Starter homes: Blarney Street, Cork €no reserve

Sq m: 106 (1,150 Sq. ft)
Bedrooms: 3 Bathrooms: 1
BER rating: F

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.

And it’s not a bad pitch on behalf of Pat Falvey of Coldwell Banker / Carlton Real Estate because nothing whets the appetite quite like the prospect of a bargain.

The house is terraced, but saying that, it does have rear access from the front and it’s a good size too, at 1,150 square feet with three bedrooms.

All services are laid on, including gas heating, says the auctioneer, and it just needs cosmetic work and light renovation to bring it up to standard, he adds. The property had achieved a rental income of €8,400 pa up to recently.

The two-storey three bed is close to Shandon St and the city and is up for auction on Thursday July 10 at 7pm, as part of Munster Property Auctions.

A variety of properties from all over Munster will be offered on the night at the Rochestown Park Hotel, Cork.

VERDICT: A bargain could be had.


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