The final Allsop Online Auction of 2015 will take place on the 25th November 2015. The online auction will commence with bidding at 8am with the first lot closing at 10am and the balance lots following thereafter.
There are 60 lots with a mix of residential and commercial properties. The properties for sale are located all over Ireland, from Donegal to Kerry and Cork to Louth. The auction is bound to attract interest from home seekers and investors.
To register for the Allsop online auction, you must create an Allsop Online Auction account. You should note that a bidder security of €5,000 is required to bid in the auction and this is payable by credit/debit card. The Allsop website has a list of frequently asked questions about registering and how the auction works. The Irish Times also has a useful video on bidding for property online.
If you are interested in buying in this online auction, or indeed any auction, what should you do or do you need legal advice? Below as some tips:
1. If your bid is accepted, you will be bound to buy the property.
2. Buyer beware applies! This means you buy the property as is. If your bid is accepted and there are structural or other issues with the property, or any defects on the title you weren’t aware of, you will be unable to withdraw from the contract.
3. You should obtain a surveyors report well in advance of the auction and be satisfied with the contents of the report. It would also be a good idea to give the surveyors report to your solicitor.
4. You will need to get an experienced conveyancing solicitor to check the contract and investigate the title before you bid. You should instruct your solicitor as early as possible. Your solicitor will need a reasonable period of time to not only check the contract and investigate the title but also time to raise queries with the vendor’s solicitor and allow time for replies. Your solicitor will be able to advise you about the contract and title.