Further reading
In January 2021, we encountered a noteworthy example of a property auction transaction orchestrated by McHugh & Co Auctioneers. The subject property, nestled in the sought-after Leyton E10 locale, initially presented itself with a guide price of £325,000. Astoundingly, the property garnered a final hammer price of £474,000 during the auction proceedings. (See lot listing here)
The visual representation of this property's pre-renovation state is provided below:
A mere nine months following a comprehensive refurbishment endeavour, the property underwent a complete transformation, culminating in a subsequent private treaty sale for a substantial £825,000. This enhancement resulted in an impressive uplift of £351,000, a figure that excludes the costs incurred during the renovation process.
Here's what the property looked like after refurbishment:
For those who aspire to discover properties similar to this remarkable example, we invite you to sign up for a free trial of our website to see exactly how EIG is an invaluable resource when looking to buy at auction. Here, one can conveniently explore an extensive number of auction properties, with over 4000 lots added each month.
Essential Information Group - News and Information
Keep up to date with our latest news, case studies and what's going on in the property auction industry on our blog.
Buying at auction
09/09/2024
EIG Property Auctions: Maximising Your Property Investment
For developers seeking their next renovation project, property auctions are the ideal place to find potential properties.
Buying at auction
29/08/2024
What is property auction finance?
Property auction finance is a specialised type of short-term lending designed to help buyers quickly secure the funds needed to purchase properties at auction.
Buying at auction
19/08/2024
The Two Main Types of Property Auction
There are two main types of property auctions: traditional property auctions and the Modern Method of Auction