Irish Auctions PROPERTY AUCTIONS. a guide to buying property at auction in Ireland. a guide to buying at. auction. in Ireland PROPERTY AUCTIONS

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1 Irish Auctios a guide to buyig property at auctio i Irelad a guide to buyig at auctio i Irelad

2 a guide to buyig property at auctio i Irelad before the auctio 1 Fid out iformatio 3 Check Reserve Prices Iformatio o all properties for sale, alog with dates of future auctios, ca be obtaied as follows: Olie catalogue To access the olie catalogue please visit By registerig at you will also be able to receive catalogue previews ad maximum reserve prices. The reserve price is the lowest price that the seller is willig to accept for the property If the biddig does ot reach the reserve price, the the seller is ot required to sell the property. The reserve price itself will ot be disclosed. 2 Idetify lots Look through the catalogue ad idetify those lots that may be of iterest. A list of properties ca be foud at the frot of the catalogue. Remember some lots are offered with vacat possessio, some are teated ad some may be part vacat.

3 a guide to buyig property at auctio i Irelad before the auctio 4 Chages to the iformatio Occasioally chages eed to be made to the lot iformatio or the Special Coditios of Sale. These ca be foud o the website uder Addedum. Before you bid it is essetial that you check for ay chages that may have bee made, eve up to the day of the auctio. 5 View the property Ope viewig times for each lot, where available, will be advertised o 6 Register your iterest Please register or logi as a member o our website ad dowload legal documets if you are iterested i ad dowloaded legal documets if you are iterested i a particular lot. That way we ca iform you of ay importat chages, such as a withdrawal of the lot. 7 Obtai legal advice It is importat that you obtai idepedet legal advice before biddig. The vedor s solicitors prepare legal packs cotaiig (where applicable) Buildig Eergy Ratigs (BERS), special coditios of sale, title deeds, leases, office copy Lad Registry etries, searches ad replies to pre-cotract equiries. These may be available to dowload from Alteratively, they will be available from the vedor s solicitors. These documets should be passed to your legal adviser. They will help you make a iformed decisio about the lot. If you eed further legal iformatio please cotact the vedor s solicitor whose details will be o the website or prited at the ed of the catalogue. Legal packs will usually be available for ispectio i the auctio room. Remember that you buy subject to all documetatio ad terms of cotract whether or ot you have read them. 8 Obtai a survey If you decide to have a survey doe, please ask your surveyor to call us directly to make arragemets for access to the property. 9 Arrage fiace If you eed to arrage a mortgage it is importat that you obtai a bidig offer from your leder before the auctio day. Most buildig societies ad baks will wish to istruct a surveyor to prepare a valuatio report before makig a mortgage offer so you will eed to make your mortgage applicatio as early as possible. You will usually eed to complete your purchase four weeks after the auctio. You should discuss this with your leders to make sure that this will ot be a problem. 10 If you are uable to atted Proxy/Telephoe/Iteret Biddig If you are uable to atted the sale, you ca bid by telephoe (we will telephoe you whe the lot is beig auctioed), by proxy i writig (you specify your maximum bid ad the auctioeer bids o your behalf) or olie. I each case we shall eed a completed registratio form ad a cheque to cover your deposit. A bidder s registratio form is prited i the catalogue or ca be dowloaded from the website. 11 Fid out whether the property is still available Please ote that, i certai circumstaces, lots may be withdraw from the auctio sale. We strogly advise potetial purchasers either to look o our website or call us o the day before the auctio to make sure that the lots i which they are iterested are still available. 12 Uderstad all terms ad coditios Buyig property at auctio is differet to buyig property privately ad we strogly advise potetial purchasers to check that they have read ad uderstood all the various legal documets ad terms & coditios. More iformatio ca be foud i the Notices to Prospective Purchasers which are prited i the catalogue or available to dowload. 13 Sold or withdraw lots It is possible that some lots will be withdraw before the auctio.

