O’Donnellan & Joyce planning next auction
“When is your next auction?” is the big question from callers to the offices of O’Donnellan & Joyce’ over the past few weeks.
The company say that the massive success of their 2014 auctions seems to have left no doubt in the minds of most vendors that if you want to sell your property in a reasonably short length of time the auction route is the way to go.
An auction is an efficient and cost effective way of selling property and, if prepared properly with intensive marketing, advertising and mailing, will result in the greatest possible exposure of the properties offered.
To maximise the effectiveness of the marketing, considerable thought must be given to the guide price, which needs to be tailored to generate competitive bidding in the auction room, thus ensuring that the best price is being achieved.
Selling by auction however, offers a high degree of certainty that a sale will be achieved on a given day and, significantly, on the fall of the gavel an immediate binding contract is formed.
There is the added advantage of the sale being entirely open and transparent. As no further negotiation is permitted the entire sale process, from instruction to exchange of contracts, is achieved within as little as six to eight weeks.
Most types of property are suitable for auction provided that a realistic reserve price is agreed. Auction is now regarded as the optimum method of sale for sellers, ranging from executors, receivers, private investors, owner occupiers and banks.
Once a property sells at auction the owners can go forward in the knowledge that their property is sold and can therefore bid or buy on another property if they wish to do so.
O’Donnellan & Joyce say their auction process is unique. The company have always been synonymous with auctions in the west of Ireland – however they are now rated as one of the best auction houses in the country.
“The areas covered range from Donegal to Limerick and Clifden to Mullingar with enquiries coming in from Dublin and further afield asking if we would facilitate sales in those areas,” said Colm O’Donnellan.
“Despite the fact that O’Donnellan & Joyce sell a large number of properties for lending institutions the majority of the auction properties are still privately owned homes and investment properties.”
The first auction of the year which will take place on Friday, March 6, promises to have a wide selection of properties both commercial and private.
Already set to go under the hammer are commercial properties in Furbo. Ballybane. Ballinalsoe and Limerick. Private sales will include properties in Mervue, Ballybane, Clarinbridge, Clifden, Glinsk and Carna in Connemara together with lands in Craughwell and Clarinbridge among others.
The cut-off date for the March auction is Friday, February 6, so it is envisage that by then the list will have grown.
For more, read this week’s Connacht Tribune.