The East Yorkshire Property Auction, hosted by iam-sold, had a brilliant auction result at the 25th June auction in Hull.Welcoming over 200 people from across East Yorkshire to the event, the auction maintained its success and successfully sold 88% of lots available.
The total value of the properties sold was £964,500, adding to the consistent conversion rate the auction has been achieving this year of 88%. One of the properties that performed particularly well was 10 Poplar Drive; at a reserve bid of £110,000 the property sold for £116,500.
First time auction buyers, Vicki Cheney and Pete Jones, who purchased two properties on the night were optimistic to begin the process of purchasing properties via the Modern Method of Auction.
Vicki commented on the key benefits she experienced: “It was easier to get viewings for the auction properties than for the usual method of sale, and the speed of completion.” Both are hoping the rest of the buying process will be as straightforward as the rest of their experience so far.
East Yorkshire Property Auction Business Development Manager, Chris Wilson was very happy with the auction result:
“2014 has seen an increased level of activity on the open market, and it is very encouraging to see that the demand for auction, if anything, has increased as it is seen as a viable option for vendors wanting added speed and security in their transaction but also catering for sellers with higher aspirations looking to achieve the best price possible.”