Smith Property to host online auction
Smith Property is preparing to host an online auction next month on Thursday, March 13, with eight lots set to go under the hammer.
“Most of the properties are sub €100K, making them very affordable in this day and age,” Raymond Smith told the Celt this week.
The properties up for grabs include a site, semi-derelict cottages and fixer-uppers, as well as affordable homes in Ballyhaise, Killeshandra and Kilnaleck.
Mr Smith finds that the success of vacant property grants is driving sales of these type of properties.
“It’s making them more attractive. There are real incentives to buy those types of property. The grants allow people to purchase and have a grant avail to help carry out works, leaving it more appealing and also more valuable for the seller,” said the auctioneer.
Grants of up to €50,000 are available to renovate a vacant property (vacant at least two years) and up to €70,000, if the property is derelict. Properties must have been built before 2008 and other terms and conditions apply.
Mr Smith agrees that the grants have been a “double-edged sword” of sorts in terms of boosting the prices or values of such properties but feels there is still benefit for both buyers and sellers where the grants are concerned.
The lack of properties on the market generally is also making fixer-uppers more attractive.
“Everybody has a certain budget. These semi-derelict or vacant properties are appealing to people who might just buy without a mortgage and do up the house over a period of time, out of their own savings or cashflow,” said Mr Smith.
They are also appealing to multiple types of buyers - those who wish to live in them, as an investment, or retirement home.
Standout lot
The star lot of the day, according to Mr Smith, is Boolies on the Kells Road in Oldcastle, Co Meath.
It’s being advertised with an advised minimum market value of €350,000.
“It’s a former country house hotel, it’s a spectacular stone-cut building at the foothills of Lough Crew and the start of Boyne Valley. It commands a great road presence along the Kells Road and has enormous potential for many uses - as a project or a real investment property,” said Mr Smith.
Set on two acres, the landmark property extends to 12,000 square feet over two floors with connection to services.
98% success rate
Mr Smith is proud to report a 98% success rate for his online auctions in 2024 and says properties achieved selling prices typically 35% above the advised minimum market value.
With that in mind, he is seeking more properties for his next online auction set to take place on May 1. He’s offering prospective sellers a free valuation of their property.
Register
As the auction is online, those interested in bidding for any of the properties must register in advance at www.smithproperty.ie/auctions
Mr Smith finds the online format is proving popular. “It’s transparent, it’s stress free, there’s no messing and everything is digitally exchanged. Sales close within 28 days afterwards,” he said.
Contact us
For more information on any of the properties set to go under the hammer, contact Smith Property in Cavan on 049-4362244 or in Ballyjamesduff on 049-8544283. Those looking for a valuation on their property can also contact the same numbers.