Posted on 10th August 2016 by Jordan Holmes
Property: Red House, Station Road, Washington, Tyne And Wear
This house was ideal for sale by auction as it was a vacant estate and was being sold by the next of kin in the family. Due to the sad circumstances related to the property, the vendor wanted to achieve a quick sale for the best price. Although it was a difficult property to value, as it was in need of some renovation, a guide price of £250,000 was discussed and agreed with the vendor.
The emotional attachment to the property, made the vendor question the sale at times and showed some hesitance to sell. On one occasion this caused the vendor to miss an opportunity to enter the property into the regional public auction event.
Two open viewings were held which attracted in excess of 60 potential buyers. The vendor’s enthusiasm to show the former home in its best light, put on a spread of tea and Prosecco for visitors - some who had known the previous owner who was apparently a bit of a character and had held many parties in his younger days.
With perseverance, ongoing advice and patience, the property was entered into the following auction with the vendor’s consent and achieved £25,000 above the Starting Bid.
All in all and despite the slight delays, it took 45 days to sell this property, accommodating the vendor’s situation fully.
The vendor was exceptionally happy with the result.