Monthly Archives: February 2018

At auction sales you find many opportunities to purchase the unusual or hard to find properties, especially those with scope to profit by modernisation and repair. It is an attractive way to buy due to the transparency and certainty it offers.

Follow these tips and there is little possibility of falling into any traps.

1. Identify the ideal property and carefully cost any work, research the finished value and set your budget.
2. Check the legal pack yourself with particular attention to the Special Conditions then ask the auction department to explain anything you are unsure of. If happy all is well but do obtain legal advice. Doing it this way will avoid wasted legal fees.
3. Register your interest with the auction department. They will then be able to advise you of any changes in the legal pack and availability.
4. Check the individual procedures for each auctioneer, they may vary in buyers fees and registration to bid procedures and acceptable methods of payment.
5. If you want to offer to buy before the auction, remember that only an offer higher than the seller expects is likely to be considered and high offers prior to the day might push up the final expectation. Be sure you are happy to show your hand. It is usually better to wait and complete on the day.

For Sale by auction on Wednesday 28th March at the Hilton Hotel, Ageas Bowl, Botley Road, West End, Southampton, SO30 3XH.

Guide Price £350,000 + fees* Freehold

An unusual and individual property located in Chilworth, Southampton and whilst in need of up-dating and refurbishment offers an ideal opportunity for prospective purchasers to create their own home in one of the most favoured locations in Southampton.

The accommodation comprises; four bedrooms, the master of which benefits from an en-suite, sitting room, separate dining room, kitchen, conservatory, laundry room, utility and a family bathroom.

Viewing days have been arranged and please call our Southampton Office who are conducting viewings on our behalf on 02380 233288 to book.

For Sale by auction on Wednesday 28th March at the Hilton Hotel, Ageas Bowl, Botley Road, West End, Southampton, SO30 3XH.

Price Guide £150,000 – £175,000 + fees* Freehold

Offered to the market in excellent condition throughout and benefiting from an allocated parking space and vacant possession, this two double bedroom apartment would make an ideal purchase for any first time buyer or buy to let investor. Situated within half a mile of Gunwharf Quays, Portsmouth University and The Clarence Pier, this property is perfectly convenient for enjoying everything Southsea and Portsmouth has to offer.

The property comprises; Entrance hallway, two generous double bedrooms with the master offering an en-suite shower room, a generous lounge/diner, a kitchen breakfast room and a bathroom. Externally, there is allocated parking for one vehicle and the apartment also boasts double glazed uPVC windows and gas central heating.

Viewing days have been arranged and please call our Southsea Office who are conducting viewings on our behalf on 02392 735558 to book

For Sale by auction on Wednesday 28th March at the Hilton Hotel, Ageas Bowl, Botley Road, West End, Southampton, SO30 3XH.

Guide Price £225,000 + fees* Freehold

This three-bedroom detached bungalow requires modernisation, but offers great potential as a family home or investment property

The property benefits from having double glazing and central heating and outside the property backs onto open fields.

Viewing days have been arranged and please call the out Havant who are conducting viewings on our behalf on 02392 486244 to book

On the 7th February it was our first auction of 2018 and it was very encouraging to see well over 100 people in attendance. This resulted in a lot of activity in the room with bidding quite frantic on several of the lots.

Whilst the older style do ups continually prove to be the most attractive opportunities on the day, everything will sell it is only a matter of price.

Clients ask me how the eventual selling prices relate to the published price guides. So for this auction I can tell you that we averaged 18.6% over the guide on those lots that sold. Moneywise this equated to £36,000 per lot which just goes to show that things do not necessarily sell cheap on the day.

If you are considering selling this year and think that auction may be a possibility then please give me a call and we can have a chat.

Steve Sprake, Auctioneer

02380 474274

Before every auction sale we are asked “Can I offer and buy before the auction day”

Well if you have all the finances in place you can always put forward an offer, although many sellers will be hesitant to negotiate as the reason for using an auction is to avoid making a decision on price. If the offer is higher than expected they may sell, although there is a risk that they might refuse the offer if it is less attractive and would still go to the auction anyway.

Properties brought prior to the auction are rarely a bargain. More often than not it’s better to register your interest with the auction department and they will keep you advised if the situation changes.

Our next auction is to be held in the Ageas Suite, Shane Warne Stand, Ageas Bowl, Botley Road, West End, Southampton, SO30 3XH beginning at 11:00am.

Please note the changes below:

Lot 1 – Flat 4 Arnold House, Arnold Road, Southampton. Please note that completion is set for 5 weeks after exchange of contracts.

Lot 2 – Plot 6 Lower Crabbick Lane, Denmead, Waterlooville. The water and drainage search is not being provided by the sellers solicitor, therefore will not be included in the legal pack.

Lot 3 – 18 Titchfield Grange, Fareham, Hampshire. Has been sold prior to the auction.

Lot 6 – 464 London Road, Hilsea, Portsmouth. The property has been withdrawn prior to the auction. Please contact the auction department if you are interested in buying.

We look forward to seeing you tomorrow.