Starter homes: Blarney Street, Cork €no reserve
A house at auction with no reserve? There has to be a catch, right? No such thing as a free lunch and all that.
Well, there is — in that this house at 340 Blarney Street, Cork is being sold as part of the Munster Property Auctions, but with a possessionary title. Short story — it means new owners will have to register the property with the land registry — so the market is effectively limited to cast buyers only. No bank will lend on a weak or non-existent title. Hence the no-reserve flag before auction.
