Buying through judicial auctions in Italy
In general, buying through judicial auctions is as safe or even safer than buying privately, because all transcriptions and registrations are canceled, it’s like buying a new property.
The most common problems are with the Municipalities for violations of urban planning law when buying through auction. For this reason, it is very important to study the files of the properties before the auctions, to be able to estimate any regularisation and amnesty work that might be necessary for the properties. Usually the prices of the properties on auction follows the rule of; the more problems the lower the price, and therefore accepting the risk of some problems allows you to do excellent business.
Currently, Italian law admits that a property can be bought at an online auction from all over the world, without having to come to Italy for the auction. This opportunity is of course interesting for international buyers. Online auctions are also dramatically reducing property prices, because the procedures are complicated and foreign individuals are having a hard time buying.
When you buy at auction you pay the registration tax as in a normal property purchase, you need to pay a cancellation fee for any existing mortgages, but usually you do not need to pay the notary, because it is the judge who transfers the property. This, however depends, since the officials who make the auctions are paid by the court with the money obtained from the sale, but sometimes the judge decides to make the buyer pay the expenses for the delegates to the purchase.
Through online auctions you can find interesting investment opportunities throughout Italy and we will help you through this process; from finding interesting properties according to your needs and investment strategy and the complete auction procedure. We work closely with Italian lawyers for the auction procedure to ensure a safe and smooth acquisition. Get in touch for complete info about the possibilities to buy Italian real estate through judicial auctions.