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Land Sale Questions

  • 14-01-2014 12:28PM
    #1
    topbrand
    Closed Accounts Posts: 9 ✭


    I will be selling some land in the near future. As I am a newbie at this, would like to hear any advice you might have. I have been told that the auctioneer will charge between 2 to 2/2% commission. Is this high or fair. Value of land €140 to €180 approx.


Comments

  • #2
    Nekarsulm
    Registered Users, Registered Users 2 Posts: 11,297 ✭✭✭✭Nekarsulm


    We presume you mean 140 to 18
    0 thousand euro sale price? try and set a ceiling on the fees, shall we say 3000 euro to include advertising? lots of auctioneer charge 1.5% fee. Remember VAT applies on fees. advertising in local papers is very expensive, you would get into the times or indo for very little more. a biggish roadside sign will cost 300 easily.


  • #3
    Nekarsulm
    Registered Users, Registered Users 2 Posts: 11,297 ✭✭✭✭Nekarsulm


    Also remember if you end up going for auction you Will be billed for hire of a hotel room etc. Legal fees can be as much as the auctioneer. if going for auction you may need the solicitor to be present on the day ,another charge to consider. you have checked out the tax implications of selling, i hope?


  • #4
    topbrand
    Closed Accounts Posts: 9 ✭topbrand


    Nekarsulm wrote: »
    Also remember if you end up going for auction you Will be billed for hire of a hotel room etc. Legal fees can be as much as the auctioneer. if going for auction you may need the solicitor to be present on the day ,another charge to consider. you have checked out the tax implications of selling, i hope?
    Thanks for the replys. Haven't decided yet on auction. Its an executor sale so have all the tax implications known at this stage. Didn't think of the hotel room fees + solicitor. Will be discussing all this with auctioneer in the next few weeks.


  • #5
    Farmer Pudsey
    Registered Users, Registered Users 2 Posts: 6,326 ✭✭✭Farmer Pudsey


    topbrand wrote: »
    Thanks for the replys. Haven't decided yet on auction. Its an executor sale so have all the tax implications known at this stage. Didn't think of the hotel room fees + solicitor. Will be discussing all this with auctioneer in the next few weeks.

    If an executor sale usually it is an auction. 2%+vat works out at 2.46% of sale price. Have you asked the solicitor what his total fees for will will be this is usually the shock everyone gets. they often try to charge 3-10% of value of estate. On the other hand he will harly charge extra to attend sale.

    Agree other charges with auctioneers they can add up and Vat is on top.


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