A list of terms commonly used in auctions of repossessed houses:
15th May 2024
Reserve Price:
The minimum price the seller is willing to accept for the property.
Bidding Paddle:
A numbered card or paddle held by bidders to signify their participation in the auction.
Bid Increments:
The predetermined amount by which bids must increase during the auction.
Hammer Price:
The final accepted bid amount when the auctioneer's hammer falls, indicating the sale.
Buyer's Premium:
An additional percentage of the final bid price that the winning bidder must pay on top of the bid.
Vendor Bid:
A bid made by the auctioneer on behalf of the seller to stimulate bidding or meet the reserve price.
Withdrawal:
- When the property is removed from the auction if bids do not reach the reserve price.
Passed In:
- When a property does not sell at auction because it did not reach the reserve price.
Fall of the Hammer:
The moment when the auctioneer's hammer falls, signifying the end of bidding for that particular property.
Open Inspection:
Designated times when potential buyers can view the property before the auction.
Section 32 (Vendor's Statement):
A legal document providing information about the property, required to be made available to potential buyers before the auction.
Auctioneer:
The person conducting the auction, responsible for calling the bids and determining the successful bidder.
Cooling-Off Period:
A short period after the auction during which the winning bidder can withdraw from the purchase without penalty.
Auction Catalogue:
A document listing the properties to be auctioned, including details such as location, size, and reserve prices.
Proxy Bid:
A bid placed on behalf of a bidder who is not physically present at the auction.
Vendor's Bidder:
A person, often a representative of the seller, authorized to place bids on the property.
Knocked Down:
The moment the property is sold to the highest bidder.
Caveat Emptor:
Latin for "let the buyer beware," emphasizing the buyer's responsibility to inspect the property before bidding.
Purchasing repossessed houses at auctions can offer opportunities for buyers, but it's important to approach the process carefully to increase the chances of securing a good deal. Here are some tips to help you pay the lowest price for auctioned repossessed houses:
Finding the right mortgage broker is crucial in the home-buying process, as they can help you navigate the complexities of mortgage options and find the best deal for your financial situation.
Below is a list of some Galway based mortgage brokers.
D Moloney Financial Services
The Crane Centre, Main St, Dungory West, Kinvarra, Co. Galway, H91 T2KH
Galway LOCATION MAP
Absolute Mortgages Limited
78 Prospect Hill, Galway, Co. Galway
Galway LOCATION MAP
Acorn Mortgages
NZI Plaza, St. Augustine Street, Co. Galway
Galway LOCATION MAP
Carty & Cullen
Unit 1F, Deerpark Business Centre, Claregalway Road, Oranmore, Co. Galway
Galway LOCATION MAP
Churchfield Corporate Financial Services
Aughclogeen, Claregalway, Co.Galway
Galway LOCATION MAP
Faith Fahy Financial Consultant
Ballybane Industrial Estate, Unit 12 Glenrock Business Park, Galway, H91 HKC3
Galway LOCATION MAP
HC Financial Advisors
Carrowmoneash, Oranmore Business Park, Co. Galway, H91 H003
Galway LOCATION MAP
lntegrated Financial Services
Augustine Court, Saint Augustine Street, Co. Galway
Galway LOCATION MAP
Lifelong Financial Solution
Office No 12, Lakeview Point, Claregalway Business Park, Carnmore Cross, ClareGalway, Co. Galway
Galway LOCATION MAP
Money Maximising Advisors
Unit 33, Kilkerrin Park 1 Liosban Industrial Estate, Tuam Rd, Galway
Galway LOCATION MAP
Murray & Spelman
Tuam Road, Galway, Co. Galway
Galway LOCATION MAP
Pat Fleming Mortgages
Liosban Business Park, Unit 4 Fiducial, Galway, H91 FXX8
Galway LOCATION MAP
Capital Financial
Unit 9 Grange Rd. Office Pk Grange Rd Rathfarnham Dublin 16
LOCATION MAP
Carron Insurances
79 Main Street Blackrock. Co. Dublin
LOCATION MAP
Churchfield Corporat
41 Dominic Street Dublin 1
LOCATION MAP
Colm Dunne
