Allsop Auctions thread

The_Conductor

The simple fact that they did bid at the auction- may decide this in Allsops favour. They can legally argue that they introduced the bidder to you. The bid at the auction- supports this.

You need to talk to a solicitor and get a proper opinion- after you've dug out the paperwork........

kstand

The_Conductor wrote: »

The simple fact that they did bid at the auction- may decide this in Allsops favour. They can legally argue that they introduced the bidder to you. The bid at the auction- supports this.

You need to talk to a solicitor and get a proper opinion- after you've dug out the paperwork........

Yep - on that as well.
Thing is though - how would Allsops know who had bid at the auction? If you had a room full of bidders and say 15 people bid, how would they know say 6 months later that one of those bidders had a subsequent bid accepted on the house?

The_Conductor

kstand wrote: »

Yep - on that as well.
Thing is though - how would Allsops know who had bid at the auction? If you had a room full of bidders and say 15 people bid, how would they know say 6 months later that one of those bidders had a subsequent bid accepted on the house?

Find the contract- and see what it says.
Talk to a solicitor.
If you play quick and fast- you never know how it will come back to haunt you down the road- don't do it........
If Allsops are entitled to a commission for introducing the purchaser to you (which I'd almost be shocked were they not)- just give them their money. You win some gambles (such as putting the house up for auction)- you loose some (such as it not selling on the day- but selling subsequently to someone who bid at auction).

Don't play quick and fast- dig out the contract- it probably has this eventuality spelt out in it.

Uno my Uno.

I've sold a few properties through Allspps and I know that their contract deals with exactly this situation (as one might expect), somewhat less helpfully I can't remember what it said exactly. Sorry!

Victor

kstand wrote: »

Thing is though - how would Allsops know who had bid at the auction? If you had a room full of bidders and say 15 people bid, how would they know say 6 months later that one of those bidders had a subsequent bid accepted on the house?

I would like you to stop this line of enquiry.

Moderator

---

I imagine the would-be purchaser was in contact with Allsop for a viewing. Allsops have been taking deposits and peoples' details at auctions (to prevent people disrupting the auction). It's quite possible that they take records of bids at the auction or even have audio or video.

handlemaster

http://www.allsopireland.ie/

Residential and commercial sale on tomorrow 22th october.

Anybody looking out for a property ? Towards the end of the year will be interesting to see how prices are going.

Shedite27

Any idea where I could get the auction result for REA recently. Looking to see how much this house went for...
https://www.realestatealliance.ie/residential/brochure/232-charlemont-off-griffith-ave-drumcondra-dublin-9/3346490

Sunny Dayz

House up the road from us in the auction, be interested to see what it goes for and who buys it. Sad to see our neighbours (as tenants) have to move out of it last week though.

mel123

Shedite27 wrote: »

Any idea where I could get the auction result for REA recently. Looking to see how much this house went for...
https://www.realestatealliance.ie/residential/brochure/232-charlemont-off-griffith-ave-drumcondra-dublin-9/3346490

Did you ring the auctioneer and ask?
Otherwise I think you may have to wait till the register is updated which could be a bit of time away

handlemaster

https://liveauctioncentre.allsopireland.ie/live/show/23752?mode=Live&custom=False


A mixed bag so far

Thargor

http://www.allsopireland.ie/auction/lot/40879

A bargain surely with tenants already in place? Suppose you'll be handing half of it over to the taxman but still, money back in 10-15 years if you got anywhere near valuation, theres a petrol station in tralee going for the same price nearly...

brownian

Thargor wrote: »

http://www.allsopireland.ie/auction/lot/40879

A bargain surely with tenants already in place? Suppose you'll be handing half of it over to the taxman but still, money back in 10-15 years if you got anywhere near valuation, theres a petrol station in tralee going for the same price nearly...

Sold for a lot more than the expected.

Thargor

How much did it go for?

Seamu$

Thargor wrote: »

How much did it go for?

€833k, €333k over max reserve.

Thargor

Thats more like what I was expecting, feck knows what it would have got before the crash...

GavMan

Thargor wrote: »

Thats more like what I was expecting, feck knows what it would have got before the crash...

