The first serious discounted property auction of the season takes place on Thursday 18th November 2010 in Navan, hosted by joint agencies Lisney and Smith Harrington Estate Agents.

The properties up for auction were acquired by Meath County Council by CPO, or Compulsory Purchase Order, more than five years ago to facilitate the building of the sacrilegious part of the new M3 motorway. Four of the houses are in Navan and one in Dunshaughlin.

The auction line up consists of:

1. Five- bedroom detached home at Balreask New on one acre AMV €190,000

2. Three-bedroom semi in the same area on .75 acre AMV €160,000

3. Two/three-room detached house at Ardsallagh on 0.5 acre AMV €100,000

4. 0.4 acre site with burnt out remains AMV€50,000

5. Four-bedroom house on .75 acre (with self-contained unit) at Roestown AMV €230,000

While on the face of it, these properties are suitable and typically aimed at first-time buyers, it is essential that buyers speak to their lenders about further upgrading works to be carried out. Most lenders are not amenable to such a project in the current market.

For buyers living and working in the area, these properties may well represent an opportunity to create their ideal home in the country for less than the price of a three-bedroom semi in a local town estate; however, the one unchangeable factor is location and its impact of the further sale of the property into the future. Buyers, be realistic in assessing this.

One final word of caution, always remember that a cheap property can be bought cheaply in any market, look for quality home below market value in order to buy well and secure your investment.

Contact us for a list of Auction Tips and information about attending and bidding at auction on info@buyersbroker.ie.

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