25 Ormond Crescent Swords Co. Dublin
LOCATION MAP
Covermore Financial
Unit J3 Centrepoint Rosemount Business Park Ballycoolin Dublin 15
LOCATION MAP
Dowling Financial
1st Floor 19/21 Fairview Dublin 3
LOCATION MAP
Cregan Kelly O Brie
Unit 2 Broadmeadow Hall Applewood Village Swords Co. Dublin
LOCATION MAP
DSOB Financial Servi
148 Phibsboro Road Phibsboro Dublin 7
LOCATION MAP
Dublin Mortgage Cent
Augustine House Oliver Bond Street Dublin D08 YA49
LOCATION MAP
Finance Matters
Rathfarnham Rd Terenure Dublin 6 D6W N294
LOCATION MAP
Finance One
Pepper Canister House Mount Street Crescent Dublin 2
LOCATION MAP
Finance Solutions
4 The Mall Lucan Co. Dublin
LOCATION MAP
First Rate Financial
37 Main Street Main Street Ongar Village Dublin 15
LOCATION MAP
Frank Lenny Financia
Mortgage House 66 South William Street Dublin 2
LOCATION MAP
Full Circle Financia
120 Lower Kilmacud Road Stillorgan Co. Dublin
LOCATION MAP
Future Plan
Chase House City Junction Business Park Northern Cross Malahide Road Dublin 17
LOCATION MAP
General Mortgage Cor
30 Leeson Park Dublin 6
LOCATION MAP
Gerard Ryan Financia
75 North Street Swords Co. Dublin
LOCATION MAP
Hegarty Financial Ma
47 Lower Mount Pleasant Avenue Rathmines Dublin 6
LOCATION MAP
HMP Insurance & Pens
62 Musgrave Street Dun Laoghaire Co. Dublin
LOCATION MAP
Finance One
Pepper Canister House Mount Street Crescent Dublin 2
LOCATION MAP
Finance Solutions
4 The Mall Lucan Co. Dublin
LOCATION MAP
First Rate Financial
37 Main Street Main Street Ongar Village Dublin 15
LOCATION MAP
Frank Lenny Financia
Mortgage House 66 South William Street Dublin 2
LOCATION MAP
Full Circle Financia
120 Lower Kilmacud Road Stillorgan Co. Dublin
LOCATION MAP
Future Plan
Chase House City Junction Business Park Northern Cross Malahide Road Dublin 17
LOCATION MAP
General Mortgage Cor
30 Leeson Park Dublin 6
LOCATION MAP
Gerard Ryan Financia
75 North Street Swords Co. Dublin
LOCATION MAP
Hegarty Financial Ma
47 Lower Mount Pleasant Avenue Rathmines Dublin 6
LOCATION MAP
HMP Insurance & Pens
62 Musgrave Street Dun Laoghaire Co. Dublin
LOCATION MAP
Howth Financial Serv
1 Saint Mary s Road Howth Co. Dublin
LOCATION MAP
Irish Mortgage Broke
33 Pearse Street Dublin 2
LOCATION MAP
Irish Mortgage Corpo
118 Lower Baggot Street Dublin 2
LOCATION MAP
Marine and General I
Dolcan House 80 Tower Road Clondalkin Dublin 22
LOCATION MAP
MC Financial
Coolmine Enterprise Centre Coolmine Dublin 15
LOCATION MAP
McCarney Financial S
29 Whitworth Road Drumcondra Dublin 9
LOCATION MAP
MCN Associates
Whitefriars 12 Peter Row Aungier St Saint Peter s Dublin 2
LOCATION MAP
MMPI Financial Servi
101 Morehampton Road Donnybrook Village Dublin 4
LOCATION MAP
Money Doctor
61 Lower Kilmacud Road Stillorgan Co. Dublin
LOCATION MAP
Moneysave
3A Bridgecourt Office Park Walkinstown Ave Dublin 12
LOCATION MAP
Mortgage ABC
128 Baggot Street Lower Dublin 2 D02 A430
LOCATION MAP
Mortgage Plus
89 Harcourt Street Dublin 2
LOCATION MAP
Mortgageline
120 Upper Drumcondra Road Dublin 9
LOCATION MAP
My Mortgages
127 Lower Baggot Street Dublin 2
LOCATION MAP
Ocean Mortgages
46 Prussia Street Dublin 7
LOCATION MAP
OMAC Mortgages & Fin
OMAC Business Centre Mill Shopping Centre Clondalkin Dublin 22
LOCATION MAP
One Platform
50 City Quay Dublin 2
LOCATION MAP
Opes Wealth Trust
192-194 Harolds Cross Road Harolds Cross Dublin 6
LOCATION MAP
Orca Financial Ltd
The Grange Stillorgan Rd Galloping Green North Blackrock Co. Dublin
LOCATION MAP
Park Financial Plann
Cashel Road Dublin 12
LOCATION MAP
IrishHouses: Mortgage Debt, Arrears and House Repossession
Disclaimer: Although we will do our best to provide you with correct details, information provided is subject to errors or omissions. IrishHouses.ie is a private blog on the subjects of mortgage debt, arrears and house repossession in Ireland.
We are not affliated with any organisation or private company and all advice and information provided on our website should be checked with the individual companies or organisations involved.
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