Detached bungalow in Lincoln
Vendor: National builder (Part exchange)
A national house builder took a two years old bungalow in Lincoln as a part exchange. After three weeks of marketing, there was little interest. Some new bungalows on the site were still available.
In line with company policy, Sell By Auction was instructed to sell.
It was reserved higher than our recommendations and failed to sell. A post-auction sale was agreed. The buyer required a mortgage.
It is a misconception that property auctions are a sale of last resort. While most houses do need work, in this sale the property was in turn-key condition.
Lincoln Property Auction Difference
Lincoln is a vibrant city, with a major university. This has attracted both investor Landlords and parents of students looking for accommodation during their children complete their education. With the introduction of tax changes on buy to lets, we are seeing these types of properties being offered for auctioning.
Sell by Auction can provide professional advise for all sellers looking to get better returns for their properties, we provide free auction appraisal and can discuss with you the options for how best to sell your property. Simply call us on 0800 302 9441 or request a prompt callback by filling out your basic details below.
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