Auction property information

[ABC 123]

Oh dear a little bit of egg on the face for Osborne King at yesterdays auction

John Martin prior to the commencing the sale and keen to capture all bids announced that even if you weren't registered you could still bid.

The ravel dropped on lot 8,6 Castle Street, Lisburn at 42k the gentleman bidder on the front corner seat then made his way to the awaiting solicitor.

Around lot 20 the auctioneer announced that there was a problem with the bidder on lot 8 and would the underbidder or another with an interest make themselves known.

I note on the auction results it is listed as sold at 42k!!!. cant see it away at that money

I wonder was he registered

[bookaboo]

Are the results of that Osbourne King 14th June auction available online anywhere?

Thanks.

[Whiteabbey]

Are the results of that Osbourne King 14th June auction available online anywhere?

Thanks.

Here you go :

http://www.osborneking.com/auction-list.aspx

[bookaboo]

Thanks

wrg to unregistered bidders, isn't that asking for trouble?

It may just have been some payment issue with that guy but if he's not registered there's more incentive for him to falsely bid up a property owned by an acquaintance.

Also, shouldn't there be a registration deposit that you lose if you bid, win then pull out?

[nemesis]

Not a lot of stunning prices at Gibson auction last night.

Although this was bid up quite a bit from the 70k guide price .....

http://www.brggibsonauctions.com/propertydetails.asp?pid=688&Auction=B

[carrick01]

Advert in the Belfast Telegraph homefinder (thurs) - another auction house with some local property

http://www.countrywidepropertyauctions.co.uk/content/Auctions/Auction_Lots/offset10

Links to local properties below.

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/3-bedroom-property-for-sale-in-Lurgan-BT67-rpache-CHL130255-1372427739

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/3-bedroom-property-for-sale-in-Coleraine-BT52-rpache-CHL130260-1372427776

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/3-bedroom-property-for-sale-in-Cookstown-BT80-rpache-CHL130270-1372427793

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/1-bedroom-property-for-sale-in-Irvinestown-BT94-rpache-CHL130268-1372428824

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/3-bedroom-property-for-sale-in-Lisburn-BT28-rpache-CHL130276-1372427854

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/4-bedroom-property-for-sale-in-Coleraine-BT52-rpache-CHL130277-1372427873

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/2-bedroom-property-for-sale-in-Belfast-BT2-rpache-CHL130267-1372427888

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/4-bedroom-property-for-sale-in-Claudy-BT47-rpache-CHL130257-1372430210

http://www.countrywidepropertyauctions.co.uk/content/Property_Search/Details/2-bedroom-property-for-sale-in-Parkgate-Avenue-BT4-rpache-CHL130273-1372427985

[Shotoflight]

51 props up at Europa on Thurs - no results that I can see.

http://www.btwcairns.com/auctions.aspx

[getdoon_weebobby]

latest brg gibson auction results from last week

http://www.brggibsonauctions.com/properties.asp?Auction=B

next auction on 22 October 2013 (they run about every 6 weeks)

[yadayada]

latest brg gibson auction results from last week

http://www.brggibsonauctions.com/properties.asp?Auction=B

next auction on 22 October 2013 (they run about every 6 weeks)

Some sites down at grazing values there. Probably for the first time since planning laws were introduced.

[getdoon_weebobby]

NEXT AUCTION ON TUESDAY

http://www.brggibsonauctions.com/properties.asp?Auction=B

[Shotoflight]

Bidders snap up bargains as Northern Ireland properties go under hammer

http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/bidders-snap-up-bargains-as-northern-ireland-properties-go-under-hammer-30783306.html

Next up was one of the most eagerly anticipated lots, a modern two-bedroom apartment at The Cloisters on University Avenue, a short distance from Queen's University.

Its capital value was £130,000, but it was offered for auction for just £95,000. It was bought by a couple from Magherafelt for £117,000.

The couple, who preferred not to be named, said it was the first time they had been to a property auction.

"We saw this apartment in the catalogue and had been to see it before the auction," they said.

"There is just such a poor return on money in the bank these days we thought property would be a much better investment.

"So far we are thinking about renting it out, although we have some nieces and nephews who will be coming to Belfast in a few years' time so we'll see."

A similar apartment in the complex rents per month for around £620.

Later in the auction, a three-bedroom bungalow on Palmerston Road in east Belfast sold for £96,000, slightly under the reserve price of £100,000. Its capital value was set at £140,000.

Edited November 30, 2014 by Shotoflight

[JoeDavola]

It was bought by a couple from Magherafelt for £117,000.

The couple, who preferred not to be named, said it was the first time they had been to a property auction.

"We saw this apartment in the catalogue and had been to see it before the auction," they said.

"There is just such a poor return on money in the bank these days we thought property would be a much better investment.

"So far we are thinking about renting it out, although we have some nieces and nephews who will be coming to Belfast in a few years' time so we'll see."

A similar apartment in the complex rents per month for around £620.

At that rental, you'd have a return after costs of under 5 percent. That's not taking into account occasional maintenance/upkeep costs of the flat.

Which doesn't seem great; but then again, the return from the bank is basically nothing these days, so I can see why people with a few quid lying around are throwing their money into housing.

