Essentially, the beginning and end result are the same but the part in the middle is different: In the case of a normal Private Treaty sale, someone purchasing a property is doing so on the assumption that the title and structure of the property are good. In the case of a public online auction, all this ‘due diligence’ work is front loaded (i.e. carried out in advance of the online auction) so that when someone purchases at online auction, a binding contract is formed and the buyer knows precisely what they are buying by checking all details before the online auction.
All our online auction dates can be viewed in the calendar on our website. Please note, that if any particular dates do not suit, get in touch with us and we can look at arranging a date that will suit for individuals or for a portfolio of properties.
The DNG Creedon online auction platform is an efficient and secure system using up-to-date technology and has a proven track record of selling millions of euros worth of transactions – everything from small building sites to apartments, houses, portfolios and industrial property.
The process is completely transparent and user-friendly. Anyone interested in bidding needs to register with DNG Creedon via our website, pay a once-off administration fee (per online auction) of €100 as well as a €5,000 deposit (refundable in the event of an unsuccessful bid) for each property the bidder is interested in.
Costs may vary depending on the value of the asset or the number of assets you’re selling. Contact DNG Creedon by email (firstname.lastname@example.org) or telephone (021 489 7300)
These can be obtained from our website. First you need to create an account with DNG Creedon, then click on the property that you’re interested in. From here, you can download the legal pack of the desired property and save it or send it to your solicitor. Alternatively, your solicitor can log onto our website and download the legal pack and examine it on your behalf.
All legal queries should be directed to the solicitor of the vendor (person selling the property).
If, for any reason, you are having difficulty obtaining a response from the vendor’s solicitor, please contact DNG Creedon and we will endeavour to clarify any outstanding matter or query to ensure that you will be in a position to bid on the online auction date.
Yes. DNG Creedon normally arranges two open viewings per week approximately 4-5 weeks prior to the auction date.
Yes. It is advised to do so and surveyors are invited to attend the open viewings.
Registration will open 7 working days prior to the online auction date. The registration date is listed alongside the property.
Typically, the sale of the property will close and ownership will be fully transferred to the winning bidder between 14 and 28 days of the close of the online auction. This time period, however, is specified in writing in the contract.
They can. Normally if such an event occurs, it will have been due to legal documents not having been prepared to allow potential purchasers enough time to conduct due diligence. Very often, these properties will be re-offered for online auction at a future date once any such issues have been resolved.
- You need to create an account and complete your registration, paying a €100 once-off administration fee per online auction
- Click on the property that you’re interested in
- Register your interest and place a €5,000 deposit for each lot you are interested in bidding on
For each property you are interested in, you must place a €5,000 deposit in DNG Creedon’s account. If you are successful in your bid, the balance of 10% of the purchase price must be paid within 48 hours of the end of the online auction.
Yes – it is €100 per online auction. It is a non-refundable amount and will not increase, regardless of how many properties you are interested in bidding on.
The reserve price is the lowest price that the person selling the property (the vendor) will accept. In all cases, it is the advertised price listed on the property.
Some properties may be sold before the online auction date but this is entirely at the client’s (the vendor’s) discretion. From the purchaser’s point of view, they must also show that they have read and understood the terms and conditions of the sale and that they can prove ability to pay.
Beforehand, you must have created an account and then register your interest for your chosen property or properties. As soon as the bidding period opens, you are free to bid.
- Log into your DNG Creedon account
- Select the property you’re registered to bid on
- On the right hand side, you’ll see the bidding section. Decide what amount you want to bid and when
- In all cases, you will be asked to confirm your bid before it is placed.
If a bid is place 60 seconds before the end of the online auction, the countdown clock will reset to 60 seconds. This may continue until such time as there is only one winning bidder remaining.
No. These online auctions are online only and telephone bids cannot be accepted. You can, however, bid in an online auction using your smart phone by logging into your account and following the necessary steps.
This is the amount by which one bidder out-bids another. In the DNG Creedon online auctions, the minimum increment is €1,000. There is no maximum increment.
The opening time of the auction will be clearly advertised well beforehand. In most cases, bidding opens on all the lots at the same time.
The bidding normally closes on the advertised closing time. These are normally staggered by a few minutes for each property. It is advisable to check the precise closing time for each lot before you bid. All the closing times for bidding are subject to an extension period.
An extension period on the closing time of an online auction occurs when a final bid is place within 60 seconds of the advertised closing time. When this happens, the countdown clock is automatically reset to 60 seconds to allow any counter-bids. This process may then continue until such time as there is only one winning bidder remaining.
If you are a winning bidder, both you and your legal representative will be informed of the situation. You are, however, advised to contact your solicitor immediately in order to discuss with them the next necessary steps to completing ownership of the property. The balance of 10% of the purchase price must be lodged or transferred to DNG Creedon’s client account within 48 hours of the close of the online auction. If you purchase a property below €50,000, you’ll only be required to pay €5,000