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Paul Hayhow Head of New Business |
The Property
This three-storey period townhouse with three bedrooms is situated on a road of terraced properties to the west of Reading town centre. Close to local amenities and walking distance of both Reading West and mainline train stations, it is a popular residential location. Having been rented out for several years by the owners, the property required comprehensive refurbishment and upgrading.
Our Approach
The vendor came to Haslams for advice on whether to invest in renovating the property and continue renting it out, or to sell the property in its existing state. Having reviewed the options, we advised the vendor that selling it by online auction would be the best option for them. This would deliver a quick sale and maximum price by reaching a large audience keen to buy a property suitable for renovation that will deliver them commercial returns. This would deliver the best results for both vendor and buyer in terms of speed and price.
The Results
The bidding was fiercely competitive, with the auction receiving a total of 86 bids, and the final sale price reached £306,000 on its guide price of £200,000.
Individual Bids: 86
Viewings: 26
% Over Guide Price: 41.9%
If you’d like to find out more about whether auctioning your property online could be the right solution for you, I’d be happy to discuss it with you. Email paul.hayhow@haslams.net or call 0118 960 1003.