Of course, I think it's too expensive for what it is but then again I think everything is too expensive

Edited November 30, 2014 by JoeDavola

[yadayada]

At that rental, you'd have a return after costs of under 5 percent. That's not taking into account occasional maintenance/upkeep costs of the flat.

Which doesn't seem great; but then again, the return from the bank is basically nothing these days, so I can see why people with a few quid lying around are throwing their money into housing.

Of course, I think it's too expensive for what it is but then again I think everything is too expensive

Minor problem - the rates. £700? I think you're right.

[yadayada]

At that rental, you'd have a return after costs of under 5 percent. That's not taking into account occasional maintenance/upkeep costs of the flat.

Which doesn't seem great; but then again, the return from the bank is basically nothing these days, so I can see why people with a few quid lying around are throwing their money into housing.

Of course, I think it's too expensive for what it is but then again I think everything is too expensive

Don't forget the rates, around £600 - £700. And the void periods. It's not a bargain - unless there's another bubble on it's way.

[Belfast Boy]

*** bump ***

Found this on page 39. Another topic that is suddenly relevant.

 

[Belfast Boy]

One to watch - 28th May 2020.

https://www.wilsonsauctions.com/auctions/land-property/AuctionEvent?saleCode=204508&location=Belfast

[getdoon_weebobby]

Will it go ahead tho ?

[Belfast Boy]

Delayed, postponed, rescheduled... who knows.

Though they may want to test the water sooner rather than later.

[Belfast Boy]

1 hour ago, getdoon_weebobby said:

Will it go ahead tho ?

There is a cached link on google. It appears that Wilsons tried a Virtual National Property Auction on 22nd April 2020. The Portrush property in my first link was in it.

So it looks like they have rescheduled to 28th May, hoping the lockdown will have ended by then. I'm sure they want to get those sold ASAP before the bad economic news really starts.

Edited May 6, 2020 by Belfast Boy

[Belfast Boy]

I was looking at the Portrush property out of curiosity as I regularly drive that road.

The rateable value is £95K and it's for auction at £70k. Relatively cheap at this moment. Then I noticed this -

"The property has been extended into the eaves however, we cannot confirm it would meet with Building Control Regultions."

Caveat emptor - let the buyer beware.

Edited May 6, 2020 by Belfast Boy

[nigooner]

29 minutes ago, Belfast Boy said:

I was looking at the Portrush property out of curiosity as I regularly drive that road.

The rateable value is £95K and it's for auction at £70k. Relatively cheap at this moment. Then I noticed this -

"The property has been extended into the eaves however, we cannot confirm it would meet with Building Control Regultions."

Caveat emptor - let the buyer beware.

This doesn’t mean much, just means that if they’ve put an extra bedroom up there then they can’t market it as a bedroom (Provided they haven’t messed with anything structural that is!). 
There isn’t much of substance in this auction, plus Wilsons have a notoriously low success rate anyway. I’d want to see a few houses in bt4 or so sell at auction to truly test the water.

[Belfast Boy]

11 minutes ago, nigooner said:

This doesn’t mean much, just means that if they’ve put an extra bedroom up there then they can’t market it as a bedroom (Provided they haven’t messed with anything structural that is!). 

When my last house was being built using standard roof trusses, there was an option to upgrade to attic trusses. I didn't bother.

One of my neighbours in the development did a loft conversion. It was fascinating watching the steel beams being inserted by crane through holes in the side of the house to support the roof. 

I'm fairly certain if you do an attic conversion without building control and the necessary reinforcement - then you have messed with something structural. Something that will take a lot of money to put right.

[nigooner]

12 minutes ago, Belfast Boy said:

When my last house was being built using standard roof trusses, there was an option to upgrade to attic trusses. I didn't bother.

One of my neighbours in the development did a loft conversion. It was fascinating watching the steel beams being inserted by crane through holes in the side of the house to support the roof. 

I'm fairly certain if you do an attic conversion without building control and the necessary reinforcement - then you have messed with something structural. Something that will take a lot of money to put right.

I don’t know what this Portrush house is like, but they could have just boarded out the attic and used the loft access hatch with slingsby ladders. The same caveat would normally apply- it’s not a room with building control etc.

Usually agents and auctioneers throw these caveats in without thought or due diligence just to cover their own backside and it saves them doing any homework-  if I owned an EA I’d want as much info as possible up front to answer questions and save time, no point getting the house sale agreed only for it to fall through because there’s no building control cert for an attic that’s been boarded- either find out if it’s an extension or not, at least that way you can save everyone’s time and money!

Edited May 6, 2020 by nigooner

[Belfast Boy]

https://www.propertypal.com/244-islandmore-crescent-gateside-road-portrush/611099

The roof windows would suggest a loft conversion.

You can't just cut out the middle of standard roof trusses without weakening the roof structure. That is why steel is needed for reinforcement.

This probably has to be mentioned legally. Maybe some sucker won't realise the implications until it's too late.

Edited May 7, 2020 by Belfast Boy

[Belfast Boy]

12 minutes ago, nigooner said:

no point getting the house sale agreed only for it to fall through because there’s no building control cert for an attic 

I don't think auctions use the same rules. You bid and win - it's yours! Maybe I'm wrong?