flat for Auction in Ribbleton

Property type: One bed ex housing association flat in Ribbleton

Reason for auction: Extortionate management company fees

Guide price: £10,000

Sold price: £22,000

History of This Auctioned Ex-Housing in Ribbleton England

The vendor had been made redundant and could not afford the sky high management company fees, ground rent, block insurance and service charges.

He had tried to sell via local Ribbleton estate agents but no buyers could get a mortgage on the flat as it was non standard construction.

The owner tried to rent it out but a restriction in the lease prevented sub letting.

This resulted in the property being sold at auction, and our industry expertise has achieve the full market value which the seller was very happy about.

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