Real estate auctions in Italy are a great way to purchase movable or immovable property at a lower price, with a full guarantee that there are no debts on the object of purchase.
The consequences of the economic crisis continue to affect the owners of various property, and some fail to pay off their debts to the state or banks in time, so the property has to be given away in order to repay the debt. Therefore, the amount paid by the new buyer for a particular object will pay off the very debt that caused the sale, so the new owner will not face the fact that he will have to pay any additional money.
Judicial auction today takes place on more loyal terms for the buyer. If earlier it was impossible to look inside the object, and when buying it one could rely only on the opinion of an expert, today the situation has changed - now the object can be carefully examined.
The auction honed its positive aspects in terms of accelerating the acquisition of real estate. Now you can buy any object from the auction in a faster procedure than in comparison with the usual process of buying and selling, and the object itself can cost much less than if you buy it through an agency. Since the second option purchased property in Italy will cost much more. Benefits of acquiring real estate from a judicial auction.
Before putting an object up for sale, the judge carefully examines all documents and proposals from those wishing to purchase this property. The object being sold is sold absolutely clean from any encumbrances and debts, which means that the new owner is not responsible for paying old, unpaid taxes. If the object is purchased from a court auction, then the buyer is absolutely protected from fraud, and all rights are guaranteed and protected by Italian law.
The object database is updated daily, so you will not find that you like the object, but it has already been sold.
In order to get the right to participate in the auction, it is enough to deposit 10% of the original cost of the object with the court. And already the rest of the amount can be transferred within the period established by the court, which can stretch up to 3 months.
More than 45,000 objects go to the judicial auction a year, and among this abundance it is difficult not to find something suitable.
Compared to the market price, at the auction you can buy the same thing, but cheaper by 30-50%. At the auction, you can buy both new housing in Italy, as well as secondary or unfinished, but at a cost lower than on the market.
Before the start of the auction, the object can be carefully examined, both independently and with your experts. The cost of taxes and fees will be from 4 to 20% of the property value, this will depend on a number of factors that are established in court. Even after all taxes, fees and the amount of the cost of the object are paid, all the same, all costs will be much lower than if you purchased this object not from an auction, but from an agency.
At the same time, due to the consequences of the crisis, supply exceeds demand, which means that real estate prices are really low. What's more, each time an item fails an auction, its value drops by about 25% each time it passes. And this makes it possible to purchase this object not at a discount of 50%, but even at 70%.
It is profitable to buy real estate from auctions, not only because it is cheap and fraud protection is guaranteed, but also because having your own property in Italy speeds up the process of obtaining a residence permit or allows you to start your own business.
We provide a full package of services for the purchase of real estate from an auction in Italy.