What is the Pre-Hammer Program

The Pre-Hammer program gives buyers the opportunity to purchase properties that have been declared executable by the court before the Sheriff’s Auction takes place.

This creates a valuable opportunity to secure a property through a conventional sale process before it proceeds to auction.

Benefits for Buyers:

Purchase Before Auction

Pre-Hammer properties are marketed through registered estate agents, allowing buyers the opportunity to submit an offer before the property is sold at a Sheriff’s Auction, where competition and uncertainty may be higher.

Important Viewing Information

Please note that in many instances agents are unable to arrange access or viewings of the property, as the property may still be occupied. Buyers may therefore need to submit offers based on the available information and external inspection only.

Purchases may accordingly need to be made “blindly”, and buyers are encouraged to conduct as much due diligence as possible prior to submitting an offer.

Standard Property Purchase Process

The transaction follows the normal property sale procedure. Buyers complete and sign an Offer to Purchase, pay the required deposit, and proceed through the standard transfer and registration process, similar to a traditional property purchase.

Important Information:

A 2% deposit is required once the offer has been submitted.

Should the seller accept your offer, the Sheriff’s Auction will only be cancelled once the deposit has been received before the deadline reflected on the timer above.

This deadline is strictly enforced, and prompt action is essential to secure the property.

Financing Options:

Buyers may apply for home loan finance through any registered bank, just as they would with a standard property purchase.