Buying at an online DNG Creedon auction is a clear, transparent process that has been designed an evolved through our expertise over the years to become one of the most user-friendly experiences in purchasing property in modern-day Ireland. The steps below should be followed to ensure that your buying experience will be a smooth (and hopefully successful) one.

View the Property: buying at auction is all about being prepared and viewing the property or properties you’re considering is a first vital step. You can either view them in person or by proxy by having someone view them on your behalf.

Conduct Due Diligence: What this means in layman’s terms, is that you familiarise yourself with the property in a more thorough legal and structural manner. You need to check that the title is good from a legal standpoint and, from a structural standpoint, you need to know what you’re buying precisely: what the condition of the property is, what works need to be carried out, etc. For this part of the process, it’s advisable to have a solicitor and engineer look over the title and structure of the property or properties you’re interested in bidding on.

Create an Account: In order to conduct due diligence, you need to get access to contracts. In order for this to be possible, you must create an account with DNG Creedon. Go to our website and click on AUCTIONS. This will allow you to create an account so that you can view the contracts. If you don’t have an existing account, this will require you to supply your contact details that you will be using for bidding – name, contact number, email address and postal address. You will also be required to supply an identification document (drivers licence or passport) and a utility bill. These latter items can be scanned and uploaded in the online application form. Once you’ve completed the application form to create an account, you will receive a confirmation email as a security measure. Once you click on the link provided in the confirmation email, your account will then be active.

Register to Bid: At this point, if you would like to be in a position to bid, you must register for the properties you are interested in. Once again, you go to our website and click on AUCTIONS. This will bring you to the relevant page and registering your interest will involve a €5,100 deposit for each property that you’re interested in bidding on. What this means is that we will require a deposit to be lodged directly to us or taken by credit/debit card. This is a €5,000 deposit and €100 administration charge payable if you are the successful bidder. Once you register, a hold of €5,100 will be placed on your debit/credit card and will be applied only once you are the successful bidder. If you are unsuccessful, the hold will be removed after the auction from your card. If you decide to transfer the deposit to us in advance of the auction and are unsuccessful, we will issue a full refund for the deposit paid.

Terms and Conditions: Read through the terms and conditions carefully in order to ensure that you are clear on them. Once you are happy with the terms and conditions, click on the prompted button to confirm. If you have any questions about either something that isn’t clear or something you’re not happy with, contact us by phone or email immediately.

Authorisation to Bid: Once all of the above steps have been taken, you should then be ready to receive your authorisation to bid. A staff member of DNG Creedon will process your application and authorize you to bid on your property or properties. This will be in the form of a confirmation email. Please note that you must be registered and authorized a minimum of 24 hours before the auction time.

Bidding: The bidding time will be advertised in advance and will be open for a period of three hours. Each property has a countdown timer clock on display. At the end of the time, no more bids can be accepted. Bidding is made in increments of a minimum amount of €1,000 (there is no upper limit). The reserve price is the advertised price with each property. This is the minimum price that the owner of the property will accept. Once the reserve price is achieved, the property is then ‘on the market’ and will be sold.

An extension period on the closing time of an online auction occurs when a final bid is placed within 60 seconds of the advertised closing time. When this happens, the countdown clock will run down to zero and then automatically reset to 59 seconds to allow any counter-bids. This extension period once activated, will continue to be in place until such time as the last bid is placed by the remaining bidder. The bidding screen will advise if the extension window has been activated to all current bidders of the property.

Post-Auction Follow-up: A successful bidder is required to lodge a deposit of 10% of the purchase price (less the €5,000 deposit already paid) into the DNG Creedon client holding account within 48 hours of the closing time of the auction. If you are a successful bidder, your solicitor will be informed immediately as a matter of course. You are, however, advised to make contact with your legal representative to arrange the necessary steps in order to complete the purchase of your property. If you are unsuccessful, your €5,000 deposit will be release on your debit/credit card. If you have lodged your deposit by cheque or bank transfer, an employee of DNG Creedon will immediately arrange for funds to be returned to you – a process that may take 5-10 working days. If you purchase a property for a price below €50,000, no additional funds will be required until the completion of the purchase.

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