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Auctioneer costs

  • 22-03-2022 11:29am
    Registered Users Posts: 1,292 ✭✭✭ Large bottle small glass

    Hi there, just looking for a steer on people's experience of rates/fixed rates charged by auctioneers.

    If it helps, house is a semi d, worth circa 330k, in a well kept estate in Cork.

    How big a pain in the hole would it be to sell myself and is that a bad idea?



  • Registered Users Posts: 16,404 ✭✭✭✭ rob316

    I always wondered why more people don't try it themselves and save the fee, all the legal work is done by the solicitors so it can't be that difficult.

    You could look at something like auctioneera too, they charge a flat €1700 plus vat

  • Registered Users Posts: 1,140 ✭✭✭ black & white

    1.5% of Sale price plus 23% VAT is what I was quoted by local Auctioneer.

    If you were going to sell it yourself, you'd want to have a fair bit of time free. I didn't consider it but then again, what I'm selling is 150Kish and I can claim fees against taxes (Investment Property)

  • Registered Users Posts: 5,744 ✭✭✭ Claw Hammer

    The main problem with doing it yourself is lack of experience. There are many messers out there who will make your life a misery if they get into a deal. Aside from that it you will not have the experience of negotiating a sale. You may well lose more than the fee through inexperience. You may let people bargain you down too much or not drive people up enough. The owner of a house is often the worst at valuing it. Wrong valuation can lead to poor marketing and a poor price. There is a reason that a lot of people don't sell their own property. It is a major transaction and making a mees of it can be costly.

  • Registered Users Posts: 1,292 ✭✭✭ Large bottle small glass

    Just to close this out, went with a well known auctioneer.

    Agreed fee of 1% plus VAT.

    In hindsight he's value was

    *dealing with the various bids and experience in dealing with which was most likely to materialise/follow through

    *a direct link to give seller a kick to push them/their solicitor

    *tempered my frustration with lack of progress on sale on a couple of occasions; I think if I was handling sale they might have walked.

    Thanks for anyone who posted