If you are looking for a bargain it is worth considering a distressed sale which is for sale at auction or is due to be auctioned soon.
In other countries people may choose to sell a property at auction. In Italy it goes to auction if being sold off by the bank or receiver due to non payment of debts/charges on the property, to recoup the debt owed.
Thanks to our huge network of contacts, and a lot of searching, we are able to let you know when we find something we feel is a great property which meets the criteria of most foreign buyers, and which available at a very low price, much less than the market value. We can fully assist including providing initial information, viewing, and taking you right through the auction process until the property is yours.
A few things to bear in mind;
– it is sometimes possible to agree a sale with the bank before a property goes to auction. We can assist fully.
– if the property goes to auction and does not sell, a date will be set for the next auction, at a lower price (usually 10% lower than last time it went to auction).
– fees and taxes are payable.
– properties going to auction have already been surveyed and a full survey is available to have a look at.
– we can assist you fully the whole way through the process.
– in order to bid at the auction you need to be there (or delegate someone to be present) with a deposit in the form of a bankers draft.
– once you have paid the balance you may not receive the keys for a while, when the case is closed.
– few people attend Italian auctions, they are often completely deserted, so you stand a good chance of winning!
– if you are ready to buy and willing to put in a little bit of extra effort, you can find a great bargain.
Here are a few of our current distressed properties available at auction;
V5061AB Chianti Farmhouse to Restore Farmhouse and outbuildings near San Casciano Val di Pesa. Minimum bid €445,000. Auction date 16 January 2020.
V5019AB Portion of a Farmhouse to Restore in the Val d’Orcia Farmhouse and outbuildings to restore with 21 hectares of land, near Pienza in the Val d’Orcia. Minimum bid €284,000. Auction date 21.2.20
V5011AB Val d’Orcia Farm with DOCG Vineyard for Sale In the sought after Val d’Orcia in Tuscany, 17th century farmhouse / agriturismo with stables and 110 ha with a DOCG vineyard and olive grove. Minimum bid €1,293,000. Auction date – February 2020.
V5002AB DOCG Winery and Farmhouse near Montalcino – Restored farmhouse and outbuildings, 17.5 hectares with extensive vineyards. Minimum bid €1,574,000. SOLD for €2.36 million, 1.10.19
V4861AB Val D’Orcia Property with 30 Hectares Main building plus outbuildings, and a large amount of land. Minimum bid €277,000. Auction date 8th November 2019. SOLD
V4770AB Newly Restored Val D’Orcia Property with Pool A recently restored (to complete internally) large 9 bedroom farmhouse in this stunning area. Minimum bid €438,750. Auction date 11.2.20.
V3231AB Olive Oil Farm with 4,000 Olive Trees. Close to Pienza. Minimum offer €372,000. Auction date not yet announced.
V4703AB Arezzo Borgo with Pool + Spa Facilities Tourist accommodation and function business with 12 luxury rooms/suites, restaurant, function room, swimming pool and spa facilities with a sauna, Jacuzzi and treatment rooms, near Arezzo. Minimum bid €892,000. Auction date not yet announced.
v4332ab Siena Castle Estate
V5091AB Castle on the Lake – a huge castle property with permission for a hotel with 75 bedrooms, spa, restaurant, private harbour and church. Auction minimum bid €1,780,000. Ask us for further details.
Please ask for more details if you are interested.