Auction House advice

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Sellers who heeded advice from experts at award-winning brand Auction House in Lancashire are celebrating success - having sold all their properties for higher than their expected prices.

The recent sale took place at Preston North End Football Club on Thursday 24 May 2012 and achieved total sales of £1,088,000.

Oliver Adams from Auction House said: “Two of our clients made up the majority of sales and both followed our advice to keep prices keen in order to attract interest.

“This strategy more than paid off, with a number of lots proving very competitive and selling well above the guide price.”

In Fir Trees Avenue, Lostock Hall, near Preston, (pictured) a two-bedroomed, semi-detached bungalow which needed some work attracted a huge volume of bidders.

It started with a guide of £70,000 and sold for £108,000.

Oliver Adams explained: “One of the interesting points about this property was that the highest offer a local estate agent managed to secure was £92,500.

“But the owners were bold and took our advice to go through with the auction. Obviously they were delighted with the result.”

Another property which exceeded the auction expectations was a three-bedroomed, end terrace property in Chorley Road, Westhoughton, (pictured inset).

This is on a busy road and needs modernising, but in its favour it has a large garden, good views, off-road parking and the potential to extend.

This had been in the same family for a number of generations so was relatively untouched.

It started with a guide price of £30,000 and eventually sold for £85,000.

Oliver Adams added: “During this auction there were a number of properties sold by us in preference to an estate agent.

“It is the power of competition in the auction room which is ensuring many homes are selling for the highest possible price.”

Entries are being invited for the next sale with Auction House Lancashire which is taking place on Thursday, July 26.