Where the houses for sale come from
Houses offered at auction in Germany come from sales organised by private property auction houses, the Grundstücksauktionen. These companies hold public room sales in several major cities, but also fully online sales that run over several weeks and end with a live phase with a licensed auctioneer. Properties can be detached houses, investment buildings or more unusual lots. Each property has a detailed description, the Exposé, which sets out the rental situation, easements and available documents. Court-ordered forced sales, the Zwangsversteigerung, also exist, but they are not yet listed on Bidorado.
Checkpoints before bidding
Before bidding, read the Exposé and the associated documents carefully: land registry extract, energy certificate, rental situation, easements. Check whether the property is let or vacant, as this changes your plans. A financial guarantee or proof of funds may be required to bid. The starting price, called Auktionslimit or Mindestgebot, is the threshold from which bids are accepted. The award, the Zuschlag, is recorded by a notary present at the sale, which constitutes the purchase contract. Also budget for the costs: degressive buyer's commission, transfer tax of 3.5 to 6.5% depending on the Land, notary fees and land registry fees. Viewings are often by appointment before the sale.
Bidding and completing the purchase
You can bid in person, by phone, in writing or online, depending on the terms of each auction house. A foreign buyer, whether an individual or a company, can acquire a property in Germany without special authorisation. After the award, the notary draws up the purchase contract and the land registry formalities are started. Budget for the purchase costs on top of the hammer price. Bidorado does not sell anything: it gathers the sales and directs you to the seller's official website to bid. Bidorado's Radar helps you spot property sales that go unnoticed outside Germany.