Frequently Asked Questions

Q. What order will the lots be offered in?

A. The Lots are offered in numerical order as listed in the online catalogue.

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 and on Daft.ie.

Q. What is a Reserve Price/AMV?

A. The Reserve Price is the price stipulated as the lowest acceptable by the vendor. It is also known as ‘AMV’ which stands for Absolute Minimum Value.

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 Reserve Price/AMV.

Q. How do I register to bid at the auction?

A. You will need two forms of identification to register, one photographic (i.e. valid Passport / Driving Licence), and one proof of address ( Utility Bill / Bank Statement dated ) within 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’s details, deposit payment details and your contact details.

Q. If I am a successful bidder what do I have to pay?

A. A deposit of 10% of the purchase price (minimum of €5,000) is payable on all purchases. If your bid is successful, our system will automatically charge your registered card the minimum deposit of €5,000 and you will be expected to pay the balance if any via Bank Transfer within two business days.

All successful purchasers will be required to pay a Reservation Fee of 1% of the purchase price or €2,000, plus VAT. The minimum fee will be automatically taken at the same time as the deposit and you will be expected to pay the remainder if any via Bank Transfer within two business days. You will receive an automated email with the payment details but if you need clarification please contact BRG Gibson Auctions directly. Failure to pay the relevant deposit and fees could result in a breach of contract.

Q. How is the deposit payable?

A. Once your bid is successful we will automatically charge your registered card:

  • Minimum Deposit - €5,000
  • Minimum Reservation Fee - €2,000 + VAT

The balance payment must be made by Bank Transfer only. All payments must be transferred within two business days. For example, if you were to purchase a property at €300,000:

  1. We would charge your debit card the minimum Deposit of €5,000 and the minimum Reservation Fee of €2,000 plus VAT, total of €7,400.
  2. The 10% Deposit total should be €30,000, since the €5,000 minimum has already been charged you will be expected to transfer the balance of €25,000 within 24 hours of the online auction finishing.
  3. 1% Reservation Fee total should be €3,000, since the €2,000 minimum has already been charged you will be expected to transfer the balance of €1,000 plus VAT within two business days.

Q. Can I pay the Deposit and Reservation Fee in cash or by cheque?

A. No. We cannot accept cash or cheque payments. 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 completion date is stated in the Contract.

Q. How can I view the legal pack and inspect the contract before the auction?

A. These are available to view and inspect on our website and are uploaded onto the individual property page on our website.

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. All post-auction sales are under our Auction Terms & Conditions.

Q. If I do not complete the purchase 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 as mortgage security. Please consult with your Mortgage Adviser.