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SarahBell

Auctions Not Working

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Last one I watched (online) had plenty of unsold. Plenty of unrealistic guide prices to tempt people in but reserves set too high. Not done the calcs off Edward Mellors

Seems like Allsops isn't working well either:

The following Lots were withdrawn from our most recent auction. We are now instructed to offer each Lot for sale post auction. Best and final unconditional offers to be sent in writing to theman @ allsop.co.uk by 5pm on Monday 9th August for exchange of contracts on Tuesday 10th August.

Please note the following amendments to the AUCTION CONDUCT CONDITIONS:

1. In condition A5.1 the words "(normally on the fall of the hammer)" shall be deleted.

2. In condition A5.3 the words "leaving" shall be deleted and replaced with "the end of".

3. In condition A6.2 the words "attending" shall be deleted and replaced with "entering into".

Click on lot number for full details and to download the legal documents.

Lot 8 - London NW2

A Freehold End of Terrace Building internally arranged to provide Two Self-Contained Flats and a Residential Unit. The property is subject to Two Assured Shorthold Tenancies and a Tenancy on Terms Unknown.

Total Current Rent Reserved £22,364 per annum from 2 Flats.

Lot 16 - London NW8

A Leasehold Self-Contained Two Bedroom Purpose Built First Floor Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved £25,740 per annum.

Lot 55 - London NW10

A Leasehold Self-Contained Two Bedroom Ground Floor Purpose Built Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved£17,680 per annum.

Lot 80 - London NW10

A Freehold Four Bedroom Mid Terrace House subject to a Tenancy.

Current Rent Reserved £24,700 per annum.

Lot 97 - London W9

A Freehold End of Terrace Four Bedroom House.

Vacant.

Lot 139 - London NW8

A Leasehold Self-Contained Three Bedroom Purpose Built Fifth Floor Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved £24,700 per annum.

Lot 145 - London W2

A Leasehold Self-Contained Ground, First and Second Floor Maisonette providing Three Bedrooms subject to a Tenancy.

Current Gross Rent Reserved £28,611.44 per annum.

Lot 159 - London NW6

A Leasehold Self-Contained Two Bedroom Purpose Built Ground Floor Flat subject to a Tenancy on terms unknown.

Lot 160 - London W10

A Leasehold Self-Contained One Bedroom First Floor Purpose Built Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved£12,240 per annum.

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I received this somewhat confusing e-mail today. It seems they're running out of distressed stock to flog off...

Choices Estate Agency

Brand New Property Urgently Required

If you are a developer and need to make some fast sales we want to hear from you now

Please note that we also pay generous introductory fees to third parties. Please complete our developers enquiry form and we will be in touch.

Since the beginning of the credit crunch new building has declined to an all time low. As a result brand new residential stock which stacks up as an investment has become more and more difficult to find.

The law of supply and demand says that as supply dwindles, prices rise so we could very well be on the brink of significant price rises in the brand new sector.

Please complete our enquiry form if you wish to be kept informed about distressed new stock as it becomes available.

Kind regards

Choices Property Acquisitions and Investments

01342 840000

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Where abouts/how do you watch online auctions?

You click on the links on the auction sites

The Edward Mellor one is all property around Manchester - you only see the photo and the bids go up (or not) - you can listen for a hefty fee.

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I was contacted recently by Fisher German after an auction - I had downloaded details of one of their properties (I think it was out of about 10 in the auction). It hadn't sold, and they were looking for buyers. However, price that they were looking for were not significantly down from the guide price - personally I would have thought that not selling at auction may have been a hint that the guide/reserve was too high.

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You click on the links on the auction sites

The Edward Mellor one is all property around Manchester - you only see the photo and the bids go up (or not) - you can listen for a hefty fee.

What, you mean I have to google it for myself?!

Anyone know of any in the SE I can watch?

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What, you mean I have to google it for myself?!

Anyone know of any in the SE I can watch?

Look for auction listings appear in your rightmove searches and then go look up their websites.

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Here you are, you lazy fecker.

Auctions link

You can 'watch' their auctions in real time.

Brilliant thanks very much! It's no so much that I'm lazy it's just that I'm at work on the iPhone and googling things can be a laborious task whithout wifi.

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Last one I watched (online) had plenty of unsold. Plenty of unrealistic guide prices to tempt people in but reserves set too high. Not done the calcs off Edward Mellors

Seems like Allsops isn't working well either:

The following Lots were withdrawn from our most recent auction. We are now instructed to offer each Lot for sale post auction. Best and final unconditional offers to be sent in writing to theman @ allsop.co.uk by 5pm on Monday 9th August for exchange of contracts on Tuesday 10th August.

