Obelisk Property Auctions
In recent years, Obelisk Auctions has extended its services to immovable properties and real estate.
In the forthcoming months, Obelisk Property Auctions will be working more intensively with real estate agencies, leading contractors and other stakeholders in the property industry, to organise regular auctions, during which properties will be sold. These property auctions shall be held on a quarterly basis, starting from 2nd July 2011.
Property owners and real estate agencies are invited to register their properties with Obelisk Property Auctions up to three weeks prior to this first property auction event.
Registration of a property for auction purposes is subject to a one-off fee of €80 (excluding VAT). This will entitle the registered party to:
- have its property listed in the Obelisk Property Auctions catalogue, which will be distributed prior to the said auction;
- have its property listed on the Obelisk Auctions website;
- have the registered property auctioned and sold during the auction event;
- and, obtain legal advice prior and during the auction event with regard to the promise of sale related to the property being registered with Obelisk Property Auctions.
Registration implies that owners/estate agents are to indicate a reserve price, based on a reliable valuation, for the registered property to be sold. Should the property be sold at auction for a price above the indicated reserve price, Obelisk Property Auctions will charge 5% commission on the increment (i.e. on the amount over and above the reserve price). In the event that a property is sold during the auction at the indicated reserve price, Obelisk will not charge any commissionIn order to register their property for auction, owners and estate agents are required to complete the Obelisk Property registration form available on our website: www.obeliskauctions.com. Photographs of the relevant property, MEPA permits, site plans, architect plans, and notarial searches if applicable, are to be provided.
It should be noted that Obelisk Property Auctions does not charge any extra fee or commission with regard to any property sold by the owners or estate agencies prior to the auction event taking place, despite it being registered with us and even if said property is sold above the established reserve price. This notwithstanding, owners and estate agents are obliged to inform Obelisk Property Auctions about such sale two weeks prior to the auction event.
For more information please contact us on 99285600 or e-mail us at property@obeliskauctions.com
