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TERMS AND CONDITIONS

Addendum
At the auction we will make available an addendum to the catalogue. This will provide details of any changes to the catalogue details of the properties. You will be deemed to have read this whether you have done so or not.

Condition of the Property

No guarantee is given that the properties in this catalogue are of any particular quality, structural or otherwise. It is up to each Purchaser to arrange whatever surveys or other examinations they deem appropriate to satisfy themselves in this regard. Such examinations will be facilitated only on the basis that no damage is caused to the properties.

Description of the Property in this Catalogue
The description of the property and the measurements given in this catalogue are approximate only and it will be the obligation of the Purchaser to inspect the premises prior to the auction to satisfy himself in this regard. Any maps, plans or photographs in this catalogue shall be indicative only and shall not form part of the contract.

Withdrawal of Lots and Sales prior to Auction
Agents dealing with the sale of each property shall be entitled to agree a sale prior to auction without notice to any prospective bidder. In those circumstances, the property will be withdrawn from the auction.

VAT
In the event that VAT is chargeable on the purchase price, this will be stated in the contract for sale. The Auctioneer will not announce whether VAT is chargeable. You must check the contract for sale. The price that the Purchaser must pay on completion of the sale will be the price at which he successfully bid for the property plus the relevant VAT. The VAT that will be charged will be the rate applicable at the closing of the sale and not at the time of the auction. The deposit payable will be 10% of the VAT exclusive purchase price.

Insurance
It is the responsibility of the Vendor to maintain the property in its current condition between the time of the auction and the completion of the sale and the Vendor should insure it appropriately.

Name of Purchaser
On signing of the contract, you must specify the party that is to be the Purchaser of the property. The only exception to this will be where a solicitor completes the contract specifying that he buys the property in trust.
The Purchaser shall not be permitted to bid as agent or representative on behalf of an unnamed principal. If the highest bidder bids on behalf of another, he must nominate the party immediately after the auction on whose behalf he has bid and their name will be entered in the Purchaser’s slip and contract for sale. The highest bidder will be required to acknowledge in the bidder’s slip that in the event that the person nominated by him as the Purchaser does not acknowledge that the bid was made and the deposit was paid on his behalf or the person nominated by him does not complete the purchase, he will be liable to complete the purchase in his own name.
In the event that the highest bidder acts on behalf of a company, he will be required to acknowledge in the bidder’s slip that in the event that:
the company nominated by him as the Purchaser does not acknowledge that the bid was made and the deposit was paid on its behalf,
he does not have the authority to bind the company or
the company does not complete the sale, he will be liable to complete the purchase in his own name.We reserve the right to withdraw any property from the auction at any time entirely at itsown discretion.

Reserve Prices
The Reserve Price is the price indicated to the auctioneer by the Vendor before the auction below which he will not sell the property. Where the Reserve Price is stated in this catalogue or prior to the auction, the property will be sold to the highest bidder who bids equal to or greater than the Reserve Price. Any Reserve Price stated at the auction will take precedence over any Reserve Price in this catalogue.

Deposits

The deposit payable is 10% of the purchase price. If you are Irish resident, this is payable by way of cheque or bank draft drawn on an Irish bank and made payable to “REA Ed Dempsey”. If you are a non–resident, it is payable by a Euro bank draft only drawn on an Irish bank. In the event that a cheque presented for a deposit is returned unpaid, the Purchaser will make himself liable to legal proceedings in relation to the unpaid cheque and the balance of the purchase proceeds. It shall not be permissible to pay a deposit by cash. No credit/debit card facilities will be available.

The deposit will be held by REA Ed Dempsey and not the Vendors Solicitors. Condition 4(d) of the Law Society General Conditions of Sale shall not apply.

Legal Documentation
Prior to the auction, the solicitor for the Vendor may make available legal documentation relating to the property on our website for you and/or your solicitor to view. Alternatively, your solicitor should contact the solicitor for the Vendor to get the documentation. It is up to you to ensure that you and/ or your solicitor establish that there have been no changes to the documentation before the auction by attending the auction and examining the contract documentation. The up to date final contract documentation will be available for inspection at the auction for at least an hour before the commencement of the auction. The solicitors for the Vendor may or may not be available at the auction to answer queries that your solicitor may have regarding the contract documentation. It is in your interest, therefore, to have your solicitor contact the Vendor’s.

If your solicitor is not attending the auction, it is your responsibility to arrive in sufficient time that you can consult with your solicitor (by telephone or otherwise) about further changes to the contract.

The auction will not be postponed to allow this to happen.