Buyers Broker Ltd

TV3, The Morning Show

Sybil and Martin speak to Carol Tallon about the upcoming Allsop Space property auction, which takes place at The Shelbourne Hotel, Dublin on Thursday 7 July. Apologies for the poor sound quality.

There is an interesting mix of properties under the hammer this time around. Investors will get their shot at discounted one and two bedroom apartments in the city center, however, potential home buyers have a range of genuinely beautiful, modern homes on large sites nationwide. The best homes that we have seen in Thursdays line-up are in Dublin (Kilternan and Kilmacud Road), Wicklow (Stepaside), rural Cork and Laois.

We have seen little evidence to suggest that mortgage lenders are supporting home buyers at auction and if this is true, those rural homes may struggle on Thursday. In my own opinion, the value of some of these homes is excellent and I wonder will cash investors with adult children see this as a solution to their childrens’ mortgage mortgage difficulties….

Best lots must surely include the double property in Killiney in a state of partial completion. The seaviews will make these two properties a spectacular buy, with a combined maximum reserve of just €200,000.

Or could the best buy of the day accolade maybe go to the buyer of lot #74, a fire damaged house on a large site in Dundalk, max reserve €50,000. The garage, ripe for creative conversion to a self-contained unit might just make it a feasible project – just don’t try to bank it!

On a more serious note, there is a sadder tone to some of the properties included. Last April, we saw mainly developers stock come under the hammer, on Thursday we will be seeing more carefully planned and much loved homes offered – will this have any impact on the bidding…?

It is always difficult to predict in advance, however, I do not expect a repeat of the frenzy we saw at the first bank auction in April. Of the 85 lots offered (2 have already been withdrawn), i feel that achieving sales on the day of anything more than 70 will be a great result for Allsop Space. I have no doubt that anything that does not sell on the day will be secured through post-auction negotiations, in fact, home buyers might have a real opportunity to do just that. Watch this space..!

We will be tweeting in live time, on a lot by lot basis, on Thursday from Twitter account @BuyersBrokerLtd . Read more by Buyers Broker in the Evening Herald tomorrow as we prepare for Thursdays auction.

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