Auction action gathers pace as two agencies hammer on

Auction action is set to gather pace in the coming two months, with agents DNG Creedon in Cork city entering the process with two multi-lot auctions in September and October.

Separately, IAM-SOLD Property Auctions have six auctions scheduled before the end of the year, in Connaught, Leinster and Munster.

They are hoping to hold onto their 90% sales success record under the hammer, a level secured over the first seven of their 13 auctions for 2015.

Recent entrants to auction disposals, DNG Creedon in Douglas have 12 residential properties so far for their September 29 auction, taking place from 10am in the Clarion Hotel, Cork (the hotel itself is currently up for sale with a €30m guide) ranging from €25,000 to over €350,000 in AMVs.

They expect to have even more properties in their October 22 Cork auction, says DNG director Shane Finn.

Properties for Sept 29 include six apartments in Youghal, earning €30,000 pa, guiding €90,000, a new two-bed semi-d in Doneraile for €25,000, and a six-bed home at Dennehys Cross near UCC, Cork, at €350k.

Meanwhile, IAM-SOLD will hold auctions in Connacht (Sep 17 and Nov 19), in Leinster (Oct 7 and Dec 10) and in Munster (Oct 1 and Dec 3).

They work in partnership with their local agents, currently working with over 120 estate agents.

Director of IAM-SOLD Patrick Convey said the method allowed property owners an effective way to sell their assets “in a reasonable timeframe, while achieving market value.”

Like DNG in Cork, they are currently listing for upcoming auction events.



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