The Connacht Property Auction held its 2020 summer auction last Thursday, July 2. Due to the current restrictions, the auction had to be held online and not in an auction room as normal, but the company saw some record bid levels with more than 75 bids received on some of the auction properties. The auction offered a wide range of family homes, builder’s projects, and land from around the province. The summer months are traditionally the busiest time of year for property transactions, and with a lot of pent up demand in the market, viewing levels and bidding levels are extremely strong at present.
The company is continuing to take entries for its online auctions, which continue to run frequently throughout Ireland and Northern Ireland. Company director Patrick Folan commented: “As a company we are in a unique position to be able handle some of the current challenges facing the industry. Our online platform allows buyers to bid for the comfort of their own home, as well as allowing contracts to be exchanged online making the transaction as easy as possible.”
In Furbo, in partnership with RE/MAX (Galway city ), the auction team offered for sale a four bed detached family home at bids over €230,000. The property, needing refurbishment, was ideally situated on a beautiful stretch of the Wild Atlantic Way. Due to the outstanding location the property was popular with both local and national buyers and sold for €275,000, some €45,000 over the reserve.
To Mayo next, where a traditional three bed stone cottage on an elevated 2.3 acre site was offered at bids over €37,500 in partnership with Sherry FitzGerald Hanley (Claremorris ). The property, located at Carrowbaun, Aghamore, had strong interest from the start and there was competitive bidding from several parties. After more than 35 bids this charming property sold for €61,500.
In Leitrim, a well-proportioned three bed terraced property was offered for sale in partnership with Gordon Hughes estate agents (Ballinamore ). Apartment 17 The Old Mill, Dromahair, came to market in walk-in-condition, with a potential annual rental yield of 11 per cent, and sold for €55,000 to a delighted local buyer.
One of the most active lots of this online auction was a three bed, traditional style, two storey residence, located in picturesque village of Keadue, Boyle, Co Roscommon. The property, which was offered for sale in partnership with Vincent Egan auctioneers (Boyle ), is in need of total renovation both internally and externally and had a starting bid price of €27,500. The property had more than 100 inquiries in the lead up to July 2, with several parties registered to bid on the day. After 40 minutes of lively bidding and 75 bids, the virtual hammer fell on the final bid of €84,500.
The Connacht Property Auction is now welcoming entries for its upcoming auctions, taking place on August 20 and September 17. To discuss selling your property by auction or to arrange a free valuation, call the auction team on 091 882 121 or visit www.connacht propertyauction.ie.