Answers to the main doubts about real estate auctions
Is it possible to view the property?
Yes, in most cases it is possible to schedule a visit to the property.
Is it possible to apply for a mortgage to buy a property at auction?
Yes. You can apply for a mortgage from your credit institution or from others or pay in cash. It is often possible to obtain a financing equal to 100% of the allotment value, as some credit institutions finance up to 80% of the valuation value of the property being sold with mortgage guarantee on it. Within our staff there is a credit broker available to customers, in order to choose the best mortgage depending on the technical and legal characteristics of the property to be purchased.
Yes, in most cases it is possible to schedule a visit to the property?
Yes, the Code of Civil Procedure provides for this in art. 579.
But can properties be purchased before the auction?
Only when certain conditions are met is it possible to purchase the property in the pre-auction phase through a purchase transaction on balance and excerpt, clearly our consultants are available to the customer to implement this operation where possible, usually very advantageous (balance and excerpt).
What other costs does an auction purchase involve in addition to the allotment price?
In addition to the award price, the other costs certainly borne by the successful bidder are those related to excise duties (registration tax or VAT, mortgage and cadastral tax, stamps). To these must be added the so-called "hidden costs" that vary depending about the individual property.
Is it possible to take advantage of the same tax advantages for private sales?
You can take advantage of the same facilities, such as the possibility of paying registration tax on the cadastral value, first home benefits, direct grower benefits, tax relief on costs related to the renovation, etc.
How long from the date of the award will I have to pay the property?
It depends on what is established by the Enforcement Court. You can go from a minimum of 30 days to a maximum of 120 days.
But can you go to the auction alone?
Of course, our advice is not mandatory but simply (and warmly) recommended, as approaching the world of auctions for the first time without the help of a professional can be very risky, because the purchased goods are sold by the Court with the formula of "visa and liked", so it is the task of the buyer to carry out all the appropriate checks related to the operation. The main advantage we give to our client is that within our team we have all the technical and legal skills, which are rewarded only in the event of the award of the property, while the individual professional you can turn to (lawyer, architect, accountant, notary) is usually paid regardless of the outcome of the auction.
But if the house is occupied what happens?
The general rule is that the properties at auction are released in a much shorter time than a traditional eviction, as it starts from the removal that is the final phase of the eviction. However, there are particular situations in which the times are lengthened or even the property cannot be freed, and it is clearly our task to communicate to the customer the times of liberation of the property before the auction.
