How to buy a property at Auction

How to buy a property at Auction in Ireland. In this video we review the pros an cons for buying and selling real estate at an auction.

I am also going to answer some questions raised over on Instagram, from fake bids, who mainly sell by auction and impact on mortgages.

For those that do not know me, my name is Shane Fleming I am a chartered property consultant, with over 16-year experience and have been running my own consultancy for 4 years.

Timing, the first benefit for selling by auction is timing, vendors can agree the auction date and be confident that the property will close 4 weeks later.
Bids at actions are binding. Once a bid is accepted at auction a 10% none refundable deposit is required. If the purchaser wishes to back out afterwards they will lose the 10% deposit and are liable for damages. This is not the case in private treaty as a booking deposit is refundable. Your deposit is only at risk after you sign contracts.
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Видео How to buy a property at Auction канала Shane Fleming