IAM Sold Property Auctions record most successful year to date

Property reporter


Property reporter

IAM Sold Property Auctions record most successful year to date

Property auctioneer, Aidan Foley

As the year is nearing its end, IAM Sold Property Auction would like to wish all their clients a Happy Christmas and prosperous New Year as they review their year of auctions in 2018. The auction team are celebrating an impressive run of 15 successful public auction events across Connacht, Munster & Leinster. In addition to the public auction, the companies online auction platform has gone from strength to strength in 2018 with hundreds of sales taking place on the online auction platform. The properties offered at the auctions range from family homes, investment properties, commercial buildings, development sites along with several successful sales of agricultural holdings. IAM Sold Property Auctions are now the biggest auction house in Ireland and the UK selling over 3000 properties in 2018. Company directors Patrick Folan and Patrick Convey were delighted to announce a 92% sold rate on properties successfully sold in Ireland alone this year.  

Mr. Folan noted “our auctions are aimed at the normal property market and not distressed sales , with this in mind we are very proud to reach the 92% success which was the highest sold ratio in Ireland during 2018. We are also the only auction company in Ireland who do not have any entry or marketing fees to enter a property into auction, so the pressure is on us to ensure we get results for our clients.” The company work with over 200 partner auctioneers across Ireland and Mr. Convey commented “the success of our auctions is down to the large marketing campaigns we undertake in Ireland and abroad while also working in close partnership with our local partner auctioneers. This combination of regional / national auction house in partnership with the local auctioneer offers both access to the local buying pool and the broader reach the auction ensures.”

The Connacht Property Auction held 5 public auctions in The Menlo Park Hotel, Galway this year with an overall sale rate of 92%. The auction team have successfully sold properties in all counties across Connacht and continue to offer a broad variety of properties.

A selection of these recent sales includes an excellent investment property in Newport, Co. Mayo.  9 apartments in Lios Mor, Newport were brought to market in partnership with O’Malley Properties and had strong interest in the weeks leading into the auction event. Bids came in quick succession for this investment portfolio before the gavel was dropped the highest bidder at €400,000.

In Galway City, the auction team successfully sold a 2 bed semi-detached mews located in Ballybane, Galway City. The property was offered for sale in partnership with RE/MAX Property Experts Galway and offered an excellent opportunity for first time buyers or investors alike. The property received strong interested from in the lead up to the auction and sold for €100,000.  

In partnership with Property Partners Emma Gill, a large 4 bed, detached family home was offered for sale in Tourmakeady, Co. Mayo. This stunning property overlooks Lough Mask and the property received strong interest leading into the auction event before selling for €285,000. While in Pontoon, Co. Mayo a spacious 3 bed detached house sold in partnership with Gerry Rowland of The Optimum Group. Bidding was brisk with a number of different parties eager to secure this well-located property and after over 30 bids the hammer fell on a final bid of €172,000.

Meanwhile in Leitrim, the auction team offered a 4 bed bungalow in Carrick-on-Shannon to the auction floor in partnership with Gordon Hughes Estate Agents. The property at Hartley Court received a number of bids and the successful bidder secured the property at €100,000.

Elsewhere in country the Munster and Leinster auction teams were also achieving strong results in their various areas. Both held 5 public auctions throughout the year and finished with an impressive 91% and 93% sold rates respectively.  

IAM Sold Property Auction are continuing to take entries for their online auctions which are ongoing and have further public auction events planned for 2019. With over 90% success rate in 2018 and 2017, the auction provider will be aiming for similar results in 2019.

Contact The Connacht Property Auction on 091 882 121 to arrange for a free property valuation or for more information visit www.connachtpropertyauction.ie.

Next Online Auction takes place on January 31st. Next Public Auction will be held on February 21st in The Menlo Park Hotel, Galway.