Forced auction of a house - what should be considered?

I hate such non-transparent sales where you just test to see what bids can be achieved. By now, real estate often finds new owners through open bidding processes.

Overall, this is due to the tense market situation. I wouldn't participate in such speculative purchases anyway.
A purchase at a foreclosure sale should always be a bargain due to the usually significant risks and be listed well below market value.

So you really have to keep that in mind. And once the heirs see how great the interest really is, they will start to play poker and sell to the highest bidder freely. The heirs’ community couldn’t have asked for a better opportunity.

But still, here are a few little tips.
If you want to buy at such a foreclosure sale, never share this here or anywhere else in a forum. That will wake sleeping dogs. Always remember, a co-bidder can ruin everything for you.

Go to some court foreclosure auctions beforehand and simply attend. So you can see how it all works.

When it’s finally about the real deal, just sit in the very back row. You always have to have your opponents in front of you.
Dress well, appearance plays a crucial role here. Psychology is everything.
But it always depends on the situation. With the right strategy, you often succeed.

I hate such non-transparent sales where they just test what bids can be achieved. Nowadays, properties often find new owners through open bidding processes. Overall, due to the tense market situation. I wouldn’t participate in such speculative purchases anyway. A purchase in a foreclosure auction should always be a bargain because of the often considerable risks and should be priced well below market value. So you really have to keep that in mind. And once the heirs see how great the interest really is, they will start to bluff and sell to the highest bidder freely. There couldn’t have been a better opportunity for the community of heirs. But still, a few small tips. If you want to buy at such a foreclosure auction, never share that here or anywhere else in a forum. That awakens sleeping dogs. Always remember, a competing bidder can ruin everything for you. Go to some court foreclosure auctions beforehand and just attend. So you can see how it works. When it comes to the crunch, simply sit in the back row. You always have to have the opponents in front of you. Dress nicely, appearance plays a decisive role here. Psychology is everything. But it always depends on the situation. With the right strategy, you often have success.

Yeah, it’s not that tragic. We haven’t fixated on this one house and would have also bid below market value. I just posted it because it would have been my first auction and I’m very grateful for the tips.

From today's perspective, it is very important to build a small network. You can now only get a cheap property through word of mouth. If a property is already listed in the ZV or on the internet, you can usually forget about it. The good ones all go under the table.

Seek contact with Sparkasse, Volksbank, and private banks. They sometimes sell under the table at a good price when a customer's loan becomes non-performing. All banks have a real estate department. Just make an appointment and talk to the brokers there.

I have also bought directly from the bank with the owner's consent. For a third of the market price.

Oh, and please don't be stingy. Offering a few thousand under the table hasn't harmed anyone. Especially employees have a very open ear for that. Better to hand over 5,000€ in an envelope than to pay 100,000 too much. You know what I mean.

you know what I mean.

But I don't understand that. On the surface, it sounds like the recommendation of a crime that is supposed to save you an insane amount of money and simply shift the losses onto others. But since something like that is very antisocial and would therefore never be recommended in a forum, I must have misunderstood. How would it be correct?

Oh man, Durran is quite a cheeky guy …

§ 331 StGB ff. and also incitement to commit a crime …!? Really now?

1/3 below market value would then also be usury …

Every bank has a central department for non-performing loans and the disposal of these properties. As can be seen from the almost nonexistent number of foreclosures, banks have little to no interest in public auctions.

This only drives prices down. It is not always possible without a foreclosure, namely when other subordinate creditors are listed in the land register, whose amount is too high to be compensated accordingly. They can only be removed from the land register within the framework of a foreclosure.

But for normal properties where only the bank is listed in the land register, attempts are of course made to sell privately with the consent of the debtor.
There are also a few special brokers for this, who usually work very discreetly. Therefore, one should have a good connection to the bank. Not only because of the financing.

I myself have already bought directly from the bank. It all went smoothly.
Many debtors also go to the bank on their own and say they want to sell, would if there were a buyer.
There is a lot of haggling.

If you are afraid of the law enforcement authorities, then better don’t ask any bank about anything. Cash is also not used. Anyone dealing with cash is suspicious anyway.

The scaredy-cats just keep looking on Immobilienscout24.de