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Looking Back and Looking Forward

By the time readers come across this article, our December auction will have taken place! Fingers crossed for a good result.

All the hard work has now been done and as always we are back to square one and have to start thinking about our sale in the spring, and we are delighted we already have a number of lots for the first sale of the year. 

Looking back over the year we are pleased with the results of our auctions and take pride in the fact that we spend time offering advice to our clients and in particular giving an indication of whether or not a particular lot is suitable for sale by auction. There is no doubt that the auction process is a very good way of maximising value and achieving a result, but we are always very mindful that we need to give the right advice and very often we will recommend a private treaty approach or an informal tender sale as the better way forward. We should all remember that there are a number of ways of disposing of property but auctions continue to gather momentum and the decisive nature of the auction sale, with the resulting exchange of contracts at the fall of the hammer can often enable us to meet our clients' objectives and produce a result. 

Small pockets of land have sold very well this year, with some outstanding results. Back in September we were able to sell some 3 acres on the edge of Ketteringham for £78,000, being some £40,000 in excess of the reserve, and there were countless other results similar to this that remind us that individual buyers with their own agendas are prepared to pay a premium price to achieve what they want. 

Investment properties have sold well, including garages and let houses and as always cottages and farmhouses in need of renovation have surpassed expectations with buyers determined to achieve their dream being prepared to go further than they might have done through other methods of sale. 

In many cases we act for executors, where sales need to be achieved over a given timeframe. There are so many factors that influence value and of course there include the market, the location of the property and its condition as well, but the objectives always stand out and this is where we like to think we can make a difference in providing the right advice to unlock value. 

We always like talking to people about the auction process and there is no doubt that our approach works. Sensible advice, a good advertising campaign and realistic assessment leads to results and this has all worked for our clients this year. We hope very much that we will be able to continue our success and look forward to helping people with their property requirements in 2016. 

Peter Hornor