This house in Freehold completed in June 2017 at just £134,000. It had sat on the market for over 200 days. The gentleman that bought it never moved in. In fact, he didn’t do anything. His circumstances had changed. So how, just 6 months later did we re-sell it for £11,000 more?
Address: Grasmere Road, Freehold
Number of viewings: 4
Number of interested buyers: 2
Time until buyer found: 8 days
Sold: Full Asking Price
A little bit of history
Grasmere Road has an intriguing story. This is the story of a home in Freehold, with a west facing garden which had lingered on the market. It was originally sold by a local online estate agent. It was home which needed TLC. However, it was in a superb location, had off street parking and fabulous views towards Lancaster Castle.
The gentleman that bought it got a fantastic deal. It was originally on the market for £147,500. However, it lingered on the market and he picked it up for just £134,000. He had fabulous plans to extend the property, except his circumstances changed and he wanted to sell it. Most of his life savings had been invested into this home. His request was simple, can we sell it and make sure he is not out of profit? We believed we could get him more. He wasn’t quite as believing, given the fact it struggled to sell previously!
What we did
Freehold is one of our top selling areas. At the time of valuing, 5 of our previous 6 sales in Freehold had achieved the asking price or more. We know this area well. We know why people want to live here. We know the community and all it offers. More importantly, we know what our registered buyers are looking for.
The previous photos weren’t flattering, the floor plan excluded the measurements and the wording was rather “un-descriptive”. We wanted our marketing to be “attractive” to be potential buyers in order to get our client the best possible price.
We launched for sale on a Thursday back in October, perfectly timed in order to get viewings booked in for the weekend. The team sent details out and called potential registered buyers. Almost immediately 3 viewings were booked.
Almost immediately we achieved 2 offers on this property. Both buyers were in a no chain position. We asked for best and final offers. Proof of funds was obtained. A sale was agreed to the person which originally offered the highest. Sadly though, this party wanted to lower their offer once it had been accepted. After discussions with our client, we all agreed this was not agreeable, therefore we gave the first option the 2nd offer. Just 8 weeks later the sale completed. Even after buying and selling costs, our client was substantially better off, despite only owning the house less than 6 months and doing nothing with it!