The purchase, for cash or with a home loan, of homes at auction is on the rise around the world, as inflation and high interest rates drive people to save money. It also happens in Italy (although this system is used less than elsewhere because there is still some mistrust). Today we’ll explain in 10 points why buying a house at auction is convenient https://www.southernhillshomebuyers.com/we-buy-houses-houston-texas/
The experts of the APEP (Professional Association for the Executions of the Province of Padua) have found that, due to the pandemic, the number of auctions scheduled in 2022 has decreased by 53% compared to 2019 and has also been slightly down compared to the 2021 (-0.7%).
Yet there is an increase in demand for this type of real estate.
You can save a lot
Bruno Saglietti, notary, president of APEP explains : Thanks to the new dynamics of the real estate market and the increasingly widespread use of types of sale, including telematic ones, this tool has become accessible to a wider range of buyers. They are attracted by the possibility of being able to save , buying houses at advantageous prices even without the need to use an intermediary.
The APEP has therefore drawn up a set of rules which allows you to understand the advantages offered by this opportunity.
We propose it here with some small additions :
Clarity : knowing clearly when the house will be sold and what the costs are in the event of an award
Transparent competition : everyone has access to the same information
Investment : the value of real estate continues to grow, so selling a house bought at auction can probably make a good profit
Quality : The auction business offers homes in good condition
Check : before making an offer, there is the possibility of inspecting the house for sale and checking for any problems, by reading the report prepared by a qualified technician.
Short times : the deed of transfer can be completed within 30 days from the date of the auction or at the latest within 60 days (in the case of bank financing through the disbursement of a mortgage). The clearing price must in any case be paid within 120 days.