Watch out bargain hunters: forced auctions from 108 euros!

Watch out bargain hunters: forced auctions from 108 euros!

The forced auction of real estate currently offers interesting opportunities for buyers in Cologne. According to Wohnglück , a property from the year of construction 1900 is auctioned at the responsible district court. The temporary purchase price corresponds to the market value, which was determined by a professional report of an officially appointed expert. The surcharge may be possible from 50% of the market value - a real stroke of luck for bargain hunters!

What do these auctions mean for potential buyers? A forced auction, so explains Immobilienwert Lindner , enables real estate to acquire real estate at an often cheaper price. These enforcement procedures protect the rights of the property owner and are important for creditors - mostly banks - if the owner gets into financial difficulties, for example through unemployment or illness.

The course of a forced auction

In the first step, the creditor, like a bank, must apply to the responsible court. This procedure begins with a court decision that is sent to the debtor and entered in the land register. At the subsequent auction, bidders must not fall below the defined minimum bid. A market value report plays a crucial role here, so certa expert opinion , because it indicates what the property is worth and protects both the rights of the owner and the interests of the believers.

The public announcement of the auction date is via various media, and the market value including minimum bid is also published. If no bid of at least 50% of the market value is submitted at the first appointment, a new appointment must be provided. It should also be noted that the creditor has a veto law if the highest bid is below 70% of the market value.

advantages of the forced auction

Another advantage of these auctions is that no broker and notary costs are incurred, which can be up to 8.5% of the purchase price depending on the state. In addition, interested parties have the opportunity to find out more about forced auction offers via online access, and this a whole month in advance. This helps buyers to prepare optimally.

The telephone accessibility for questions about the foreclosure is given from Monday to Friday from 9 a.m. to 8 p.m. and on Saturdays from 10 a.m. to 4 p.m. on 02102-711711. Over 80,000 properties are published nationwide in the monthly auction calendar - a large project with more than 30 years of experience in this area, as residential happiness confesses.

An important note: currently there is no energy certificate, which is not required when purchasing. However, interested parties should be aware that the accuracy of the published data and exposés is not checked and that a separate examination is advisable.