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The auction<\/a> public represents a real estate acquisition opportunity that is often overlooked by the general public. Among its mechanisms, the overbidding<\/strong> offers a valuable second chance to potential buyers who were unable to win the initial auction.<\/p>\n This comprehensive guide provides you with all the essential information you need to understand and use this procedure effectively, whether you are an individual or a professional.<\/p>\n The bidding war is a procedure legal allowing any person to make a higher offer after<\/a> that an award has been made. It is precisely regulated by theArticles R322-50 to R322-55 of the Code of Civil Enforcement Procedures (CPCE)<\/strong>.<\/a><\/p>\n Article R322-50 of the CPCE clearly states:<\/p>\n \u201cAnyone may make a higher bid of at least one tenth of the main sale price.\u201d<\/p>\n<\/blockquote>\n The bidding mechanism meets two major objectives:<\/p>\n <\/p>\n <\/p>\n 3 situations where overbidding becomes your ally<\/span><\/p>\n <\/p>\n Who can outbid?<\/strong> Article R322-50 of the CPCE is clear<\/a> : any legally capable person may make a higher bid, even without having participated in the initial auction.<\/p>\n Legal prerequisites:<\/strong><\/p>\n \u26a0\ufe0f PLEASE NOTE: Failure to comply with this deadline will render your bid inadmissible, with no possibility of regularization!<\/strong><\/p>\n Article R322-51 of the CPCE specifies:<\/p>\n "The overbid is formed under the constitution of a lawyer registered with the bar of the judicial court before which the sale is pursued. It is denounced by act bailiff<\/a> within ten days of the award.<\/p>\n<\/blockquote>\n Practical calculation of the delay:<\/strong><\/p>\n Case law is strict regarding compliance with this deadline: "The ten-day deadline for submitting an overbid is a fixed deadline, which is not subject to interruption or suspension."<\/p>\n The bidding procedure requires several specific formalities:<\/p>\n Article R322-50 of the CPCE requires an overbid of \u201cat least one tenth of the main sale price\u201d.<\/p>\n Numerical example:<\/strong><\/p>\nWhat is overbidding? Legal definition and foundations<\/h2>\n
Precise legal definition<\/h3>\n
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The objectives pursued by the legislator<\/h3>\n
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The 5 essential steps to successfully outbid others<\/h2>\n
Step 1: Check your eligibility to outbid<\/h3>\n
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Step 2: Strictly respect the 10-day deadline<\/h3>\n
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Step 3: Complete the mandatory formalities<\/h3>\n
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Step 4: Prepare complete financing<\/h3>\n
The legal minimum amount<\/h4>\n
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Additional costs to anticipate<\/h4>\n