4 a guide to buyig property at auctio i Irelad at the auctio 1 Thigs to brig with you: Baker s draft or cheque book with at least oe cheque for each lot. Please ote that either cash or credit or debit cards are accepted. Idetificatio your drivig licece or passport (for photo ID) ad utility bill or bak statemet (for proof of your address) Details of the solicitors you ited to use 2 Do I eed to register? Yes, you eed to register o our website i advace of the auctio to be able to atted. 3 Order of sale This is a complete ad up to date list of all the lots that will be sold o the day. It lists the order i which they will be offered. Some lots will have bee withdraw so you should check the order of sale carefully to esure that the lot you have come to buy is still icluded i the sale. 4 Addedum Occasioally chages eed to be made to the lot iformatio or the Coditios of Sale. Before you bid it is essetial that you check the prited addedum ad liste for ay aoucemets made by the auctioeer detailig ay chages that may have occurred. 5 Start of auctio The auctio will start promptly at the time prited i the catalogue. The auctioeer will make a umber of aoucemets about the auctio procedure. A summary of the auctioeer s pre-sale aoucemets is prited i the catalogue ad appears o the website. 6 Biddig The auctioeer will aouce each lot ad refer to ay last miute chages. The curret lot umber is usually displayed o a scree ext to the auctioeer, which will also display the last bid take for the lot beig offered. The auctioeer will ivite bids at a particular level ad you ca make this bid by raisig your had or catalogue. The auctio room is likely to be full, so please make your bids clear ad esure that you have the auctioeer s attetio. All lots will be offered for sale subject to reserve price (uless stated otherwise). Please ote that questios will ot be take by the auctioeer from the floor oce the auctio is i progress. If you do have ay last miute queries, you should speak to a member of the Allsop Space team. Our advice, if you have ay doubts, is ot to bid. The auctioeer will regulate the biddig icremets ad the property will be kocked dow to the highest bidder, but ot util the auctioeer wars you by sayig goig oce, goig twice, for the third ad last time SOLD. The hammer will fall at this poit ad, if you are the highest bidder, assumig that the reserve is met or exceeded, you have ow bought the lot.

5 a guide to buyig property at auctio i Irelad at the auctio 7 O the fall of the hammer Whe the hammer falls, if you are the highest bidder, you will have bought the lot ad a legal ad bidig cotract will have bee formed. The property is usually at your isurable risk from completio. However, you may wish to isure the buildig upo exchage. What happes if I am the successful bidder? Whe a lot is kocked dow to you, you will be asked to complete a purchaser s slip, give a deposit cheque ad provide idetificatio. Purchaser s Slip You will be asked to give your cotact details, the ame of the purchaser to appear o the memoradum of sale (which caot be chaged later without the agreemet of the seller) ad details of your solicitor. If you are biddig o behalf of somebody else, either a perso or a compay, we will eed details of their ame, address ad telephoe umber. A copy of this form appears i the catalogue ad is available to dowload. Deposit cheque You will be asked for a cheque for the deposit, ormally 10% of the purchase price (subject to a miimum amout of u4,500). Please ote that cash deposits are ot accepted. Persoal cheques, compay cheques ad bakers drafts are acceptable (subject to the Coditios of Sale ad to the provisios of clause 4 of the Notices to Prospective Buyers). Deposit cheques must be i EUROS ad made payable to Allsop Space Limited. 8 Exchage of Memorada Completio Completio will usually take place o the first workig day after the expiratio of five weeks from the fall of the hammer (or as varied by the Special Coditios of Sale) uder the supervisio of your solicitor. After completig the purchaser s slip ad hadig over your cheque, you will be give a lot card by way of receipt. After approximately miutes you should approach the cotracts desk i the room ad had this card to the staff there who will ask you to sig the Memoradum of Sale. You will take away the Vedor s part memoradum ad give this to your solicitor. We will sed your siged memoradum to the Vedor s solicitor ad completio will take place as specified o the special coditios of sale. Please ote: Please do ot leave the auctio room without takig your siged memoradum. Properties are ot sold subject to cotract, subject to fiace or subject to survey whe you buy at auctio. They are sold ucoditioally. If you are the successful bidder, you are legally obliged to complete the sale. 9 Usold lots I the evet that the property that you wish to buy does ot sell, you should register your highest bid with us before you leave the auctio room. Idetificatio We will ask you for photo ID (such as drivig licece or passport) ad proof of your address (for example, a utility bill or bak statemet). We shall take copies o the day. Results Results ca be viewed o our website,

6 Irish Auctios cotacts Visit for further iformatio icludig: Full property details Legal documet dowloads Addeda Updated maximum reserve prices Live lik to auctio Results Usold lots Further iformatio If you require further iformatio about buyig or sellig at oe of our auctios, please cotact: Dubli Office: +353 (0) Lodo Office: +44 (0) PSRA Registratio No