Buyers and sellers are both achieving their goals and objectives in the O’Donnellan & Joyce auction room. Colm O’Donnellan of O’Donnellan & Joyce auctioneers outlines that this year in particular has been a great year for buyers as they are obtaining tremendous value with sellers placing extremely attractive reserve prices (minimum prices ) on properties in order to achieve sales. With less competition in the auction room than in previous years, tremendous value has been obtained for the buyers, in some cases below the advised minimum values.
For the sellers they are also achieving their objectives as once the auctioneer’s hammer falls the house is sold without any conditions, and the contracts are signed. The seller then knows that his/her house, is sold without conditions such as not being subject to loan approval, not subject to a sale of a house or not subject to an engineer’s report and can plan ahead with the knowledge that there property has been disposed of.
At the last number of auctions a detached house in Barna which comprised four bedrooms and had majestic views was withdrawn at €900,000 and was sold immediately after the auction for a much higher price, also a house in Dalysfort Road with an advised minimum value of €400,000 attracted enormous interest in the room with several bidders bidding intensely and it attracted the advised minimum value of €400,000. O’Donnellan & Joyce sold a house at St Mary’s Road for €465,000.
O’Donnellan & Joyce’s next auction will be held on Friday December 12, which is the last auction of the year when they will place a detached property at Rockboro, 24 Kingston Road up for sale which is an executor sale with a guide price of €850,000.
In addition 3 Upper Fairhill Road, The Claddagh, will be placed up for auction on the same day and is an executor sale. The property is a three bedroomed mid-terraced residence and is in need of a certain amount of re-modernisation. The guide price is €250,000.
The auction will take place on Friday December 12, 2008 at 3pm in the Harbour Hotel, New Dock Road, Galway. Further details can be had from Colm O’Donnellan 087 2887446 or Anne Harding 086 8173335 of O’Donnellan & Joyce auctioneers 091-564212.
