07 Oct 2022

Leitrim cottage breaks records at auction

Leitrim cottage breaks records at auction

The cottage at Dromahair

Located in the centre of Dromahair, by the Roman Catholic Church, most people did not expect this property to be a record breaker. It’s an older residential cottage with a single story extension and limited attic space on about half of one acre. This is a renovate or redevelop property.

The asking price and reserve price was €40,000. It all got serious at 11 seconds after 11am on Thursday. That was 11 seconds after the Auction started and also when the reserve was hit. 134 bids later the Auction finished with a top bid of €164,000. 134 Bids on a property is a new record for REA Brady.

The Estate Agents REA Brady felt that there was strong interest beforehand. 14 Bidders had registered and paid their bidding deposit to bid. Ronnie Clarke of REA Brady says that “we felt that it would make €65,000” and his boss Joe Brady felt that with that level of interest it might push the final price to €80,000. A gentleman’s wager was had. No one paid the fiver. Flabbergasted is the only fair description of our feeling after this Auction.

On review, this result was made by the level of demand and also the reach of REA Brady’s marketing campaign. The property was listed on 6 different property portals. Of the 14 parties that registered to bid, 4 were bidding from outside of the region. These bidders were central to the competition for this property. Brady’s had bidders from as far away as Boston. This Auction was held on REA Brady’s BIDNOW auction platform.

It has proved to be a very successful and efficient way of selling a property in these times of social distancing. Over the past 12 months REA Brady have had 100% success with this method of sale. REA Brady are now taking listings for April (following unlock hopefully!!) Ronnie, Celia or Joe at REA Brady can be reached at 071 96 22 444.

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