A crowd of nearly 300 people turned up to Ardkill Place in Ballinagh, Cavan to watch the events of a liquidator’s sale of 35 new homes unfold. Buyers and spectators witnessed (gobsmacked and smiling) an immediate sell out of the properties. Not only did the properties sell like hot cakes but a waiting list of 20 … potential buyers are firmly standing in the wings should any of the sales fall through.
It sounds like something out of a dream and even David Reynolds of Gunne Reynolds who handled the sales said “There was a queue of people: it has been some time since I”ve seen a crowd like that. It was nearly like going back to the good times”.
Well, with prices slashed by up to 50% there is no wonder why there buyers were there in their hundreds especially when you could get your hands on a 3 bed property for €100,000, a 4 bed semi for a small bit more at €130,000 and a 5 bed at €185,000!!
So, was this liquidation sale a sign of things to come? Has the Cavan sale given us a flavour of what is to come in the not so distant future? And while liquidation sales might sound well and good to some buyers, if the business of liquidation sales became popular, would they really be good thing?
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- Property Liquidation Sales – Are they good or are they bad?