IAM Sold Property Auction – A successful Year in Auctions

Posted on 16th December 2019 by shaunaforde

As the year is nearing its end, IAM Sold Property Auction would like to wish all their clients a Happy Christmas and prosperous New Year as they review their year of auctions for 2019. The auction team are celebrating an impressive run of 40 auctions across Ireland and Northern Ireland. This included  15 successful public auctions across Leinster, Munster & Connacht along with 25 online auctions. A wide range of properties were offered throughout the year ranging from family homes, investment properties, commercial buildings, sites along with several successful sales of agricultural holdings. Company directors Patrick Folan and Patrick Convey were delighted to announce a 92% sold rate overall for the year. After another stellar year, IAM Sold are now the biggest auction house in Ireland and the UK selling over 3000 properties during 2019.

During a busy year for the company, IAM Sold were also nominated for the Irish Property Excellence Awards which were held in Dublin in November. The company were shortlisted under the highly competitive “Prop Tech” sector which showcases companies who are using technology to drive progress within the property sector. While not coming home with the award, the company were delighted with the recognition of the awards.

Company Director Patrick Folan noted “our auction platform has been growing in popularity since we launched to the market in 2012. Our online auction makes bidding easy for buyers while also giving the transparency and speed currently lacking in sales by private treaty. Our online auctions are suitable for all types of buyer and properties. During 2019, for the first time we saw mortgage buyers overtake cash buyers in terms of volume of purchases at our auctions. The company work with over 250 partner auctioneers and Director Patrick Convey commented “the success of our auctions is down to the large marketing campaigns we undertake in Ireland and abroad while also working in close partnership with our local partner auctioneers. This combination of regional / national auction house in partnership with the local auctioneer offers both access to the local buying pool and the broader reach the auction ensures.”

The Leinster Property Auction held 5 public auctions in The Clayton Hotel, Liffey Valley, Dublin and recorded an overall sale rate of 91%. The Leinster Property Auction have successfully sold properties in all counties in Leinster and further afield. The region saw an increase in sales during 2019 and also saw an expansion of the partner auctioneer network to over 70 partner auctioneers. A selection of sales included a 6 bed semi-detached home in Rathmines, Dublin. The property at 1A Leinster Road was offered to the market in partnership with Youngs Estate Agents, Ranelagh at reserve of €900,000. Bidding opened at the €900,000 mark and after some brisk bidding was sold for €1.01 Million. In partnership with Kelly Bradshaw Dalton, the auction team sold a handsome, mid terraced, red brick investment property situated in the heart of Phibsborough Village. The property consisted of 5 self-contained flats was sold for €650,000 and sold via the online auction.  As part of the national Holiday Home Auction which was held in Dublin on July 18th, the auction team offered to the floor 12 Laurel Lodge, Standhill, Sligo at bids over €135,000 and again there were several parties bidding, both in the room and on the phone. This ideally located property received over 30 bids before the hammer fell on €172,000.

The Munster Property Auction took place in The Rochestown Park Hotel, Cork, and the region finished with an overall success rate of 94%. The auction team sold properties from all counties in Munster, including a landmark public house and restaurant located just 10km from Cork City Centre. The Waterloo Inn was offered in partnership with Property Partners Matt Fallon and successfully sold for €370,000.  Elsewhere, a fine 4 bed dormer style detached residence, located in Knocktoran, Elton, Co. Limerick, which was sold in partnership with Carroll Auctioneers. The auction team noted strong auction interest in the property and the hammer fell at €240,000. At the final Munster auction of 2019, in partnership with William Hennigan Auctioneer, the auction team offered for sale 10 two bed apartments in Firies Village, Killarney, sold as one lot. There was strong enquiry in the lead up to the public auction and this ideal investment opportunity was successfully sold for €350,000.

The Connacht Property Auction held their public auction events in The Menlo Park Hotel, Galway with an overall sale rate of 88%. The auction team successfully sold properties in all counties across Connacht and continue to offer a broad variety of properties. A selection of these recent sales include a property at Cleggan, Galway. This 4 bed detached property received significant interest and was sold for €275,000 in partnership with O’Malley Properties. In Galway City, a well maintained 2 bed apartment was offered for sale in partnership with Property Partners Emma Gill. No. 27 An Larnach, Bohermore received several bids at the public auction event was sold for €160,000. The auction team, in partnership with Gordon Hughes Estate Agents, sold a beautiful 4 bed family home in Gorvagh, Co. Leitrim. The property had strong local interest before it sold for €160,000.

IAM Sold Property Auction are continuing to take entries for their online auctions which are ongoing and have a further 5 public auction events planned for 2020. With over 92% success rate in 2019 and 2018, the auction provider will be aiming for similar results in 2020.

Contact IAM Sold Property Auctions on 01 687 5040 to arrange for a free property valuation or for more information visit www.iamsold.ie.

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