Judicial properties sales: types, investments
The real estate auctions are convenient because they usually attribute to a property a lower price than would generally be sold or agency, the savings can reach 20% of the property value. Participating in a real estate auction, however, is not always easy, it is therefore necessary to be well informed.
Real Estate Auctions: some tips
When you decide to buy through a real estate auction, the first thing to do is to choose the apartment for which you decide to participate in the sale. In addition to that, it is good: go see the house in person and assess their housing status; make a cadastral for pending charges on the property, make sure that the property, if derived from seizure by garnishment, it is inhabited by any tenants / owners because in that case it can happen, they do not want to leave home (in this case you will have to provide in order to forcible removal, through law enforcement).
Real Estate Auctions: types of judicial sales
There are two types of sales of real estate auction: without charm and enchantment. The first takes place if an agreement is reached and there was no opposition to the sale and the latter take the place of the first in the event that this agreement is not reached.
The real estate auction without auction expected to be delivered by the participants of the bid in a sealed envelope with the Registrar. This offer includes the price that is proposed for the property for sale, the manner and timing of payment of the same and many more useful elements for the assessment by the court of the offer. The envelopes are then opened at auction and we will start with the highest increases in the proposal. If the final price is not at least 20% of the base price and the lender does not give its consent, the property is put on auction (with charm). The real estate auction with enchantment is no competition where the base price of the auction, and all manner of performing the same, are entrusted to the judge performer, which also sets a date for the execution of the rod and a deadline for submission the offerings. Tenders must reach the Registry in a sealed envelope and must not be less than the starting price or at least the best offer proposed in the previous sale without magic, everything still written in the order for sale. In the auctions with enchantment, within 10 days after the award of the auction, you can make additional offers to purchase. These offers are to be effective, must exceed one-fifth the price reached in the enchantment.
17/12/2009
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Translated via software
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Source:
Italian version of ReteArchitetti.it