Aerial View of Camborne train station

Property Type: Semi detached

Reason for auction: Mundic Block

Seller: Deceased Estate, family inherited

Guide Price: £75,000

Sale Price: £82,000

History of This Auctioned Property in Cambourne

The property was initially going to be sold by private treaty, but a mundic block survey was undertaken with poor results.

Sell By Auction was called for an initial auction valuation and the Cambourne property inspected within 24 hours.

The family were split with 2 members keen to refurbish the property with plans to re sell it. The plan was flawed as we pointed out that while updating it will make it look nice, the structure was flawed and no lender would lend against it.

We advised to sell it with a partner regional auction, targeting cash buyers and local Landlords. On the day of the sale two parties bid and the property was sold for just over £80,000.

This is not an uncommon problem within the South West, and we are often approached by sellers, more often than not executors of deceased estates, who have either had sales fall through or are made aware at an early stage of the non-traditional construction build Mundic Block. Property Auctions expose the property to a wide audience, and 100% market value is achieved via competitive bidding.

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