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Summer Success for IAM Sold Property Auctions - IAM Sold Ireland Blog

Summer Success for IAM Sold Property Auctions

Posted on 19th July 2019 by shaunaforde

We held the last of our summer auctions on Thursday July 18th in The Clayton Hotel, Dublin. This was our final auction in a busy period for the company in which we held 6 auctions across Leinster, Munster and Connacht this summer – the largest volume of multi-lot auctions held by any company in Ireland during this period. As part of our last auction event, we held a specialised Holiday Home Auction. This annual event offered a number of coastal and holiday home properties from across all the country including Sligo, Wicklow, Kerry, Leitrim and Donegal. As with previous years this auction attracted strong interest from both Ireland and abroad with 29 properties on offer in the Dublin event.

The auctions held in Galway, Cork and finally Dublin offered a large range of properties including family homes, agricultural lands, commercial units, investment opportunities, builder’s projects, and sites. Many for these properties had competitive bidding with many sold for well over the reserve price.

As has been the trend for the last number of years, urban properties are popular with investors, cash and mortgage buyers alike, and tend to sell in a shorter space of time. On July 4th The Connacht Property Auction sold a well maintained, tenanted 2 bed apartment. The property at 27 An Larnach, Bohermore was offered at bids over €149,000. With an excellent location within walking distance of Eyre Square, the property attracted a number of potential buyers and competitive bidding. The property offered an excellent opportunity for first time buyers and investors alike and sold for €160,000.

In The Rochestown Park Hotel, Cork, The Munster Property Auction sold an attractive 3 bed residence in Tipperary. 3 Aherlow Woods proved to be the most popular lot of the event. Bids came forward briskly with several parties raising their bidding paddle, as well as per registered phone bidders. The auction team really had saved the best for last and after 44 bids, which opened at €60,000 the hammer came down to a bid of €121,000 to a delighted bidder in attendance at the auction.

Some of the strongest demand was seen at the Leinster Auction on July 18th which included the Holiday Home Auction held in The Clayton Hotel, Dublin. A very popular lot at this event was two, 4 bed semi-detached properties in Greencastle, Donegal offered at bids over €80,000. These properties were offered for sale in partnership with Neal J. Doherty and several parties were in attendance in the hopes of securing these ideally located properties. The bidding in the room was fast paced and competitive with almost 60 bids recorded before selling under the hammer for €136,000.

Patrick Folan, company director commented “each year at this time we see an increased demand for properties from external buyers from the UK, America / Canada, Europe and also from Irish buyers purchasing in other areas of the country. The recent auctions were hugely successful and we are delighted to have another large turnout of buyers.”

The auction company have an impressive 90% success rate so far this year and with six further public auctions to come the auction team will be looking for the high success rate to continue.

IAM Sold are now welcoming entries for their upcoming online & public auctions this August & September, to discuss any suitable properties for auction please contact the auction team today on 01 687 5040 or admin@iamsold.ie

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