Location: Richmond, Surrey
Property type: Middle terrace house
Reason for auction: Divorce with court order
Guide price: £550,000
Sold price: £550,000
This mid terrace house in Richmond was in good condition; a professional couple had rented it for around three years.
Sell By Auction were initially asked to provide a free no obligation opinion ten months earlier for the court pending a messy divorce.
We recommended that vacant possession should be obtained, as the Richmond house would achieve a higher price for if it was empty.
The managing agent was instructed, and the court ordered a sale at a reserve no less than the valuation. This is an important point, as judges in divorce cases will generally take the estimate given as the minimum selling price, which at auction is, of course, the reserve price. This is important to consider and adhere to because getting this wrong, and the property doesn’t sell at auction, you would need to go back to court for a variation of the judgement, undervalue it, and you risk litigation from the defendant, in this case, the aggrieved ex-husband.
This Richmond property attracted fair amount of interest and sold for the reserve to an end family user with a 28-day completion.
For All Your Property Auction Needs in Richmond Surrey
What makes Sell by Auction team your only choice for selling at auction in Richmond is our industry experience coupled with great customer service which goes above and beyond our customers expectations.
For this complicated matter for the vendor who had followed Sell by Auction expert advise throughout the entire selling process. And our experience dealing with all types of situations allowed us to be there for the vendor throughout this challenging divorce case so that the initial objectives are realized with minimum hassle to all parties involved.
For All Enquiries About Property Auctions Richmond
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