Q. What order will the lots be offered in?
A. The Lots are offered in numerical order as listed in the catalogue and online.
Q. Can I view the properties before the Auction?
A. Yes, we do Open Viewings prior to every online auction. These will be advertised on our website, Property News and Property Pal. If these do not suit send a viewing request via Make an Enquiry and we will do our best to accommodate your viewing request.
Q. What is a Reserve Price?
A. The Reserve Price is the price stipulated as the lowest acceptable by the vendor. This figure is confidential between the vendor and auctioneer.
Q. Is the Guide Price the same as the Reserve Price?
A. Usually not. The Guide Price is where the auctioneer will start the bidding, the property must match or beat the agreed confidential Reserve Price. The Reserve Price can be up to 10% more than the Guide Price.
Q. How do I register to bid at the auction?
A. You will need two forms of identification to register, one photographic (valid passport/driving licence), and one proof of address (bill/bank statement dated with the last three months). To bid in the Online Auctions you will have to create a secure Auction Passport log in (this can be done via our online bidding site), here you will be able to upload scans of your current ID and bill/bank statement, add your solicitor details, deposit payment details and your details. The ID is a legal requirement.
Q. If I am a successful bidder how much deposit do I have to pay?
A. If you are the successful bidder we will send you an automatic email providing you with the payment details required, the contract deposit will be for the greater of €5,000 or 10% of the sale price excluding VAT (if applicable). Deposits must be made by bank transfer. All buyers will be required to pay a non-negotiable Reservation Fee of €1,500+VAT or 1%+VAT of the purchase price whichever is the greater at the same time as paying the deposit, this payment is to be made by Electronic Bank Transfer or Bank Transfer only. All payments must be transferred within 2 business days.
Q. How is the deposit payable?
A. Payment is to be made by Electronic Bank Transfer or Bank Transfer only. All payments must be transferred within 2 business days.
Q. Can I pay the Deposit and Reservation Fee in cash?
A. No. We cannot accept cash payments due to anti-money laundering laws. Also, we cannot accept a cheque, either personal or business. The only acceptable form of payment will be by bank transfer.
Q. If I am a successful purchaser when do I have to complete the purchase and pay the balance monies?
A. The normal completion period is 14 or 28 days after the sale, although you should inspect the legal pack to confirm this as some lots vary. This information can usually be found in the Memorandum of Sale section of the Legal Pack.
Q. How can I view the legal pack and contract before the auction?
A. These are available to view on our website and are uploaded as and when we receive them from the appointed solicitor. We would recommend that you have your solicitor check the legal pack prior to purchase.
Q. Can I have the property surveyed before the auction?
A. Yes, your surveyor must contact us directly for access.
Q. Do some Lots not sell?
A. Yes, if a Reserve Price is not reached the Lot will not sell. We will continue to market most unsold properties after the auction, so you may still purchase these Lots, however all post-auction sales are under auction terms.
Q. Are there any further costs to pay in addition to the sale price?
A. Yes, a Reservation Fee of 1% of Purchase Price plus VAT or €1,500 plus VAT whichever is the greater. This is non-negotiable, and it will be paid at the same time as the deposit. Payment is to be made by Electronic Bank Transfer or Bank Transfer only
Q. If I do not complete the sale are there any penalties?
A. Yes, firstly you can lose your Deposit and Reservation Fee with the contract being rescinded. Alternatively, the Vendor may sue you for the balance owed and any further losses caused.
Q. Will I be able to get a mortgage on the property?
A. Not all properties are suitable for mortgage security, and we strongly recommend that you arrange for an independent survey to be carried out if you require mortgage finance.
Q. Can I be added to an emailing list to receive updates such as Unsold Lots, Open Viewing Schedules, New Listings, etc?
A. Yes, go to the link http://eepurl.com/GFMdn and add your details. You can unsubscribe at any time. We also recommend following us on Facebook to see the most recently added properties, find us at www.facebook.com/BRGGibsonAuctions/