Still cheap at 833 considering the location I would have thought. Good on the buyer

MayBea

Does anyone know when is the next allsop auction? I couldn't find this information.

GuitarMusic

MayBea wrote: »

Does anyone know when is the next allsop auction? I couldn't find this information.

Thursday 10th December.

Muff Richardson

Is it possible to find out what the story is behind these properties? Have owners been chucked out due to repossession? I'm looking at a number of properties and these shady outside photos with no details really make you wonder what the history of the house is.

77A Foxes Grove, Shankill, Dublin 18 www.daft.ie/11138574

like the above, just like anyone else I'd like to get a bargain but it doesn't sit well with me if its someone who's been just tossed out. anyone have any insight?

godtabh

Muff Richardson wrote: »

Is it possible to find out what the story is behind these properties? Have owners been chucked out due to repossession? I'm looking at a number of properties and these shady outside photos with no details really make you wonder what the history of the house is.

77A Foxes Grove, Shankill, Dublin 18 www.daft.ie/11138574

like the above, just like anyone else I'd like to get a bargain but it doesn't sit well with me if its someone who's been just tossed out. anyone have any insight?

what scenario woild fit well with you to allow you take advantage of a bargain?

mel123

What difference does the history make?

You can contact the auctioneer before hand and go and view the property so you know what your bidding on, your not expected to bid on them by an 'outside shady photo'

Muff Richardson

godtabh wrote: »

what scenario woild fit well with you to allow you take advantage of a bargain?

any scenario which doesn't involve having a family chucked out.

Muff Richardson

mel123 wrote: »

What difference does the history make?

a huge difference. I don't know if this is worth responding to in detail if you are asking that much.

mel123

if you don't buy it someone else will

Senecio

Let me share with you my story.

I won't link the add but the house that I have been renting for the past 4 years went up on sale on Daft on Monday this week. It is an Allsops auction scheduled for the 9th December. We have a fixed term lease in place until February next year and the advertisement does indicate it is subject to a tenancy. We've had no contact whatsoever from the letting agent to inform us of the situation and we do not deal directly with the landlord. My wife spotted a guy walking the estate last week with a camera and had a hunch and when she checked Daft on Monday ours was one of 7 properties listed. We do not know who the landlord is but believe it is not a private individual.

Now, for us this is little more than an inconvenience. We were thinking of moving anyway so what the landlord chose to do (or was forced to do) is not our concern. It just means we have nothing to fall back on if we do not find somewhere.

Hard to tell if it could be considered a bargain. The add only lists a Max. reserve which to me seems at the top end, but who knows what it will go for. I've no interest in buying it but was thinking of rocking up to the auction for giggles.

PS... If anyone finds out the place I am talking about and is interested shoot me a PM and I might be able to facilitate some internal photos. The place is in better condition (cosmetically) that it was when we took out the first lease. Can't say the same about the construction quality however.

Muff Richardson

mel123 wrote: »

if you don't buy it someone else will

and that pearl of wisdom is relevant to what?

you might find it a bit more productive posting in some after hours thread, you haven't a breeze what you are talking about.

zac8

Allsops have in the past made a point of saying they do not auction repossessed family homes. Most of their residential stuff is repossessed buy to lets.

edit: http://www.independent.ie/irish-news/allsop-signs-deal-to-prevent-unnecessary-repossessions-29580169.html

You don't contact the agent to view the properties as they hold open viewings.

mel123

Muff Richardson wrote: »

and that pearl of wisdom is relevant to what?

you might find it a bit more productive posting in some after hours thread, you haven't a breeze what you are talking about.

You asked about history and I said it doesn't matter because someone else will buy it, so it's a relevant comment to make. If your conscience/morals won't let you buy it that's up to you, but someone else will.

