The first Connacht Property Auction of 2015 was held on February 26 in the Menlo Park Hotel, Galway. Of the 24 properties on offer via the auction company, 21 properties were successfully sold, giving an 88 per cent success rate. The auction team are now taking entries for upcoming auctions taking place on April 23 and June 25. The Connacht Property Auction is the only auction company in Ireland which does not charge upfront costs or marketing charges to enter a property into its auctions.
There was competitive bidding on the day with many properties well exceeding their reserve prices. One of the lots of interest comprised two sites in Menlough, Ballinasloe, sold in partnership with Paddy Keane auctioneers, Ballinasloe. The starting bid on the property was €28,000, with 18 bids received on the night. The bidding finished at €44,000, which was 57 per cent over the starting bid price. Patrick Folan from The Connacht Property Auction said: “There were a number of parties interested in the property and the price well exceeded the expected price on the night. The property represented value for money to the bidders involved, and the owner was delighted with the end result.”
Another sale on the night was a house at Mweenish, Carna, sold in partnership with Matt O’Sullivan auctioneers, Clifden. This three bedroom property is located in a scenic area of Connemara on an excellent seashore site. There were a number of bids received on the property, and the successful bidder secured the property at €130,000.
Outside Galway there were a number of successful sales including No 11 St Bridget’s Terrace, Castlebar, which sold for €80,000 in partnership with DNG Burke Connolly Maloney, Castlebar. A three bedroom bungalow in Calry, Sligo, was also successfully sold for €177,000 in partnership with DM Auctions, Sligo, while a well finished four bedroom bungalow in Holywell, Ballyhaunis, was sold at €132,000.
The Connacht Property Auction is now welcoming entries for its 45 day online auctions and its next public auction, taking place on April 23. With hundreds of registered buyers and the impressive success rate, it seems the Connacht Property Auction is the way forward for property owners looking to sell. This auction, which works in partnership with a host of estate agents from across Connacht, offers properties for sale via the online auction and public auctions, and with no upfront costs or marketing fees, this option is becoming increasingly attractive.
To discuss selling your property by auction or to arrange a free valuation, call the auction team on 091 882 121 or visit www.connachtpropertyauction.ie