Our latest Spring property auction, hosted at the Haynes Motor Museum near Yeovil on Tuesday 26 April, sold £340,000 worth of property from three lots - a great success! We'd like to thank everyone that made an appearance and took part in the auction.
Lot one was Wingfield, a three bedroom detached bungalow that requires modernisation. It exceeded its guide price of £150,000 by 10 per cent selling for £165,000. The property was expected to meet or exceed its guide price due to its good location, surrounded by countryside but also well located to benefit from good transport links to neighbouring villages and larger centres like Yeovil and Sherborne.
With lots two and three withdrawn, lot four was the success story of the day. The guide price for the well-placed pasture paddock of just over five acres with a small area of young amenity woodland was £60,000. Competition between two bidders in particular led to the hammer coming down at £91,000, 52 per cent above guide price.
Lot five, a former social club, also sold well in excess of its guide price of £60,000, achieving a final price of £84,000 with competitive bids from three prospective buyers.
Charles Lucas, Director and Auctioneer at Humberts, commented: “We had a full room and all the lots available on the day sold in excess of their guide price which is a wonderful result for our Spring auction.
“Auctions are an excellent way to buy a property. Contracts are signed on the day and completion is guaranteed in 28 days, providing a level of certainty that appeals to many buyers in today’s market. The reputation of auctions has changed – properties for sale at auction are no longer seen as a desperation sale but rather now it is seen as a tried and tested method of sale and we are delighted to welcome new audiences as a result.”
Our next property auction will take place in Autumn 2016. For more information, please contact your local Humberts office.