNE AUCTION - Lot 3
Guide Price £275,000*
SOLD £302,500

june 2020 lot 8

JUNE AUCTION - Lot 8
Guide Price £225,000*
SOLD £261,500

june 2020 lot 3

JUNE AUCTION - Lot 10
Guide Price £78,000*
SOLD £96,500

april 2020 lot 3

APRIL AUCTION - Lot 3
Guide Price £38,000 plus*
SOLD £61,500

april 2020 lot 22

APRIL AUCTION - Lot 22
Guide Price £25,000*
SOLD £47,250

feb 2020 lot 2

FEBRUARY AUCTION - Lot 2
Guide Price £95,000*
SOLD £152,000

feb 2020 lot 8

FEBRUARY AUCTION - Lot 8
Guide Price £60,000-£70,000*
SOLD £100,000

feb 2020 lot 8

FEBRUARY AUCTION - Lot 26
Guide Price £250,000*
SOLD £330,000

feb 2020 lot 29

FEBRUARY AUCTION - Lot 29
Guide Price £350,000*
SOLD £445,000

jan 2020 lot 4

JANUARY AUCTION - Lot 4
Guide Price £75,000 plus*
SOLD £111,000

jan 2020 lot 12

JANUARY AUCTION - Lot 12
Guide Price £45,000*
SOLD £68,500

jan 2020 lot 23

JANUARY AUCTION - Lot 23
Guide Price £125,000 plus*
SOLD £165,000

 

If you are dealing with a house in need of improvement and would like to find out more about our services, please contact Adrian Little FRICS FNAVA, Senior Partner and Auctioneer, Mark Jenkinson & Son - adrian@markjenkinson.co.uk

Latest News