Saturday 21 April 2018

Fix it up: Run down in Roscommon

 

The run-down period farm in Roscommon
The run-down period farm in Roscommon

What is it? A very dilapidated detached period farm house at Killina, Elphin in Co Roscommon. The property has four bedrooms and spans 1,571 sq ft. 

Tell me more about the place... 

The house is among hundreds which go to auction on the 22nd of this month as part of BidX1’s online auction system.

The good news?

The reserve is listed as “not to exceed €30,000”. BidX1 emerged from the long-standing Allsop company which ceased to operate recently after many years selling hundreds of properties at a time at its monster attendance auctions. The latter succeeded in selling properties where others had failed by offering guideline prices which reflected true and realistic market values.

It means that you could buy yourself a family-sized house (albeit in very run down condition) for the price of a family saloon car. While the property is in rag order, work has already been commenced on its restoration.

And the bad news? 

This property will likely need everything done with it — a complete stripping out with replastering, rewiring, replumbing, new heating and the roof will likely need plenty of repair work. There are obvious signs of damp. Because BidX1 operates a minimal intervention sales system, the agents state in their marketing brochure that they have not been inside the property to inspect it or measure it; that the information given has been provided by the vendor. It is absolutely imperative therefore that anyone looking to buy this property gets a very good surveyor to go through it thoroughly on their behalf. Roscommon is one of Ireland’s cheapest counties for property for a reason — it is also has some of Ireland’s most isolated homes.

How much to buy it? 

As we said, the reserve is €30,000, although obviously it could go higher on the day depending on the competition.

And to fix it up? 

At least €50,000 will be required, running to €100,000 for a superior restoration of a high spec.

What will I end up with? 

One of the cheapest 1,500 sq ft period homes you can get.

Who do I talk to? 

Patrick McCormack at BidX1 (01) 6375553

Indo Property

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