Please note the following amendments to the AUCTION CONDUCT CONDITIONS:

1. In condition A5.1 the words "(normally on the fall of the hammer)" shall be deleted.

2. In condition A5.3 the words "leaving" shall be deleted and replaced with "the end of".

3. In condition A6.2 the words "attending" shall be deleted and replaced with "entering into".

Click on lot number for full details and to download the legal documents.

Lot 8 - London NW2

A Freehold End of Terrace Building internally arranged to provide Two Self-Contained Flats and a Residential Unit. The property is subject to Two Assured Shorthold Tenancies and a Tenancy on Terms Unknown.

Total Current Rent Reserved £22,364 per annum from 2 Flats.

Lot 16 - London NW8

A Leasehold Self-Contained Two Bedroom Purpose Built First Floor Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved £25,740 per annum.

Lot 55 - London NW10

A Leasehold Self-Contained Two Bedroom Ground Floor Purpose Built Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved£17,680 per annum.

Lot 80 - London NW10

A Freehold Four Bedroom Mid Terrace House subject to a Tenancy.

Current Rent Reserved £24,700 per annum.

Lot 97 - London W9

A Freehold End of Terrace Four Bedroom House.

Vacant.

Lot 139 - London NW8

A Leasehold Self-Contained Three Bedroom Purpose Built Fifth Floor Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved £24,700 per annum.

Lot 145 - London W2

A Leasehold Self-Contained Ground, First and Second Floor Maisonette providing Three Bedrooms subject to a Tenancy.

Current Gross Rent Reserved £28,611.44 per annum.

Lot 159 - London NW6

A Leasehold Self-Contained Two Bedroom Purpose Built Ground Floor Flat subject to a Tenancy on terms unknown.

Lot 160 - London W10

A Leasehold Self-Contained One Bedroom First Floor Purpose Built Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved£12,240 per annum.

I received the same email at some very early hour in teh morning

Remember that there are no property auctions in August and it is not until mid September does the auction market get back to normal.

So a motivated seller has to resort to these types of marketing

I think it is woth noting that the sucess rate at auction has fallen in the last three months which suggests that vendors (quite a high proportion being receivers/mortgagees in possession) have been taken by surprise at the fall in prices and have not set their reserves correctly.

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Last one I watched (online) had plenty of unsold. Plenty of unrealistic guide prices to tempt people in but reserves set too high. Not done the calcs off Edward Mellors

Seems like Allsops isn't working well either:

The following Lots were withdrawn from our most recent auction. We are now instructed to offer each Lot for sale post auction. Best and final unconditional offers to be sent in writing to theman @ allsop.co.uk by 5pm on Monday 9th August for exchange of contracts on Tuesday 10th August.

Please note the following amendments to the AUCTION CONDUCT CONDITIONS:

1. In condition A5.1 the words "(normally on the fall of the hammer)" shall be deleted.

2. In condition A5.3 the words "leaving" shall be deleted and replaced with "the end of".

3. In condition A6.2 the words "attending" shall be deleted and replaced with "entering into".

Click on lot number for full details and to download the legal documents.

Lot 8 - London NW2

A Freehold End of Terrace Building internally arranged to provide Two Self-Contained Flats and a Residential Unit. The property is subject to Two Assured Shorthold Tenancies and a Tenancy on Terms Unknown.

Total Current Rent Reserved £22,364 per annum from 2 Flats.

Lot 16 - London NW8

A Leasehold Self-Contained Two Bedroom Purpose Built First Floor Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved £25,740 per annum.

Lot 55 - London NW10

A Leasehold Self-Contained Two Bedroom Ground Floor Purpose Built Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved£17,680 per annum.

Lot 80 - London NW10

A Freehold Four Bedroom Mid Terrace House subject to a Tenancy.

Current Rent Reserved £24,700 per annum.

Lot 97 - London W9

A Freehold End of Terrace Four Bedroom House.

Vacant.

Lot 139 - London NW8

A Leasehold Self-Contained Three Bedroom Purpose Built Fifth Floor Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved £24,700 per annum.

Lot 145 - London W2

A Leasehold Self-Contained Ground, First and Second Floor Maisonette providing Three Bedrooms subject to a Tenancy.

Current Gross Rent Reserved £28,611.44 per annum.

Lot 159 - London NW6

A Leasehold Self-Contained Two Bedroom Purpose Built Ground Floor Flat subject to a Tenancy on terms unknown.

Lot 160 - London W10

A Leasehold Self-Contained One Bedroom First Floor Purpose Built Flat subject to an Assured Shorthold Tenancy.

Current Gross Rent Reserved£12,240 per annum.

Agreed...I looked at one the other day which only sold 27% of their listed properties - compared to over 70% at the end of last year.

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  • 153 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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