Friday 22 September 2017

Sell your house at bumper auction

A nationwide network of estate agents is about to challenge Dublin's dominance of the property auction market at a time when the market leaders have seen their auctions dwindle.

On April 30 next about 40 estate agents from outside Dublin City will host an auction of about 80 residential and commercial properties in the Shelbourne Hotel, Dublin 2. The move comes at a time when both vendors and buyers are conscious of the uncertainty in the market.

Auctions provide one way to address this uncertainty by offering transparency and real-time prices. The Real Estate Alliance (REA), network will tackle these issues by hosting Ireland's first nationwide property auction. REA is confident that many regional vendors and buyers will travel to Dublin for the event. Many REA regional clients have also invested in Dublin property.

The lots for sale will also include some which have been on the books of banks but will not include recently repossessed homes. Philip Farrell, auction manager of REA says the auction will offer vendors an "opportunity to secure a binding sale in an auction environment."

The deadline for inclusion of properties is 25 March.

Irish Independent

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