Property Auctions

Danjken · 20-10-2009 03:27PM #1

Hi there,

I'm trying to find property auctions for the south of Ireland (Cork area), and thus far haven't been able to find a single one - even for repossessions.

Most Estate Agents seem to call themselves Auctioneers, but every property on their books is for sale via private treaty.

Then again, perhaps I just haven't found the right websites yet. Can anyone link me information about actual property auctions (particularly the south)?

Much appreciated,

Daniel

robd · 21-10-2009 04:49PM

I've wondered that too. I'm afraid there doesn't appear to be any though.

Property market is in stasis.

Repossessions never appear to be advertised as such and banks seem prepared to wait at the moment. Executors appear to be adopting the same stance.

With NAMA only weeks away perhaps we'll start to see some auctioning off in the new year. Perhaps not.

Jo King · 21-10-2009 05:36PM

Auctions are generally well advertised. Most auctioneers have a licence that enables them to act as auctioneers and estate agents. Auctions usually only take place for high end houses. The reason is that a contract is made as soon as the hammer falls. The purchaser has to have their finance in place and have checked the title beforehand. For this reason people are reluctant to buy at auction since there can be money spent on solicitors, surveys and loan applications with no certainty of getting the house, which might be withdraw or sold to another bidder.
There are now very few auctiuons of property in Ireland. Repossessions are usually sold on quietly by private treaty as soon as possible after possession has been granted. The houses repossessed are rarely suitable for auction.
You are most unlikely to find houses for auction, in any significant numbers in the South.

Property Auctions

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