Selling a property by auction

The beneficiaries who had inherited the property were approached by the neighbours with an offer £10,000 over the valuation of £480,000 which had been provided by another agent. After nine months, despite the offer being accepted, the neighbours had still not exchanged contracts.

Romans Auctions agreed a reserve price and, after a hugely successful regional and national marketing campaign, fierce bidding war broke out between the neighbour and several other bidders resulting in a sold price of £680,000 – £200,000 higher than their original estate agents’ valuation!

Despite advice from Romans that the house had serious structural issues, the vendor took the higher valuation from a local estate agent. Nine months later, the house had sold subject to contract three times, and each sale had fallen through before exchange. Frustrated, the vendor came back to Romans Auctions.

Within four weeks, the property had sold at auction and at a higher price than the last previous offer received. This delighted vendor discovered for himself that Romans Auctions can promise a quick and certain sale.

Over an 18 month period, several other estate agencies failed to sell this inherited property - hindered by the estate’s beneficiaries arguing over the asking price.

A Comprehensive, high profile marketing by Romans Auctions generated a huge amount of pre-sale interest, and the property was unconditionally sold for a figure above its guide price. The proceeds of the sale were distributed between all the beneficiaries and the executor was able to wind up the estate for the family.

After having been on the market with an agent for nine months, the owner of this property instructed Romans Auctions.

The property had been undervalued by a professional surveyor who believed the true market value was only £150,000. We believed we could achieve more than this for the owner and marketed the property widely. Pre-sale interest was high and the property subsequently sold for £180,000. The whole process only took eight weeks from start to finish, and all parties involved were delighted.

Despite the rare opportunity presented by this valuable freehold building in the centre of Alton, the property languished on the local property market for 18 months.

Romans' comprehensive marketing created a buzz of interest and at the auction four weeks later, the mixed-use building was successfully sold at its guide price. Very satisfied with the speedy result, the family were able to wind up the estate and distribute the proceeds of the sale to the beneficiaries.

Without any family, when the elderly owner of this detached house could no longer safely look after herself, it fell to the local authority to take her into care.

Appointed to act for her, the local authority were obliged to sell the house and to demonstrate to the owner’s solicitor that they were seeking the best possible price. The local authority consulted Romans, who advised them that the most transparent, certain and speedy method of sale would be via public auction and the house eventually sold for a third above its guide price.

Having lost her husband, the owner of this property neither had the money or energy to renovate her tired home. Another agent advised the owner that she should accept an offer of £190,000, much lower than the asking price they had originally recommended and, the owner reluctantly accepted.

Over five months and another reduced offer of £180,000 later, contracts had yet to be exchanged. Frustrated with the delay, the owner decided to call Romans Auctions for help. The gavel fell at a sale price of £214,000, £34,000 more than their previous offer.