Auctions are becoming increasingly popular

Thursday, April 08, 2010

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North East estate agent Pattinson has been putting properties under the hammer since 1991 and is now in 6th place in the National Property Auction Index, making it the highest ranked auction house outside of London and the South-East.  

Simon Cooper, Head of Pattinson’s North East Auction department says “Residential sellers and buyers are now very tuned into the auction concept and appreciate that it’s not only suited to investors.  Since introducing the Conditional Auction concept 15 years ago – where a successful bidder pays a £3,000 non-refundable deposit and exchange of contracts happen in 28 days – they are won more clients seeking a family home.

Simon added “People who are new to the auction process may think of it as a daunting experience.  However we often have prospective sellers and buyers who just want to come along to an auction and sit amongst the crowd so they can absorb the exciting atmosphere and gain first-hand experience of the auction process.  They are able to see why it is becoming an increasingly popular option.  

Mr Cooper said “An increasingly wide range of properties are represented at each of our monthly auctions and the security of a reserve price and potential swift sale are drawing more ‘ordinary’ sellers each month.
 
The next auction will be held on Tuesday 27 April 2010 at Newcastle Falcons Rugby Club, Kingston Park, 5pm registration and the auction will start at 5.30pm.  For details go to www.pattinsonauctions.co.uk or telephone 0845 1461582.