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Beautiful bungalow in Dungannon, Northern Ireland, one of the many excellent properties for sale at the First Overseas Property Auction,City west Hotel, Thursday 29th January, 2009.

First Overseas Property Auction to take place in Citywest Hotel, Dublin, Thursday 29th January.

The First Overseas Property Auction is to take place in Citywest Hotel, Dublin on Thursday 29th January 2009 at 6.00pm until 9.00pm.

Since the launch of this innovative idea which is the answer to distressed property owners and savvy property buyers in October 2008 by Ann Collins Property, Ann has had a very enthusiastic response with a lot of people signing up to sell their properties at this unique auction. The first auction will contain excellent overseas properties from Antigua, Bulgaria, Cape Verde, Dubai, Spain, Turkey and USA. There will also be a limited number of Irish properties for sale.

Many of theses properties were bought at a time when people were in a position to fund them but with the current severe credit crunch and difficult financial markets, people now want to sell them and not be under pressure to pay for them.

This auction gives people the opportunity to sell their property quickly and also provides an opportunity for potential buyers to get a bargain, in essence it will be every property buyer and seller's dream... and all happening in the same room.

Always the first to change with the times Ann Collins has decided that Property Auctions are the smartest way forward. With the response www.PropertyAuction.ie has been receiving since its launch, it looks like Ms Collins is right once again!

The plan to hold the first international property auction is well underway. Distressed owners, in order to sell in the current market, have to sell BMV (below market value). Savvy buyers know that there are bargains to be had and so are willing to take the time to search for the best available. Well the search is now over for both parties. Ann Collins and her experienced team are currently busy matching distressed property owners with savvy property buyers and are finding that this current way of doing business is making for a win/win situation for all involved.

Following on from the first auction to be held on 29th January and conducted by professional auctioneer Aidan Heffernan of Heffernan Estates, part of the Sherry FitzGerald Group, Ann Collins plans to hold further overseas property auctions in City West Hotel, Dublin selling both properties in Ireland and abroad. Any seller interested in selling their distressed property must be prepared to sell at a major discount and buyers must be prepared to whip the money from their pockets on Auction day - Buyers should know that they do not pay any commissions or fees to www.PropertyAuction.ie.

A Vendor Application form - available by post or on the website - must be completed in full and signed. Vendors will be charged 1,000 plus vat (if applicable) for each property listed and a further 5% plus vat (if applicable) commission on exchange of contracts (usually within 1 month of Auction). The vendors' property will be listed on the www.PropertyAuction.ie website once all the information requested has been provided - each property will be put up for Auction twice. Regular "live auctions" in the City West Hotel, Dublin will be held in the busy selling months. If a property is not selling all factors regarding its saleability will be revisited including the price. The buyer needs to have finances in order to take advantage of some great bargains.

When a property is sold at auction the purchaser must pay a non-refundable 6% deposit on the day. The purchaser will then have 7 days to exchange contracts and approximately 1 month to complete the sale. The purchaser will pay a further 14% on exchange of contracts. The remaining 80% is paid on completion, the date of which will be specified in the contract. If the purchaser does not proceed with the sale the deposit will be split 50/50 between the vendor and www.PropertyAuction.ie

All properties will be dealt with on a first come first served basis. Professional tax and legal advice as well as mortgage advice will be available on the evening of the auction. A detailed brochure of all properties for sale is available Free of charge from Ann Collins Property. Tel 046 9430823 for a Free Auction Brochure or e-mail your request for same to info@propertyauction.ie.

A great event for 2009, the first Overseas Property Auction, Citywest Hotel, Dublin, 29th January 2009. Not to be missed!

Further information
Ann Collins
Overseas Property Auction
Tel: 046 9430823 01 6530766
E-mail: info@propertyauction.ie
www.PropertyAuction.ie

or

Mary FitzGerald
PR Consultant -Overseas Property Auction
Tel: 01-669 4759. Mobile: 086-2520181
E-mail: info@maryfitzgeraldpr.ie

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