I know exactly what I'm talking about, my family (immediate family) have been there unfortunately, it's something I don't bother talking about much on boards because u always get 'well no one forced you to buy' and all these unhelpful comments mostly from people who have never been in the situation.
Maybe you know or don't know this, the banks can't actually turf you on the street in the literal sense with no where to live. I don't know if this helps your decision or not.
I'm hopefully closing a sale myself soon, so I know what it's like to be in the market for looking for a home, so best of luck with it.

myshirt

If you are getting 'a bargain' in any area of life, someone somewhere pays for it. Whether it is a tshirt in Penneys or a house selling below rebuild cost. Someone somewhere is getting a kick in the stones. Don't fool yourself about that. Rock on. Do what you gotta do. There is nothing in this world free but the grace of god. We all pay for our sins one way or another.

Muff Richardson

Muff Richardson wrote: »

any scenario which doesn't involve having a family chucked out.

If someone is "chucked out" they obviously deserve it as people need to be in serious serious arrears if it gets to that stage. Why should they be left living in a house they aren't paying for?

If it meant a bargain for me the history of the house wouldn't even enter the equation.

liam7831

As long as no psycho lived there in the past and got evicted you will be fine

Muahahaha

Lot 52 on the Allsops auction, a 4 bedroom house in Tralee with a reserve of €8000 :eek:

But then you read on

This property is available for viewing on Thursday 12th of November from 11am to 12pm, Monday 16th of November from 2pm to 3pm and Monday 23rd of November from 11am to 12pm.

Due to recent flooding in the area viewers are advised to bring wellington boots.

Please note that this is an open viewing and no appointment is required.

Senecio

zac8 wrote: »

You don't contact the agent to view the properties as they hold open viewings.

I'd like to see them arrange open viewings of the place I'm currently renting. The letting agent hasn't bothered themselves to inform us that the property is for sale so they're kidding themselves if they think I'm going to let them drag people through my home.

myshirt

^^^^

Could be bought by one of those REIT's, who don't really care.

ted1

myshirt wrote: »

^^^^

Could be bought by one of those REIT's, who don't really care.

No it won't , and they go care

Geuze

Muff Richardson wrote: »

any scenario which doesn't involve having a family chucked out.

You'll be happy to hear that there have been very, very few "families chucked out" of houses they owned in Ireland.

Now, tenant families have been forced to leave, yes.

But very few family homes have been repossessed.

riclad

Banks are mainly going for repossession for btl units ,
or house,s where the loan has not being repaid for 2 year,s plus .
Even if the house is left empty the bank still has to go to court to get it back.
Some of the homes in the allsops auction
are being sold by allsop for the person who sell,s off the assets of buiders or companys which went bankrupt .
The money goe,s to pay off creditors of those companys .
Most of the house,s in rural area,s being offered for sale are being
sold for less than the value of building a new house .
The price of most assets go,es up and down ,
thats called market force,s .
Some familys are getting help from social welfare to pay mortgages ,
or part of the mortgage .
You can get a bargain without hurting anyone .eg
say you buy a pc or laptop ,or a hdtv
last years model,display model .150 euro off the standard price in power city .
Who are you hurting ?
OR buy a tv on adverts.ie for 150 .
That does,nt hurt anyone .
you are buying a tv from 2011 for a good price.
not everyone needs this years model.

Arbiter of Good Taste

Geuze wrote: »

You'll be happy to hear that there have been very, very few "families chucked out" of houses they owned in Ireland.

Now, tenant families have been forced to leave, yes.

But very few family homes have been repossessed.

I'd say the poster probably doesn't care as much about pesky tenant families. Renters who are able to pay their way seem to derive less sympathy in this country than owners who can't. :rolleyes:

lima

Muff Richardson wrote: »

Is it possible to find out what the story is behind these properties? Have owners been chucked out due to repossession? I'm looking at a number of properties and these shady outside photos with no details really make you wonder what the history of the house is.

77A Foxes Grove, Shankill, Dublin 18 www.daft.ie/11138574

like the above, just like anyone else I'd like to get a bargain but it doesn't sit well with me if its someone who's been just tossed out. anyone have any insight?

Who cares why it is being sold. Tough luck on the sellers whether they were turfed out with kids or not. It's nothing to do with you. This is capitalism. Pay what you think it's worth to you and forget about the reasons why it's being sold.

