Limerick Home Auction: Cash Only €50,000 Due to Pyrite Risks

URGENT UPDATE: A house in Limerick’s city center is making headlines as it goes up for auction with a shocking stipulation: buyers must pay a steep €50,000 in cash, and here’s why. The property on Wolfe Tone Street has been confirmed to contain pyrite in its building materials, prompting the auction platform youbid.ie to require upfront cash payments. The online auction is set for September 4, 2025, and the implications of this sale are significant.

Properties affected by pyrite can suffer from severe structural issues known as pyrite heave, which leads to cracking concrete and instability in walls. The Pyrite Resolutions Board warns that these homes can become uninhabitable, making this auction a risky venture for potential buyers.

Despite the alarming condition of the house, its location is a major draw. Nestled in the heart of Limerick, the property boasts easy access to key roads, motorways, and local amenities, making it attractive for those willing to invest. However, interested parties should note that the listing states: “Please note we have not tested any apparatus, fixtures, fittings, or services,” emphasizing the need for buyers to conduct their own thorough investigations.

The property, a quintessential fixer-upper, is situated on a compact lot of just 0.026 acres and extends over 113 sq.m (1,216 sq.ft). The accommodation includes a hall, sitting room, kitchen/dining area, four bedrooms (one en-suite), and a main bathroom. Additionally, there is a private enclosed garden with a small patio area.

According to Daft.ie, this property represents an “exceptional opportunity for cash buyers” looking to invest in a location that is within walking distance to primary schools, shops, and bus routes.

As this auction approaches, the urgency is palpable. Buyers are advised to weigh the risks of pyrite against the potential rewards of owning property in Limerick’s vibrant city center. With the auction date looming, interested parties must act quickly, as properties with such unique conditions tend to attract significant attention.

Stay tuned for further updates as more details unfold regarding this unusual auction and the implications of purchasing a home affected by pyrite.