Allsop Auctions thread

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 Property withdrawn before the auction.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.

Lux23

A house down from me went for €390,000, I would imagine it would need considerable investment in order to make habitable again. Probably will be worth twice 390k though.

joe_five_pack

ive never seen much in the way of value at these auctions , its a quick way of getting hold of a property though