Search

07 Oct 2022

House auctioned in Offaly town exceeds guide price by massive amount

Spollanstown Wood Tullamore

This house in Tullamore was auctioned this morning

AN unidentified buyer was the highest bidder on a repossessed house in Tullamore which was auctioned this morning (Friday, September 16).

The four-bed detached home in Spollanstown Wood had a guide price of €180,000 but after a two-hour online auction the final bid was €245,000.

The sale is likely to proceed at that price but is subject to finalisation of contracts through agent BidX1.

The property was put on the market at 8am and seven minutes later attracted its first bid at the guide price of €180,000.

READ:

It was over an hour before a second bidder emerged, adding €1,000. Then the original interested party pushed the price up to €186,000, resulting in the other prospective buyer making a bid of €187,000, before the first bidder responded with an offer of €197,000 at 9.17am.

BidX1 were due to close the auction at 10am and less than four minutes before that deadline there was new interest and a bid of €198,000.

The next bid pushed the price to €203,000 and two bidders then battled it out until the auction ended, with the final offer coming in at €65,000 above the guide.

Local sources indicated that the house was undervalued at the guide price but it does require some refurbishment after being vacant for a period.

To continue reading this article,
please subscribe and support local journalism!


Subscribing will allow you access to all of our premium content and archived articles.

Subscribe

To continue reading this article for FREE,
please kindly register and/or log in.


Registration is absolutely 100% FREE and will help us personalise your experience on our sites. You can also sign up to our carefully curated newsletter(s) to keep up to date with your latest local news!

Register / Login

Buy the e-paper of the Donegal Democrat, Donegal People's Press, Donegal Post and Inish Times here for instant access to Donegal's premier news titles.

Keep up with the latest news from Donegal with our daily newsletter featuring the most important stories of the day delivered to your inbox every evening at 5pm.