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Auctioneers Fees Leasing Land

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  • 06-10-2017 8:16pm
    #1
    minktrapper
    Registered Users Posts: 1,984 ✭✭✭


    Anybody know the auctioneers fees of leasing land and collecting money for the term of the lease.


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    #2
    neil7024
    Registered Users Posts: 10 ✭neil7024


    minktrapper wrote: »
    Anybody know the auctioneers fees of leasing land and collecting money for the term of the lease.

    I was quoted 5% plus vat for the term of the lease ex.5 years ,10 years .


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    #3
    wrangler
    Registered Users Posts: 11,057 ✭✭✭✭wrangler


    neil7024 wrote: »
    I was quoted 5% plus vat for the term of the lease ex.5 years ,10 years .

    Is there any advantage in having that auctioneer collecting the money every year, do they guarantee that you'll get paid.
    I used an auctioneer here to do the deal only, he charged 1% of the value of the ten year lease,


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    #4
    kk.man
    Registered Users Posts: 3,425 ✭✭✭kk.man


    Why bother with an auctioneer?
    What added security is an auctioneer if you have an interested party? As far as I can see two solicitors one for each party and draw up an acceptable agreement to both parties.


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    #5
    Sami23
    Registered Users Posts: 2,176 ✭✭✭Sami23


    What would be the average price to pay your solicitor for looking after the leasing in of approx. 25 acres land bearing in mind the Landlords solicitors has done all the paperwork drawing up the lease etc. ?
    Tia


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    #6
    Dinzee Conlee
    Registered Users Posts: 2,138 ✭✭✭Dinzee Conlee


    Sami23 wrote: »
    What would be the average price to pay your solicitor for looking after the leasing in of approx. 25 acres land bearing in mind the Landlords solicitors has done all the paperwork drawing up the lease etc. ?
    Tia

    You're leasing in land, and you are getting your solicitor involved is it?

    Not sure its necessary? We have land let, to a few different people over the years, and there never solicitors involved...
    We did the land lease through an auctioneer - the guy leasing just went in and signed it, and that was that...


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    #7
    Bass Reeves
    Registered Users Posts: 18,152 ✭✭✭✭Bass Reeves


    Sami23 wrote: »
    What would be the average price to pay your solicitor for looking after the leasing in of approx. 25 acres land bearing in mind the Landlords solicitors has done all the paperwork drawing up the lease etc. ?
    Tia

    I think there are a few lease agreements made that are neutral, I think Teagasc and IFA have templates

    Slava Ukrainii



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    #8
    Sami23
    Registered Users Posts: 2,176 ✭✭✭Sami23


    Dinzee Conlee wrote: »
    You're leasing in land, and you are getting your solicitor involved is it?

    Not sure its necessary? We have land let, to a few different people over the years, and there never solicitors involved...
    We did the land lease through an auctioneer - the guy leasing just went in and signed it, and that was that...

    That's what I'm wondering do I actually need a solicitor at all but know I won't get a straight answer from a solicitor :(
    This lease will involve getting the land stamped officially by revenue if that makes a difference to me needing a solicitor


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    #9
    farmersfriend
    Registered Users Posts: 505 ✭✭✭farmersfriend


    wrangler wrote: »
    Is there any advantage in having that auctioneer collecting the money every year, do they guarantee that you'll get paid.
    I used an auctioneer here to do the deal only, he charged 1% of the value of the ten year lease,
    no, they will not guarantee u get paid


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    #10
    Bass Reeves
    Registered Users Posts: 18,152 ✭✭✭✭Bass Reeves


    Sami23 wrote: »
    That's what I'm wondering do I actually need a solicitor at all but know I won't get a straight answer from a solicitor :(
    This lease will involve getting the land stamped officially by revenue if that makes a difference to me needing a solicitor
    No you can send it directly to revenue your self with the stamp payment. Teagasc, IFA or an auctioneer will advise

    Slava Ukrainii



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    #11
    Sami23
    Registered Users Posts: 2,176 ✭✭✭Sami23


    Bass Reeves wrote: »
    No you can send it directly to revenue your self with the stamp payment. Teagasc, IFA or an auctioneer will advise

    So I rang the landlords solicitor to see if I could go in to sign the lease and they are insisting that I need my own solicitor to witness it.
    I asked is that a legal requirement and she said (secretary) she thinks it's in some document alright.


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    #12
    Donald Trump
    Registered Users Posts: 19,025 ✭✭✭✭Donald Trump


    Sami23 wrote: »
    That's what I'm wondering do I actually need a solicitor at all but know I won't get a straight answer from a solicitor :(
    This lease will involve getting the land stamped officially by revenue if that makes a difference to me needing a solicitor




    I think the IFA (or other similar organisation) have a standard land lease agreement that anyone can download.


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