Some of the properties are being sold by private treaty and some are by auction. It is clearly marked on each property’s listing whether it is a private treaty or auction sale. Remember bids in an auction are legally binding whereas offers in private treaty sales are not binding until contracts are signed. Bids on an auction property cannot be withdrawn once placed. You are strongly advised to take professional advice before placing a bid on an auction property.
Offers on properties being sold by private treaty can be withdrawn without penalty. In a private treaty sale, nothing is binding until contracts are signed. Bids on properties being sold by auction are legally binding and once made, cannot be withdrawn.
Property Seller FAQs
Auctioneera offers property vendors the choice to sell their property by private treaty or by auction as per their preference.
Bids on properties being sold by auction are legally binding. If a property receives a bid of the reserve price or greater, the vendor is legally bound to sell the property. Offers on properties being sold by private treaty are not legally binding. The buyer and seller can decide not to proceed with the sale at any point right up until contracts are signed. For our full guide on private treaty versus auction, see: https://www.auctioneera.ie/auction-versus-private-treaty
Yes absolutely if you want one.
Private Treaty - Vendor FAQs
In private treaty sales, the vendor of a property puts it on the market, usually via an estate agency, and invites offers. Offers on private treaty properties are not legally binding. The FAQs in this section relate to vendors who choose to sell their property by private treaty.
Absolutely yes. We take high quality, professional photographs and floor plans. We advertise the property on Daft, MyHome and our own website. We have literally thousands of buyers on our books owing to the volume of property that we sell. We show the property to every interested party, daytimes, evenings, weekends, weekdays; every interested party is brought to the property. So if you choose Auctioneera to sell your property, you don’t just get the lowest estate agency fees but also an assurance that we will get you the absolute best price possible for your property.
Estate agencies are obliged to advise any interested party of the current offer on a property that they are selling. By putting our offers online, buyers around the world can monitor the bidding in real time as well as submit their own offer 24/7. It’s just far more efficient to transparently display the latest offers on our website. Because we do have offers displayed on our website, we get thousands of visitors each week browsing properties so if your property is on our website, property buyers in Ireland and beyond will see it and can bid on it!
Your Fee is Literally a Fraction of the Next Best Price I Was Quoted from a High Fee, Commission Based Estate Agent – What’s the Catch!
There isn’t one. Talk is cheap so please check out our reviews page by clicking here.
My Local Auctioneer has Throngs of Prospective Buyers on His/Her Books Dying to Buy Properties Like My One – Maybe I Should Go With Them?
Every serious buyer is on Daft and MyHome. So long as your property is advertised on these websites, 100% of the serious buyers in the market will know your property is for sale. We also have a database of over 10,000 buyers so rest assured that we will leave no buyer behind!
There is no obligation on you to accept any offer. We can negotiate with the highest bidder or run a new process. The vendor retains total control at all times as to whether to proceed with the sale.
Yes and in fact it is recommended to list the property for sale in parallel to the probate process. Selling a property and the granting of probate share the same characteristic of being lengthy, often tortuous, legal processes. Hence running these in parallel instead of sequentially makes sense.
Auction - Vendor FAQs
Bids on properties being sold by auction are legally binding; this contrasts with private treaty sales where offers are not legally binding. If a bid of the reserve price or greater is made on a property being sold by auction, the vendor is legally obliged to sell the property. Auctions offer a quicker way of selling property. The FAQs in this section are for vendors who choose to sell their property by auction.
The reserve price is the minimum price that a vendor is willing to accept for their property. If a bid of the reserve price or more is made, the vendor is legally bound to sell the property. If there is strong interest in a property, the final price can be bid above the reserve price.
€1995+VAT no sale, no fee.
Property Buyer FAQs
Auctioneera sells property by auction and by private treaty. On each property listing, it will say whether it is being sold by auction or private treaty. It is crucial that you know how the property is being sold. If you bid on an auction property, that bid is binding. This contrasts with an offer on a property being sold by private treaty which is not legally binding.
Private Treaty - Buyer FAQs
The FAQs in this section relate to properties being sold by private treaty.
If you offer the guide price, we will automatically put a deadline for offers on the property. Should you offer below the guide price, we will continue scheduling further viewings with the intention of getting an offer of the guide price. The longer the property stays on the market, the more interested parties who may emerge to bid on it. If you are seriously interested in a property, offering the guide price is the best approach to move things forward.
There is no cost to make an offer on any of our private treaty properties.
This means that we have set a deadline for offers on the property. All interested parties should submit their best offer well in advance of the deadline. Once the deadline expires, we present the top three offers to the vendor for consideration.
All offers are displayed on our website in real time. No details pertaining to the bidder are shared with anyone other than Auctioneera staff and the vendor.
We meet all bidders in person before we allow them to submit an offer on a property. Proof of funds documentation is verified before an offer is formally presented to the vendor for consideration.
Yes but such an offer will not trigger a deadline for offers and we will continue to arrange further viewings in an effort to get an offer of the guide price. If you are serious about buying a property, an offer of the guide price is the best approach to move things forward.
Auction - Buyer FAQs
The FAQs in this section relate to properties being sold by auction.
There is a €99 non-refundable processing fee.
In order to place a bid on a property, you must provide a €2458 deposit. If you are not the successful bidder, this deposit is returned to you. If you wish to bid on multiple properties, you need to provide multiple deposits e.g. if you want to bid on 4 properties, you need to provide a €2458 deposit on each i.e. €9835 in total. If you are the highest bidder on a property at the close of bidding, the €2458 will be retained in Auctioneera’s client fund account - this is a partial payment and will be deducted from the overall balance due on completing the transaction.
The bidding opens as soon as we list the property for sale on our website. Once a bid of the reserve price is made, we put a bidding deadline in place.
No, bidding is exclusively on our website.
Once a bid of the reserve price is made on a property, we automatically set a bidding deadline, typically of 7 days, from the day of receipt of such a bid. The agent in conjunction with the seller can amend the deadline.
The closing date and time for each property is listed on our website. If a bid is made within two minutes of the close, we will automatically add an additional two minutes to facilitate potential counter bids. Once a period of two minutes passes during which no bid is placed, the bidding will close.
If a bid of the reserve price or greater has been received, we will immediately sign contracts on behalf of the seller and the highest bidder; these are legally binding on both parties. The closing date for the property will be as per the contract for sale which is available on the property’s listing on our website. The contract deposit will be due immediately; the bidding deposit already paid can be netted against the contract deposit balance due.