Professione Aste - Firenze

The balance and excerpt

Home > Balance and excerpt

When and how can I buy before the auction?

The term excerpt, or off balance, refers to a set of procedures for the complete settlement of a person’s debts.

Such procedure has as effect the cancellation of the debit position of the subject, that it succeeds to settle how much due to a smaller amount, usually with the participation of a third party.

The agreement must be in agreement with all the parties involved and therefore:

  • the debtor, who is not able to pay the sum due, which continues to increase as a result of interest;
  • the creditor, who may face costly and lengthy legal disputes which do not always guarantee that he will get hold of the sum due;
  • the third, who is able to buy the goods at a price lower than the market value.

The procedure is absolutely correct in legal terms and is often implemented by companies in the financial and real estate sector.

When you say that, it might seem like a very simple operation. In fact, purchases of real estate to balance and excerpt are complex transactions, with procedures and peculiarities to be analysed and evaluated on a case-by-case basis as influenced by multiple variables,  More precisely, however potentially a purchase transaction to balance and excerpt can be undertaken by any subject, the complexity of negotiations and mediation with interested parties (creditors, banks, executed, etc.) and the bureaucratic and legal management of the operation (also given the need to block the process of auctioning the property and therefore the involvement of the Court), require the support of a professional in the sector with adequate experience.

We at Professione Aste are at your disposal to approach this market with ethics and competence, trying to maximize the benefits for all the players involved.