Where the apartments for sale come from
The apartments on offer come mainly from private real estate auction houses, the Grundstücksauktionen. These companies organise public room auctions in several major German cities, or fully online auctions that end with a live phase led by a licensed auctioneer. The lots may be rented apartments (vermietet) or vacant ones (leerstehend), from estates, portfolios being restructured or owners wishing to sell quickly. Each property is presented with an exposé and a starting price, the Auktionslimit or Mindestgebot. Court-ordered forced sales, the Zwangsversteigerung, are not yet listed on Bidorado.
Checkpoints before bidding
Read the exposé and the attached documents: land registry extract (Grundbuchauszug), energy certificate (Energieausweis), occupancy status, easements and charges (Baulasten). Check the starting price, the sliding-scale buyer's premium, then the purchase costs: transfer tax of 3.5 to 6.5% depending on the Land, notary and land registry fees. The price of a property does not bear VAT. Allow for renovation budget and co-ownership charges. A financial guarantee (Bietungssicherheit) or proof of funds may be required to bid. A foreign buyer, whether individual or company, can purchase without special authorisation.
Viewing, bidding and handover of keys
Viewings usually take place before the auction, by appointment with the auction house. You can bid in person, by phone, in writing or online depending on the arrangements. The award (Zuschlag) is recorded by a notary present at the auction: it constitutes the purchase contract. Then arrange payment, publication of the transfer and land registry registration. For a non-German-speaking buyer, have the documents translated and check the occupancy status before committing. Local advice or a German notary remains useful to secure the transaction.