With standing room only at a crowded auction room in the Imperial Hotel, Eyre Square, Property Partners Maxwell & Heaslip concluded its second round of auctions in as many weeks with two more excellent results, establishing a 75 per cent success rate for the city based auctioneers. In the present market this is impressive and has shown that the company has a proven formula for success.
The first property to go under the hammer was a two storey red brick residence on the Clybaun Road, No 62 Winfield Gardens. This large family home had an AMV of €400,000 and while auctioneer James Heaslip MIPAV had to work hard early on in the proceedings, he eventually got the bidding started at €360,000. From there the bids went up in increments of €5,000 and eventually the property was withdrawn and sold after the auction for €418,500. “As everyone is aware it is tough times in the market at present, but if a property is priced right and presented as well our vendor has this, then sales will happen,” Mr Heaslip commented.
The next auction saw Alan Maxwell MIAVI offering No 128 Laurel Park, a three bedroom semidetached in Newcastle, to the floor with an attractive AMV of €200,000. In contrast to the usual auction format, this sale was being carried out on the instructions of the office of the ward of court. In this instance the reserve price of the property is retained in a sealed envelope only to be opened upon the conclusion of the bidding. While it seemed like the property was just about to be withdrawn Mr Maxwell received a bid of €180,000 and there was no looking back from there. After 20 minutes of frantic bidding, the highest offer of €221,000 was deemed the final bid and packed auction roomed awaited in anticipation as Mr Maxwell opened the envelope. This bid has now been submitted for the approval of the Ward of Court office and a successful conclusion is expected.
Company director Mr Maxwell has attributed the company’s success to a combination of experience and a realistic approach when dealing with clients. “We have been through times like this before and there is undoubtedly light at the end of the tunnel with historically low interest rates and properties now being priced to sell,” he said. However, he emphasised that it is imperative that the banking industry makes funds available for willing purchasers to assist with market recovery.
Property partners Maxwell & Heaslip is currently preparing for auctions to be held in June where further success is anticipated. Further details can be obtained from either Alan Maxwell or James Heaslip at (091 ) 565261.
