The Gables, Little Green Lane, Caddington, Luton, Bedfordshire, LU1 4EW
This detached chalet house had extensive cracks throughout and an ongoing subsidence claim. It was originally due to enter our April 2020 auction but due to the pandemic, we offered the property in May instead at £320,000. This guide price was slightly above our recommended level as generally a lower guide price will encourage more interest in the property. Only eight people viewed and the feedback was negative, so we withdrew the property to allow the seller to agree a settlement figure with his insurers. The best offer post withdrawal was £275,000.
Once the seller had agreed a settlement with his insurers at the end of 2020 and been paid, we offered the property in our February 2021 auction, without the benefit of any continuation of insurance. This time it was offered at our recommended guide price of £250,000 and the reaction was totally different. A full viewing schedule saw 32 viewers, a number of pre-auction offers were rejected and the property sold in the auction for £370,000.
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