How to participate in the auction

An atypical form of purchasing a property is purchased at public auction. The reasons why a home goes to public auction are varied, mortgage defaults, disputes between owners, tax debt, etc. born in misery and sad history of disputes that end up in court that the property does go to stop the sale at auction by the courts. Before, these buildings fell into a semi mafia network coexistence between employees of the courts and the auctioneers called, which made it almost impossible for an individual's participation in this business. Today we have come in large part these maneuvers and individuals can participate in these auctions, but the fact is that the uncertainty that occur away from the fans and usually houses snapped up at auction the regulars ..

To be informed Internet gives us some tools. The best way to find out what there is to check the auction site that has the best information on judicial auctions that take place in Spain.

Among the most basic advice and in turn essential to safely go to an auction are the following:

1 .- Finding out everything that comes up for auction and choose the good of interest. The easiest way is to subscribe to and complete auction, which has specified costs on its Web products and services, however there is a wide possibility of free consultation on your web page where you can select by type of province and so on. The payment service automatically reports via e-mail from auctions of goods complying with the conditions set.

2 .- Visit the property and get the most information. If the occupant is the defendant may be interested in going to sell before the auction. Once you select the right person should visit and contact the owner, then there is the possibility to reach settlement agreements before they reach the auction date. Visit to the property only dropping down to see the state it is and its surroundings, house containing housing, neighborhoods, communities etc.3 .- Consult the Land Registry and analyzing the loads. If in doubt consult your attorney. The Land Registry is a public service cost is not excessive, Today http://www.registradores.org/principal/indexx.jsp property registrars send a single copy on the Internet to anyone who requests it. In that document there is information about who are the owners and mortgages and easements affecting the property. This chapter shall suffice to elect to dispense with many goods unclear legal situation. Since then my advice is not to advance a single euro by any means without proper counseling legal.4 .- Obtain adequate funding for the purchase through your bank. You can also go to the bank and also performer can claim for you.

Many cases of public auction for unpaid mortgages is, in this case the bank makes it easier than performing another purchase of bien.5 .- Consign bid bond and the day of the auction. To participate in a public auction to be entered in a bond that return cash to those who do not win the bidding and winning and retaining the payment of the remaining signal. This bond to be entered prior to the day of puja.Debemos consider the following points-Despite the announcement of the auction there is no assurance that it is carried out, as the debtor may release the auctioned to pay the debt plus interest and expenses. No starting price, however, to obtain approval of the auction we will be the highest bidder and the bid to cover a percentage depending on the type of auction, therefore be the highest bidder does not guarantee that we award the subasta.A interested in this subject who would advise reading the information contained on the website of Public Auction, it is abundant and of the highest quality.

Source: Judicial Auction