Auction
Real estate auctions
Real estate informations and real estate auctions
Find below useful information about real estate auctions and reasonably priced real estate in such auctions.
What is an auction?
Public auction is the method by which a bank / financial institution, with the help of a Bailiff, can sell the properties sought in forced executions.
How can I participate in the auction?
- a) You need the following auction information:
date, time and place of the auction;
the deadline for submitting the tender participation guarantee;
the account for submitting the tender participation guarantee;
the starting price of the auction; - b) Deposit 10% of the price indicated in the sale publication for the payment of the guarantee of participation in the auction, money that you will recover if you do not win the auction.
- c) Submit the written offer to buy the property to the bailiff’s office that sells the property.
Documents to be submitted to the Bailiff at the auction hearing
- Individuals:
Proof of submission of the participation guarantee in the percentage of 10% of the starting price of the auction (processed PO, payment slip, etc.);
Written offer to buy the good;
Identification data of the person (B.I / C.I in original and copy);
Proxy authenticated at the notary if the potential buyer is represented by another person at the auction. - Legal entities:
Proof of submission of the participation guarantee in the percentage of 10% of the starting price of the auction (processed PO, payment slip, etc.);
Written offer to buy the good;
Copy of the company registration certificate;
Certificate stating from the Trade Register with the data of the company and its representatives, showing that the company is in operation and is not in insolvency proceedings;
The decision of the GMS stating the decision of the associates / shareholders to buy the good at auction, if its value exceeds 50% of the share capital of the company;
Warrant of participation in the auction, issued by the company;
Identification data of the representative of the company participating in the auction;
How is the price of a property determined?
- The starting price of the auction can be found in the sales publications and is established starting from the evaluation price.
If the property is not sold at the first auction, the price decreases by 25% compared to the appraised price, so the property will be sold at 75% of the value.
How is the auction conducted?
- The auction begins with a reading of the sale by the Bailiff. The following is the reading of the offers submitted by the participants. The auction will start with the highest bid. Each bidder is asked if they want to bid more or keep their original bid. After three shouts, the highest bidder will be declared the successful bidder.
How can I pay the amount I won the auction?
The person who won the good at the auction has 30 days to pay the full amount in the account of the Bailiff.
How do I become an owner?
After the full payment of the price, the Bailiff, on the basis of the tender minutes, will draw up the award deed which will be handed over to the successful bidder to serve as the title deed and to be registered in the land book.
By awarding the property, the successful bidder becomes the owner.
At the same time, the Bailiff automatically orders and sends the award deed to the Land Book for tabulation. By tabulation, the successful bidder acquires the right to dispose of the purchased property, according to the rules of the land book.
Note:
The information regarding the auctions organized by the Bailiffs during the enforcement process is indicative and does not replace the official steps required to register and participate in the respective auctions, and cannot be used as a legal basis for any action or action before third parties.
The information posted on this site is regularly updated.