Foreclosure: Attention bargain hunters! This is how you secure your dream property

Foreclosure: Attention bargain hunters! This is how you secure your dream property

If you are interested in a property and want to make a real bargain, the forced auction could be just the thing for you. As reports Wohnglueck.de, there is an auction at the responsible district court, in which a property built in 2009 is sold. The announced purchase price corresponds to the market value specified by an expert opinion of an officially appointed expert. Interesting addition: The surcharge could even be possible from 50% of the market value, at second dates there is also fewer!

A big plus for these auctions is that no broker or notary costs are incurred- this can make up to 8.5% of the purchase amount in Germany! WIE 300 € invested has even three months access to over 80,000 properties that are published nationwide in the monthly auction calendar. This information is worth gold if you have a good knack for buying real estate.

forced auctions simply explained

But what exactly happens when a foreclosure is auction? According to [Immobilienwert-lindner.de] (https://www.immobilienwert-lindner.de/blog/zwangs auction), this procedure is initiated when the property owner gets into financial difficulties-be it through illness, unemployment or a separation. Banks and other creditors submit an application for foreclosure to the responsible court. If this is approved, an auction date is determined and made publicly known.

Important to know: The market value of the property, which is crucial for the auction, is usually determined by an independent expert. This takes into account numerous factors such as location, size, equipment, building materials and the general condition of the property. So it could be worthwhile to read the corresponding market value report thoroughly before you hand over the bid.

The auction process in detail

The actual process does not do any things. As [apartment.com] (https://www.wohnung.com/ratgeber/387/zwangsverstehrung-stehn-des-des- traffic value), the bid should not be undercut under the defined minimum bid. In addition, the creditor has a veto law if the bid does not reach at least 70% of the market value. If the auction is successful, the proceeds will then be distributed to the creditors.

bidders, like you, should have formidable knowledge of the market and property. If the first bid is also long in coming, a new appointment for the auction will follow. Experience has shown that it is not uncommon for real estate to be auctioned under their market value.

Over 30 years of experience in the area of forced auctions are available to those interested - the telephone accessibility is guaranteed from Monday to Friday between 9 a.m. and 8 p.m. and on Saturday between 10 a.m. and 4 p.m. Over 80,000 properties are waiting to attract your attention. If you don't hesitate, you may be able to do a real random business.

Remember: No matter whether you get in touch with the creditor before the auction or consult an expert to visit the property - well informed is half -obtained! A quick, simple access to information can help you avoid evil surprises and improve your decision -making.