The Under the Hammer column with FSS Property
The FSS May auction was an opportunity for property owners to secure a quick sale at a time when reports from estate agents across the UK suggest that homes are typically taking a little longer to sell than they have in the past few years.
Although the Harrogate district has not been affected as much as other parts of the country, nationally the average time between going to market and securing a sale is increasing.
Auctioneer Richard Smailes said sellers were using the auction room as a way of securing a quick sale and certainty.
Richard said: “A property can go on the market 4 to 6 weeks before the auction date and contracts will exchange the moment my hammer falls to seal the deal.
“In the current climate, property owners like that certainty and know that they can have the money in their bank within weeks of the auction.”
The May auction saw the successful sale of a two bedroom bungalow in a peaceful cul-de-sac in Knaresborough within walking distance of the town. The property, which was in need of modernisation, sold on the day for the guide price of £170,000.
A partially renovated apartment on East Parade in the centre of Harrogate exceeded the guide price of £125,000, selling at auction for £145,000. The property had already been stripped out and had first fix wiring installed and proved to be an attractive investment project.
Another town centre apartment, this time in Knaresborough, also achieved its guide price of £70,000 and a brick built terrace property within walking distance of Ripon city centre sold for the guide price of £130,000.
A property on Electric Avenue was sold post auction and a sale has also since been agreed on another of the May auction lots, a large period family home in Tockwith.
Richard urged anyone wanting to discuss the possibility of listing their property at the July auction to contact him as soon as possible.
He said: “Recently we have seen quite a variety of properties coming to market via auction, including homes that are ready to move into as well as investment buys and refurbishment projects.
“If property owners are thinking about selling at our July auction I recommend that they get in touch now so that we have plenty of time to conduct viewings and generate interest before the sale day.
“Some of our auction properties are even being sold prior to auction which is another good reason for contacting us early.”
The next FSS property auction will be on Thursday July 18 at Pavilions of Harrogate starting at 3pm. Auctions will also be held on October 3 and December 5. To discuss listing your land or property (commercial and residential) call FSS on 01423 501211.