With standing room only at a busy auction room in the Imperial Hotel, Eyre Square, Galway city based auctioneers Property Partners Maxwell & Heaslip concluded its latest round of summer auctions with two out of the four properties being offered to the market achieving excellent prices. These latest sales show a 65 per cent success rate for the year so far and there is no doubt that Property Partners Maxwell & Heaslip has a proven formula for success and is leading the way when it comes to getting results.
Last Friday’s auctions saw four completely different types of properties being offered for sale to the market. The first of the properties was a detached bungalow set on a half an acre in the town land of Cloonmore in Roscahill, which had a low AMV of €250,000. Second up was a gorgeous owner occupied four bedroom bungalow in Radharc Na Farraige on the Ballymoneen Road, which had an attractive AMV of €295,000. The third lot was a three storey period residence, No 7 Nuns Island, which was being offered with a AMV of €495,000, and the final property to be offered to the floor was an outstanding site on the Rockbarton Road in Salthill which was being guided with an AMV of €700,000.
As expected, a large number of interested parties showed up to witness the proceedings. While all four of the properties were offered to the room, the bidders were very slow to react and after 20 minutes all four lots were withdrawn and it appeared that it was going to be a disappointing day for all involved. However, no sooner had the auctioneers James Heaslip and Alan Maxwell wrapped up proceedings in the main auction room, than private negotiations commenced on all properties, with interested parties dispersing to different rooms where determined negotiations over the next two hours successfully seeing contracts signed for the properties at Nuns Island and Rockbarton.
“It’s strange how these things work sometimes, we had all the interested parties sitting in a room with the expectation that this is where we will conduct our business, and yet, funnily enough, sometimes we end up doing the business afterwards, privately in the hallway or the bar,” said James Heaslip. “Some people just do not want to bid at an auction and so they will take their chances afterwards if a property is withdrawn.”
The vendors of Nuns Island and Rockbarton are reportedly very satisfied with the outcome of the auctions and active negotiations are still ongoing for the properties in Roscahill and Radharc Na Farraige.
Company director Alan Maxwell has attributed their 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 added 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 its next auction date. Any interested parties can feel free to contact either Alan Maxwell or James Heaslip at (091 ) 565261 for a without obligation appraisal.
