Buying your house at an auction is possible

What should I know before buying real estate at auction? There are several types of sales, what are the rules?

Acquire real estate during an auction? It is quite possible, and it can even be an opportunity to do some good business.

Dedicated real estate auctions do exist, allowing the purchase of real estate, whether apartments, houses, land, buildings or even castles at often attractive prices.

Notarial, state or judicial sales

There are three main types of real estate auctions: notarial sales, which are as their name suggests organized by notaries, state sales and judicial sales.Notarial sales are the most common: the goods put up for sale belong to to individuals who voluntarily transfer their property, whether after an inheritance or due to a divorce.They are announced on the website notaires.fr, which has a dedicated tab.State sales concern property that the State wants separate and can be among the most unusual (barracks, farms, land ...).They also have their dedicated site, vente-domaniales.fr, managed by the General Directorate of Public Finance.Judicial sales take place in the courts of large proceedings and relate to property resulting from judicial liquidation or foreclosure.These sales are less flexible than notarial sales and cost more than the latter, due to the need The dates of these sales are announced in the legal notices of the department concerned and at the courthouse at least one month before the scheduled date.There are also specialized sites which centralize information.

Posted Date: 2020-10-04

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