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Sherry FitzGerald John Rohan brought to market a prime investment property located conveniently to Poleberry, Waterford. The property comprised of 6 apartments being sold in one lot by online auction, which was powered by Offr. The apartments are fully occupied, with a total rental income of €57,300 per annum.
The online auction took place on 25/03/2020 at 12 pm, with an initial finish time of 1 pm. All parties (Agent, solicitor, buyers and sellers) involved were remotely located to complete the legally-binding transaction. The Offr process digitised the traditional auction sale, through Stripe' s integration with the platform, all booking deposits were captured prior to the auction.
Thirteen bidders registered their interest to bid, from which six private investors engaged and submitted a bid. The reserve was instantly met with an opening bid of €380,000; €20,000 over the guide price. During the auction, 29 competitive bids were placed on the property, 21% of which were made during the bid extension. The final bid of €580,000 came in at 1.03 pm.
On completion of the auction, all parties were notified of the results. The unsuccessful bidder's deposits were released and the successful bidder's deposit was captured. Contracts were sent by the agent and signed digitally via DocuSign to complete the digital transaction.
Blanket national newspaper coverage of the successful online property transaction on Tuesday 25/03/2020 by Sherry FitzGerald, powered by Offr
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