Forced auction of a house - what should be considered?

Hello everyone,

I am interested in a house that is going to be auctioned. It concerns the auction by the Goslar District Court on 7.7.21 with the file number 11 K 22/19. (If links are allowed, I would be happy to include one).

The 2019 appraisal for the property shows a higher market value than the notice for the forced auction. Does anyone know what could be the reason for this? Since the current owners are an inheritance community, I assume that the house has been vacant in the meantime – could the price difference be related to that and the potential damages that may have occurred (frost damage in winter, for example)?

Does anyone else have tips on what else can be checked before the auction? So far, I have done the following:
- Checked the land register
- Viewed the house from the street
- Read the appraisal

What I still plan to do:
- Talk to the neighbors.

I am thankful for any tips.
Regards Christian

In the 2019 appraisal of the property, a higher market value is stated than in the announcement for the forced auction.

The market value appraisal is attached to a building damage report, which was set at 50% of the costs (net). Didn’t you read that? Then you arrive at the market value from the court.

I suspect that someone from the heir community wants to bid and lowered the market value through their own building damage report.

Does anyone else have tips on what else can be checked before the auction?

More than the appraisal, possibly the building files or land registers, you really can’t check. External inspection and location. Then set an appropriate limit and assume that quite a bit still needs to be invested in the house.

Thank you Nordanney for the quick response! I only found the market value appraisal there. Even after repeated searches in the [Immobilienpool] listing. I think I am searching incorrectly. Could you please help me out?

That is then an interesting constellation if an heir is bidding. But it could also be shooting oneself in the foot because the low market value will certainly attract more interested parties.

Thank you Nordanney for the quick response! I only found the market value appraisal there. Even after repeated searches in the Immobilienpool listing. I think I am searching incorrectly. Can you please help me out?

That is then an interesting situation if an heir bids. But it could also be shooting oneself in the foot because the low market value will surely attract more interested parties.

The zap goes to me. I downloaded the appraisal immediately after publication. Back then it still had 28 pages ... now there are more but the file name has not changed. That was great that you mentioned that! Thank you. I am one step further again

1. Transfer the security deposit on time.

2. Expect that it will be withdrawn shortly before the deadline as the community of heirs was able to reach an agreement.

GD

You don't want to do a cold start, do you?