Bidx1 (Formerly Allsop) November Auction

The_Conductor

Well, the Bidx1 auction is up on the internet.
196 residential property lots- and another 130 odd commercial lots (and by god, some of them are 'odd'.........)

Link to auctions here (1-196 are residential lots- 197 to 320 are commercial). Further lots to be added up to the auction date (the 9th Nov for residential lots- the 10th of Nov for commercial lots)

myshirt

Few interesting lots in there.

Can't believe the bargains still to be had in Longford where you can still buy for less than the cost to build. And in a place that isn't Leitrim.

Nice property in there in my home place of Limerick at a great price also, I'm almost tempted myself. It's near the hospital, the M7, and in a University city. With the rental market in Limerick at the moment, you are talking a tasty yield on that property.

myshirt

crow_bar wrote: »

you can still buy below the cost of construction in much of limerick city , let alone longford or leitrim

Absolutely, Limerick is great value. In Longford you can get a 1,800 sq ft four bed detached with landscaped garden for 120k, or a standard 3 bed terraced for 60k. Say you were a public servant, that's amazing.

Graham

myshirt wrote: »

Few interesting lots in there.

Can't believe the bargains still to be had in Longford where you can still buy for less than the cost to build. And in a place that isn't Leitrim.

The last few lots in Longford have sold for significantly more than the reserve.

Remember it’s an auction, you’re not looking at asking/sale prices.

karenalot

The sale prices at these auctions over the years has always baffled me. Many properties that sell are ones that have languished on the market with different estate agents prior to being taken over by Allsop. Then on auction day they sell way over the previous original asking price.

It's as if buyers don't search Daft or My Home in the areas they are purchasing and just wait for the auction catalogues to come through.

johnnyskeleton

karenalot wrote: »

The sale prices at these auctions over the years has always baffled me. Many properties that sell are ones that have languished on the market with different estate agents prior to being taken over by Allsop. Then on auction day they sell way over the previous original asking price.

It's as if buyers don't search Daft or My Home in the areas they are purchasing and just wait for the auction catalogues to come through.

Possibly there are title issues and when it got to exchange of contract stage the sales fell through, so they decided it lash it up for auction and hope the potential purchasers don't read the legal bundle.

duffysfarm

i have noticed 4 or 5 properties which were on sale on daft and are now up on allsops. Seems as though the banks had them for sale with estate agents, properties arent selling and they are now auctioning them off.

The_Conductor

duffysfarm wrote: »

i have noticed 4 or 5 properties which were on sale on daft and are now up on allsops. Seems as though the banks had them for sale with estate agents, properties arent selling and they are now auctioning them off.

Noticed this too.......
Something does seem to be up.

duffysfarm

yes, i would have thought also that this is a bad time of year to be selling property? coming to the end of the year, christmas and dark evenings etc.

The_Conductor wrote: »

Noticed this too.......
Something does seem to be up.

Bigus

Apart from the negatives ,receivers, bad local feeling etc etc, and having to suss out boundaries and legals on multiple properties in advance

There are 2 fundamental benefits with Bidx1

1. If they make the reserve they sell for on the day ,unlike other auctions which have only teaser reserves and often properties are withdrawn or go into negotiations.

2. Contracts are closed very quickly with no messing, but you need to be getting value as your solicitor can't nitpick either.