Breaking News:
17.03.2016

Forced sale

A forced sale of a property falls into the responsibility of the local district court. This decides on the requests on the part of the , charges an independent appraisal expert for the evaluation of the market value and carries out the auction to the forced sale appointment.

The deptor does not share the decision-making to the auction, however, the court watches over the compliance of his property rights, in particular the obtaining of some adequate auction results.


So a surcharge onto a bidder is in the first auction only possible from a commandment of 50 % of the market value. Likewise the  interested in an adequate proceed and have the right to deny the judicial surcharge for his part commandments below 70 % of the market value. If no prospective buyer should give a corresponding commandment to this appointment, a new appointmentis to be scheduled. Then, the at the beginning mentioned value limits are not valid anymore.


Before the auction:

Prospective customers should inform themselves in full detail on the auctioned property. They should object that the auction functions under the principles of “sold like seen”.


> kind and location of the property
> appraisal of the expert, in particular state of construction and earnings
> land register entries, in particular permanent rights and loads
> photo documentation and inspection


All available documents are put together through the A4RES group and can be handed over to you. At the same time we carry out an inspection of the property and create an own photo documentation and short appraisal of the property. With pleasure we organize also a common inspection appointment on site for you. However, we can not take over liability on documents on the property delivered to us.


During the auction:

To the forced sale appointment the personal presence of the bidder or a notarially authorized representative is necessary. If an property is supposed to become purchased together with a partner, all participants must be present personally. The A4RES group will accompany his mandators to the auction appointment and will advise and support his mandators during the procedure.


To the auction:

With delivery of the commandment a security is still to be provided to the court at the level of 10 % of the official market value. It is to be understood as a deposit onto the commandment. The security can be provide as follows:


> confirmed Federal Reserve check
> confirmed state central bank check
> voucher check of a credit institution admitted in Germany to banking transactions. The bank must exhibit a check of the own account on behalf of the bank
> absolute guarantee of a credit institution


The residual payment of the highest bid is to be deposited from surcharge up to the distributionappointment at the responsible court. It becomes charged in this time with 4 % interest p.a. The distributionappointment usually 6 to 12 weeks after the auction.

      
Contact:

A4RES Advisory GmbH 
Chartered Surveyors     
An den Fleischbänken 5     
02625 Bautzen     

phone:  (03591) 3 26 60 0
fax:   (03591) 3 26 60 90
email: info@a4res.de            
    
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