The Real Estates and the Buying

There are three different reasons why a property ends up at auction. The first concerns individual citizens: because when one is unable to pay one or more creditors, the latter has the right to retaliate on their properties. The second case concerns companies that in case of bankruptcy see their assets alienated. The third case concerns public bodies: when they decide to sell a property, they must do so through the auction that guarantees maximum transparency. A visit to makes things perfect now.

What are the three main tips to give to those who intend to buy the house at auction?

The first is certainly to read the report ordered by the court with extreme attention, and it would be even better to have it read by a trusted technician to have the sanitization of any building abuse checked. The second concerns the certainty of having economic coverage or of being able to access a mortgage. The third advice is to check who the people who live in the house are and to make sure that the property is expected to be released in the sales notice at the time of the award or, at the latest, of the signature of the decree by the judge. The release will be guaranteed in any case, in case of the non-spontaneous initiative of the occupant, through the intervention of the public force.

How do I document myself and what is the best way to search for an auction house?

Auction houses must be advertised both on the web and in print newspapers; it is the judge who in the sales order indicates where. There are therefore specialized sites, the sites of the Courts, the Notarial site and, when it becomes mandatory, all the advertisements of the Italian Courts will be collected on a single Portal managed by the Ministry of Justice which, in turn, for photos and details of the case, will refer to commercial sites-enabled for legal advertising. One of these is the Notary Public Sales Portal.

Once the house I like has been identified, what is the next step?

Once the house has been identified, it is necessary to pay close attention to the sales notice which contains the indication of the property offered for sale, the date, time and place of the auction, the base price, the minimum raise size, the deadline. for the presentation of the offers, the methods of sale whether with or without auction, but by now the latter method is the rule, the first is the exception and, finally, the website on which the appraisal report is published, which constitutes an integral part of the notice of sale and which describes in detail the factual and legal situation of the property.

How is the base auction price established?

The expert appointed by the Judge establishes it and reports it in the appraisal report that is published on the website indicated in the ordinance, in homage to the maximum transparency towards the market and citizens. The minimum order increase requested during the tender is also established in the sales order.

Should I bid on the base auction price or can I bid less?

The auction basis is set by the execution judge on the basis of the appraisal of the property and it is the judge himself who determines the number of possible reductions that the delegated professional can accept after the first deserted auction.

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