Land purchase through a bidding process - What is the final price?

  • Erstellt am 2020-10-05 06:43:19

ypg

2020-10-05 20:12:51
  • #1
Whoever auctions the property will also build on it quickly - that is the intention of the community... not stupid either
 

Wickie

2020-10-10 08:11:20
  • #2
We also acquired our property through a bidding process. It previously belonged to the church; the bidding process was then handled by the Sparkasse to avoid any appearance of nepotism.

We bid what the property was worth to us. Period. No revisions were possible.
We determined the price through a process typical of eBay: xxx,437.52 EUR. It is also stated as such in the purchase contract. Not that someone would spoil it for us with a bid 1.52 EUR higher.

After 4 weeks, we received a call from the Sparkasse: the highest bidder had dropped out; you are next. Do you want to buy?
Whether the "person above us" bid 40,000 EUR more or 200 EUR? No idea. And maybe the next person "below us" only came in with a bid 10,000 EUR less.

For this region, the property is in a very desirable area. My husband doesn’t come here, and I said from the start: forget it, we’ll never get anything!
Lucky us, and from today’s perspective, the price was absolutely justified.
 

hampshire

2020-10-10 10:12:07
  • #3
Approach the matter with a different mindset. The actual question is what this property is worth to you exactly. That is the amount you bid. If someone bids more, it wasn't worth it to you. If you are the highest bidder, you have not spent more than it is worth to you. The second-best offer and how much or little it was below is completely irrelevant.
 

11ant

2020-10-10 11:18:33
  • #4
Nepotism between the state and the church would also be "purely coincidental or completely made up," but what really surprises me is that the church sometimes sells land instead of leasing or exchanging it.
 

ypg

2020-10-10 11:25:49
  • #5
Off Topic:

The idea of value is anyway neglected in today’s society. People tend to focus more on “stinginess is cool” and bargains. The main thing is cheap. Even a normal price is seen by some nowadays as a rip-off. Or a mafia price. But then adding a huge markup...
.
... sometimes the bidding process fits quite well for real estate.
 

Tarnari

2020-10-10 11:25:53
  • #6

Yep, that surprises me too. Unfortunately, we weren't that lucky. So it ended up as a leasehold.
 

Similar topics
21.03.2015Property and Real Estate Agent16
21.03.2016Land Costs - Building and Financing a House29
16.09.2016False information about the property in the exposé39
27.04.2018Is it better to buy property or not?20
24.05.2018Single-family house with LABO and land from the municipality for €444k16
24.01.2019Buy land - keep the house.. how to proceed best?45
13.02.2019How to formulate a bid for a property?48
26.02.2019Submit a building application before the land is paid for?11
07.03.2019Rainwater retention basin overflows onto the property22
08.05.2022Bidding procedure (real estate)28
28.02.2023Evaluation of Savings Bank Interest Offer17

Oben