5 Things to Know if you want to buy real estate at Grasse Court auctions

Auctions in Grasse constitute an interesting alternative for acquiring real estate and movable property at prices often below the market. Whether you are an investor, a first-time buyer or simply looking for a good deal, this complete guide will allow you to understand the different procedures, the steps to follow and the advice to participate in auctions in Grasse with complete confidence. Only necessity: have the funds or an agreement in principle from your banker! As a reminder, you can find the list of goods to be sold at auction here.

1. What can be found for sale at the Grasse Court auction?

The Grasse court organizes two types of auctions:

• The real estate auctions : They concern apartments, houses, land, garages, etc. These assets can come from property foreclosures, judicial liquidations or vacant inheritances.
• Sales to furniture auctions : They concern furniture, jewelry, paintings, works of art, etc.

The Grasse real estate auctions offer all types of property: this ranges from an apartment, a parking space or simply private land which is under the jurisdiction of the Grasse Court.

2. The different procedures

Two distinct procedures govern the auctions:

• Judicial auctions : They are ordered by a judge and supervised by a lawyer. Most properties put up for sale in Grasse are sold via this procedure.
• Voluntary auctions : They are organized at the request of the owner of the property, who wishes to sell it quickly. This procedure is less common in Grasse.

3. Steps to follow to participate in the auction

A. Find out about the properties

• Consult the sale catalog: available online on the website of Grasse court or from the lawyer in charge of the sale.
• Visit the properties: if possible, to get an idea of their condition and value. This step is essential.
• Ask for estimates: from real estate experts or auctioneers for movable property. Otherwise, make up your own mind knowing that you will have costs to add (consult our estimated calculator for this).

B. Take contact a lawyer.

• To be able to respond and bid (push the bids), you must have a lawyer's office (you must be a lawyer). To do this, contact a lawyer who does auctions and ask them if they are already booked for this period.

C. Post a bond

• A sum of money that guarantees your commitment to pay the hammer price if you win the auction.
• The amount of the bond is generally 10% of the initial price. Payment by cashier's check must be given to the lawyer who will push the bidding.

D. Cross your fingers

• The sale takes place in the courtroom at Grasse court.
• Instruct your lawyer to push the stakes and hope.

4. Fees to pay

In addition to the hammer price, you will have to pay the following fees:

• Auction Fees : 14.28% of the hammer price.
• Recording rights : for real estate sales, vary according to the sale price.
• Attorney fees : if you use a lawyer to assist you (which is mandatory for real estate).

5. Tips for participating in auctions

• Set a budget and do not exceed it. (this is why lawyers are necessary)
• Be careful and don't get carried away by the adrenaline of selling.
• If in doubt, do not hesitate to call a professional (lawyer, real estate expert, etc.).