Are you attracted to buying a property at a potentially lower price than the market? Real estate auctions, whether judicial or notarial, offer this opportunity, but their process follows strict rules and a precise schedule. Ma\u00eetre C\u00e9cile Zakine, a real estate lawyer, explains step by step the mechanism of this often little-known procedure.<\/p>\n
A real estate auction is a public procedure by which a property is sold to the highest bidder. It can be judicial<\/strong> (in the context of a property seizure) or voluntary<\/strong> (before a notary, at the initiative of the owners). In both cases, the principle is the same: the property is awarded to the bidder offering the highest price, subject to compliance with legal formalities.<\/p>\n Before the sale, a specifications<\/strong> est r\u00e9dig\u00e9. Ce document essentiel d\u00e9crit le bien, les conditions de vente et les modalit\u00e9s de visite. La vente est annonc\u00e9e par voie l\u00e9gale (publication au journal d\u2019annonces l\u00e9gales, affichage au tribunal, et parfois sur des sites experts). Vous devez imp\u00e9rativement consulter ce cahier des charges pour conna\u00eetre les servitudes, les hypoth\u00e8ques ou les droits de pr\u00e9emption.<\/p>\n Unlike a traditional sale, visits are often organized in groups and on fixed dates. It is crucial to go in person to assess the actual condition of the property, as the buyer commits without guarantee for hidden defects<\/strong> in the context of a judicial sale.<\/p>\n To participate in the auction, you must deposit a deposit<\/strong> (generally 10 to 20% of the estimated price of the property). This amount is held in escrow with a lawyer or notary. Without this deposit, you cannot bid.<\/p>\n The sale takes place publicly:<\/p>\n The auction starts at a reserve price. Each bidder can overbid in increments set by the specifications. The property is awarded to the last bidder after three calls without a new bid.<\/p>\n Adjudication is the judgment or act that awards the property. The buyer has a period (often 2 to 3 months) to pay the total price, minus the deposit. In case of non-payment, the deposit is lost and the property is put up for resale at the defaulter's expense.<\/p>\nKey steps in the conduct of an auction<\/h2>\n
1. Publication and prior information<\/h3>\n
2. The visit of the property<\/h3>\n
3. The constitution of the deposit<\/h3>\n
4. The day of the hearing or notarial sale<\/h3>\n
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5. The adjudication and payment<\/h3>\n
Risks and specificities to know<\/h2>\n
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Pourquoi se faire assister par un avocat expert ?<\/h2>\n