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Galway based property firm IAM-SOLD, which currently operates The Connacht Property Auction and The Munster Property Auction, has announced the launch of a new auction in Leinster, with its first public auction event being held on July 23.
The Connacht Property Auction held its second public auction of 2015 on Thursday last in Galway city.
Auction results remain strong with ninety two per cent of homes sold at The Connacht Property Auction
The Connacht Property Auction held its second public auction of 2015 on Thursday last Galway city. In total there were 25 properties offered for sale, and as the spring season settled in the auction team noted increasing demand from both local buyers and those from further afield including the UK and US.
With only two weeks to go until the next Connacht Property Auction, the auction team are inviting entries for the event which will be held on Thursday April 23 in the Menlo Park Hotel, Galway. After a busy start to 2015, the auction team are expecting strong interest in the properties on offer. The auction will offer some 30 properties across Mayo, Leitrim, Galway, Roscommon, Sligo and also Clare. After a very successful auction in February where 21 out of 24 properties were sold, the auction team are encouraging people who are thinking about selling to contact them. The company is the only auction provider in Ireland which does not charge admission or marketing fees to enter the auction, making it very appealing to property owners. Furthermore the company also offer an online auction system where all bids are made visible on its website www.connachtpropertyauction.ie.
There was considerable interest in a Main Street property in Ballyhaunis at the first Connacht Property Auction of the year.
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.
The Connacht Property Auction will have its first public auction event of 2015 on Thursday February 26 in the Menlo Park Hotel, Galway. There will be more than 25 properties offered including properties in Mayo, Galway, Roscommon, and Clare. Registration will begin at 6.30pm with the auction starting at 7pm. The auctions are held in the evening to make it as accessible as possible for buyers to attend. Furthermore, for those who cannot attend the auction, the company offers phone bidding and written proxy bidding, to facilitate anyone who is interested in bidding on one of the auction properties.
The Connacht Property Auction will have its first public auction event of 2015 on February 26 in the Menlo Park Hotel, Galway. There will be more than 25 properties offered including properties in Galway, Mayo, Roscommon, and Clare.
With the next public auction taking place on February 26, The Connacht Property Auction has noted a significant number of buyers are looking to purchase quickly, before their mortgage approval expires. With new rules introduced by the Central Bank, buyers will need larger deposits to purchase property. However purchasers with existing mortgage approval can still purchase under the old rules, until their approval expires. The new rules mean first time buyers need a 10 per cent deposit up to €220,000 and 20 per cent on the purchase price over this amount. Other residential buyers need 20 per cent deposits while investors need 30 per cent. There are some cases where flexibility will be allowable, but in general, larger deposits will be needed when purchasing property.
IAMSOLD Property Auctions held its first Connacht Property Auction on November 14 2013, when 22 of the 27 properties offered were sold successfully. Since then the company has seen phenomenal growth and is fast becoming one of the major auction providers in Ireland.