Patrick Durkan, auctioneer
AUCTIONEER Patrick Durkan didn’t even get a chance to put the ‘for sale’ sign up as he sold a house in just 23 minutes.
He reluctantly confirmed the recent unique deal when contacted by the Limerick Leader. Mr Durkan said when you put a property up on Daft it can take between two to five hours to go up.
“This one went up in 40 minutes. It went up at 10.40am. By 10.41am I got an email about the house. He asked, ‘Can I see the property?’ I said I couldn’t because of the restrictions but he had watched the virtual viewing,” said Mr Durkan.
The very interested party was obviously happy with the video as he offered €30,000 above the asking price there and then.
Mr Durkan rang the vendor. He or she gave the Ok. They went sale agreed at 11.03am.
“What I liked about it is that the seller said it was a lovely place to grow up in. They asked about the buyer and I said he seems lovely and very genuine,” said Mr Durkan.
The auctioneer is confident the vendor wouldn’t have got a better price by waiting to test the market.
“It was a very good offer. I would be afraid he would have gone somewhere else,” said Mr Durkan, who declined to give any exact details when pressed.
All he would say is that it is a three bedroom mid terrace home in Limerick city.
Mr Durkan, originally from County Mayo, has been an auctioneer and valuer in Limerick for over 20 years.
“I have never seen anything like this – not even in the boom times. It is a sign of the interest we are seeing on the ground. The market is – I won't say paused – but very little is coming on the market.
“I think people are not ready to put their properties up yet because they think that the restricted viewings might hinder the price. In my opinion demand out there far outweighs the circumstances at the moment,” said Mr Durkan.
And Limerick city and county is proving very popular for those wanting to relocate from Dublin and abroad because they can now work from home.
“There is an incredible demand to live in Limerick at the moment. Something that the young gentleman who wrote that article in Forbes magazine didn’t realise. The city and county is very popular,” said Mr Durkan.
Another interesting point he makes is on the quality of houses, albeit the numbers of properties being put up are small, coming onto the market.
“The quality of stuff coming on the market is incredible. A lot of my business is valuations. A lot of houses you go into you leave them with your mouth wide open.
“Covid seems to have turned everybody into DIY geniuses. What people are doing to improve their houses is amazing. The quality of upgrading, and interior decorations, and colour schemes is phenomenal.
“The inside of some houses in Limerick would blow your mind away at the moment. Home owners are certainly putting their best foot forward,” said Mr Durkan.
The buyer of the house in Limerick city certainly put their best foot forward when they offered €30,000 over the asking price and bought it in 23 minutes.