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Frequently Asked Questions

Frequently Asked Questions for Buyers

Q. Do I have to pay to watch an auction?
A. No! Of course you don’t. It’s a public auction and anybody can watch. You can also watch the auction live online.

Q. Why do so many people buy and sell at auctions?
A. Auctions are convenient, time-saving and hassle-free. Buyers at auction register prior to auction so they are committed to buying the property they bid for.

Q. Can I view the property prior to auction?
A. Yes. Every property is available to view prior to auction and details of the viewing times are contained with each property.

Q. Are there any other benefits for ‘Buyers’ at auctions?
A. Yes! The choice of properties for auction are substantial and property prices are offered at realistic market values. The sales process is very efficient and properties sold at auction will typically complete within 28 days, making buying at auction the fastest way to buy your next property. You can buy with confidence knowing that the Merlin Property team will guide you through the buying process.

Q. Buying at auction gives you important protections, what are they?
A. Prior to entering a property for auction, Merlin Property will complete all pre sales checks to ensure that the property is suitable for sale.

Q. Have you any advice to give me before I start bidding?
A. Yes! It is advisable to use your first trip to the auction to familiarise yourself with the way that properties are sold. Prior to the property sale, the auctioneer will announce all details relating to the property and will include any additional information from the addendum.

Q. Okay! How do I bid?
A. Simply catch the auctioneer’s attention by waving your bidding number. As the bidding progresses the auctioneer will constantly look back to you to see if you are still interested. Always listen very carefully to what the auctioneer is saying about the property being sold. Display screens in the auditorium will also help you keep track of the auction. You can also bid live online.

Q. How do I get a bidding number?
A. Before the auction starts you are required to pay a deposit of €2,000 and you receive a bidding number. If you do not purchase a property at the auction your deposit is refunded.

Q. What is the ‘Reserve Price?’
A. It’s the minimum amount of money that the seller (vendor) is willing to accept for the property. The auctioneer will not sell a property for less than the reserve price without the sellers consent.

Q. What is a ‘Provisional Sale?’
A. A provisional sale occurs when the last bid taken is below the reserve price. The seller is then contacted to see if this bid is acceptable.

Q. Does the auction sell commercial properties?
A. Yes, Merlin Property certainly do.

Q. Can I change my mind after I buy a property?
A. No, sorry! A legal contract is entered into once the hammer has fallen and payment of 10% of the property value is required on the day of the auction either by banker’s draft, a cheque drawn on an Irish bank or electronic transfer.

For further information on our services, please contact the Merlin Property Team on 01 4395470.