Property type: Traditional three bed Preston terrace house
Reason for auction: Bankruptcy
Guide price: £60,000
Sold price: £50,000
History of This Auctioned House in Preston England
Sell by auction were contacted by local Preston receivers to liquidate a bankrupt asset. To save on costs the property was sold through auction and the price was lower than advised as at the time we were advised of vacant possession.
However it turned out that the businessman had leased the house to a relative on a 5 year lease at a rent of £1 per day! A lawyer bought the house and hoped to be able to terminate the lease and rent it properly at a market rent.
If you are considering selling your Preston property check out our How to Sell Property at Auction page.
Selling by Auction Has Many Benefits
If you are not a homeowner or property investor who has sold many properties previously, then having a professional at your side will ensure you get the results from the sale without hassles because selling by auction means that you can complete the contract as shortest time possible. Get a free auction appraisal here call us 0800 302 9441 or request a call back by using the form below
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