Senecio

Senecio wrote: »

I'd like to see them arrange open viewings of the place I'm currently renting. The letting agent hasn't bothered themselves to inform us that the property is for sale so they're kidding themselves if they think I'm going to let them drag people through my home.

So we got the letter in the mail today from the letting agent. 5 days after the property went up for sale. They've asked for 1 hr per week for the next two weeks leading up to the auction, at a time that is convenient to us.I guess its not too much to ask. We'll do our best to accommodate them but I won't be giving the place a spit and polish.

bleary

If you register with allsop you should check the legal documents they upload for the property. This contains details on the last owner, when they bought it etc. you can google or check on courts.ie to see the any additional history. However as people have said these are buy to let's in most cases with the banks clearing down as much overhang as possible before the end of the year

athtrasna

Mod note Have merged several Allsop threads as there is a lot of repetition so hopefully having the info in one place will help people find the information more easily.

boogaloop

Afternoon all,

Tomorrow's auction seems to be mainly commercial in the morning, residential after that.
Anyone any experience of how long it might take to get to lot #60? Also is there a live stream to watch it on, I can't see anything about it on their homepage?

thanks.

The_Conductor

Yes- you can watch the auction live over the internet- they don't normally put a link on their homepage until the morning of the auction though.

As for lot #60 - its a bit of a how long is a piece of string question. If there are multiple lots that a few bidders are interested in preceding #60- it could be a bit of a wait- perhaps 90 minutes to 2 hours (or even more)- if there is little interest before that lot- they may get it a lot faster. Its hard to tell........

Re: watching it- you can get the stream straight from MyHome.ie here: http://www.myhome.ie/allsop-live-auction
It also has links to the iOS app store, Google Playstore, Puffin browser etc etc

Senecio

Senecio wrote: »

So we got the letter in the mail today from the letting agent. 5 days after the property went up for sale. They've asked for 1 hr per week for the next two weeks leading up to the auction, at a time that is convenient to us.I guess its not too much to ask. We'll do our best to accommodate them but I won't be giving the place a spit and polish.

A bit of an update from here. We accommodated two open viewings the last two Saturday's. Had not a single soul show up to the first one and only one person show up to the second. Will be interested to track the auction tomorrow to see what interest there is. Likely to be passed in with the lack of interest but still crossing my fingers that another investor buys it so we can remain in this place.

Senecio

Bit of an anti climax. Property withdrawn before the auction.

Will need to get in contact with the letting agency to find out where to now.

Reg_hurley

I've been watching this for an hour or so and was going to ask what the point is to try start the bidding well below the reserve and when the reserve isn't met the lot goes unsold.
Why not just start at the reserve price?

But.... for a few lots the auctioneer has said he will accept bids under the reserve. In one case it was 10k less.

Is this always an option and that's why people are eager go through the bidding process below the reserve?

The_Conductor

The AMV is not necessarily the reserve- inevitably- the reserve is set at an unknown value above the AMV. Starting bidding at the AMV- is fine and dandy- but it doesn't mean that you won't end up in precisely the same net event- where you have a property unsold after significant bidding- because it still hasn't hit its reserve........ Swings and roundabouts really- personally I think the whole thing is to try turn the auction into a spectator sport- I'd much rather a traditional auction any day of the week.

Muahahaha

Reg_hurley wrote: »

I've been watching this for an hour or so and was going to ask what the point is to try start the bidding well below the reserve and when the reserve isn't met the lot goes unsold.
Why not just start at the reserve price?

But.... for a few lots the auctioneer has said he will accept bids under the reserve. In one case it was 10k less.

Is this always an option and that's why people are eager go through the bidding process below the reserve?

It might go unsold in the auction itself due t being below reserve but the auctioneer will still likely approach the highest underbidder after the auction and try to sell it to him (provided the seller is okay with a reduced price). So if something has a minimum reserve of €300k and got bidded up to €250k then the person with the €250k bid may well still end up getting it for that. If they just jumped in with an opening bid of €300k then they'll have paid €50k more than they may have needed to.

Uno my Uno.

The Properties in the Alsop Actions will have had their reserves set by the banks so it is unlikely that they will be sold below that reserve.