Properties that have gone under the virtual hammer through Fisher German’s Online Auctions platform have hugely exceeded their guide prices after seeing bidders go head to head online. Recently three properties sold through online auction from our Worcester based office all achieved substantial increases on their guide prices.
Fincher’s Farm, in Whitbourne, sold for £611,000 – 27 percent above its guide price of £480,000. The historic Grade II listed farmhouse and barns attracted 56 bids coming not only from local buyers and investors, but also ones from out of the area, with the property being secured by a buyer from London. Woodground Cottage, in Stock Green, sold for £391,000 – 30 percent above the guide price of £300,000. It had a total of 53 bids, with two local bidders battling to purchase the highly sought after rural property set in 0.62 acres of gardens and grounds. A 3.43 acre plot of land by Brooklyn Farm Bungalow, in Kington, sold for £44,000 after 14 bids - a huge 83 percent above its £24,000 guide price.
Associate Director Tom Dennes said that the online auction service enabled the firm to market the Worcestershire properties to potential buyers UK wide. He said: “The Worcestershire property market is hugely popular at the moment, and yet all three properties exceeded expectations. Each of the properties saw multiple people go head to head to achieve an incredible number of bids, and all of the sellers are thrilled with the results.
The online auction format enables us to market properties to potential buyers across the UK and also generates competition, which ultimately helps us to achieve the best price for sellers.Online auctions also offer buyers more transparency, being able to see all the offers made on screen and allowing five minutes to make their next carefully considered bid, something a physical auction room doesn’t offer. All of the legal information being prepared ahead of the auction makes it quicker than traditional methods of sale where often three to four months elapse between an offer being accepted and exchange.This has resulted in the platform becoming an increasingly popular choice for both buyers and sellers. Its results mean we are now rolling it out into the commercial sphere where we expect even more success for clients.”
Take a look at what’s currently available through our Online Auction service here. If you’re interested in selling a plot or property through online auction, get in touch with your local Fisher German office for more information.