Buying Italian Property at Auction

 

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;

V2843AB 10 Bedroom Accommodation Business –  auction date 12 October 2021. Minimum bid €374,000.

V4896ab Chianti Estate with Olive Grove near Siena – auction date October 2021. Minimum bid €765,000

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 €980,000. Auction October 2021.

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 – Characteristic complex near Siena. Some parts already sold. Minimum bid €576,000

V5091AB Castle on the Lakea huge castle property with permission for a hotel with 75 bedrooms, spa, restaurant, private harbour and church. Auction minimum bid €1,001,642. Ask us for further details.

Please ask for more details if you are interested.

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