A three-bedroom detached bungalow in a stunning rural location on the outskirts of Romsley village in Worcestershire sold for 21 per cent over the guide price of £280,000, following a successful auction through IAM Sold.
The property was with the agent, Bloore & King, identifying auction as the perfect solution to the vendor’s requirements to sell quickly and maximise the true value of the property. It sold in under seven weeks for £75,000 over the starting bid, received 42 viewings and 57 bids.
Jamie Cooke, Managing Director of IAM Sold, said, “The property is in a desirable position on a large plot, with huge scope for redevelopment. Given this potential, we weren’t surprised by the high volume of bids and eventual sale price of £355,000.
“This is an excellent example of the Modern Method of Auction really coming into its own and fulfilling vendor requirements – whilst also opening up opportunities for keen buyers.”
Chris Bloore at Bloore and King Sales and Lettings, in Halesowen, added, “We were delighted with this sale and so happy that the owners have had such a fantastic result. Once again the modern method of auction has proved itself to be an excellent tool to sell property in this market. We knew there was going to be a huge amount of interest in this home but even we did not expect the level of offers which achieved the best result we have ever had at auction.”