Case Studies

Property Case Studies in Cumbria, the South Lake District and the Furness Peninsula

2 Bedroom Cottage Auction in Pennington, Cumbria

Poole Townsend Estate Agents recommended to the owners of Rowe House, a traditional 2 bed cottage situated in the village of Pennington near Ulverston in Cumbria, that they sell their property via an auction. Poole Townsend knew that Rowe House was particularly suited for sale by auction, as it is a unique property which made a concrete valuation difficult, and the owner wanted a rapid sale in a market where houses on average take three to six months to sell.

Poole Townsend marketed the property to prospective buyers across Cumbria and the South Lakes and arranged an auctioneer and obtained an attractive venue for the auction at Pennington Memorial Hall, attracting forty prospective buyers on the day. After fierce bidding, the house sold for £149,000 which met the valuation guide suggested by Poole Townsend's expert house valuators.

Legal contracts were exchanged on the same day meaning that the seller achieved sizeable interest in the property and a rapid sale without having to compromise on the asking price of the house in a market in which house prices have been falling and house sales have been slow. The buyers were thrilled with their purchase as they felt they got value for money and were able to move in and begin making renovations almost immediately.