Online auction firm see big increase in demand for service

Weatherfort, Clogher, Claremorris, Co Mayo.

Weatherfort, Clogher, Claremorris, Co Mayo.

Online auction specialist iamsold saw a significant increase in demand for its online auctions from vendors and partner auctioneers. Over the past month, the levels of new stock coming to the market has seen a significant uplift and demand from buyers also remains very strong.

Shane May, sales manager, commented: “The number of residential listings overall on the market in Ireland have seen a small increase of one per cent since the end of January. However, listings on the online auctions have increased by three per cent in February and then jumped by 10 per cent in March. The recent jump in listings is down to vendors looking for more speed and security in the sale.

“We work alongside 300 auctioneers in Ireland and they offer the normal private treaty process and also the binding bids/online auction route in partnership with iamsold," he added. "Partner auctioneers make their clients aware of their different offerings and vendors are often opting to go straight into the binding bids route as it provides more speed and security. Interested parties visit the property, as normal, and then can review the legal pack before deciding to bid. Once happy with the property legal pack, the buyer pays down a bidder security deposit which is non-refundable once the bid is accepted. The bidding process is transparent and benefits from fixed timeframes of between four and six weeks to complete the sale."

The iamsold binding bids process is proving successful and continues to grow in popularity among vendors and buyers. The process is similar to private treaty sales, except parties review the legal pack prior to bidding and then sign up online to bid at the auction.

Some properties currently listed for the next auction date are:

No 26 Árd Álainn, Ballybane, Galway

Offered at bids over €185,000 in partnership RE/MAX Professional Partners Galway.

This three bed, end-terrace, house is located on the east side of Galway city, close to GMIT, several supermarkets and shops, and the city centre is just 4.5km away. The property is fully refurbished throughout and is an ideal investment property, or family home for first time buyers.

No 13 Shannon Grove, Carrick On Shannon, Co Leitrim

Offered at bids over €185,000 in partnership Gordon Hughes estate agents, Ballinamore.

A three bed semidetached house which is offered to the market in walk-in-condition and ready for immediate occupation. Situated in a quiet residential area on the outskirts of the thriving town of Carrick on Shannon and within walking distance of all shops, services, and schools. This property is suited to first time buyers, as a family home, or as a holiday home or for those seeking an investment property.

Weatherfort, Clogher, Claremorris, Co Mayo

Offered at bids over €49,500 in partnership Kevin Beirne auctioneers, Castlebar.

This charming three bed bungalow is ideally located just 12km from Castlebar town and all local amenities. The property is sold with full planning permission granted for a new extension. The planning includes one bedroom, a bathroom, a kitchen/utility, and a living/dining room. This property gives the buyers a chance to put their own stamp on it after purchasing.

The online auction company plans to continue with its monthly online auction dates in 2022 and is now taking entries for the upcoming auction dates which are April 14 and May 19. There are no costs to enter a property into the auctions.

Contact iamsold on 091 882 121 to arrange for a free property valuation or for more information visit www.iamsold.ie

 

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