If to buy a property, the reflex is often to direct you to real estate agencies or notaries, there is also a channel less used: real estate auctions. It is necessary to know perfectly the specificities of this type of sale before using it. We will explain everything to you!
Real estate auctions, what is it?
The auction classifieds is a sales process that puts sellers and buyers in contact. In the case of real estate auctions, the properties offered for sale can be very varied. This can be houses, apartments, land, sheds, castles, villas … as you will see on this site of real estate auction listings.
These auctions can be organized by notaries. In this case, the demand emanates from the owners of the property in question as opposed to the judicial sales which often follow a judicial liquidation or foreclosure due to non-payments. Finally, there are also real estate sales of domains. The goods offered for sale belong to the State and those who have no heirs or whose heirs have not wished to take advantage of them.
In any case, an advertisement will be put in place in the press, in the legal notices and newspapers, on the internet … This allows you to read the conditions of the sale. Indeed, as shown on this page, each advertisement contains the description of the property, photos or a virtual tour, the price and the days and hours of visit.
The benefits of these real estate sales
- If real estate auctions are enjoying increasing success, it is because they have multiple advantages:
- The selling price is the one that makes them so attractive. Indeed, in the case of court auctions, the selling price of goods is often located around one-third of their true value. If you are looking to buy a house, this is a great way to become a homeowner at a lower cost. For Notary Auctions, bids are approximately 70% of the price of the good on the market. And even when auctions go up, they cannot exceed 90% of the value of the good. So, even if the prices are not as low as for legal sales, you still have the certainty of doing good business.
- The variety of real estate is also another asset of these real estate auctions. Indeed, all types of property can be auctioned. You can buy a house or an apartment but also a commercial, land, a building, forests, ponds, car parks, cellars … All these goods can be to be located everywhere in France. Some are in perfect condition, others require renovation.
- Finally, these are goods that you will not find on the classic channels of housing sales. They are therefore expanding the offer and allow you to expand your search.