Where these properties come from
The property lots listed here come from private German real estate auction houses, the Grundstücksauktionen. These companies hold public saleroom auctions in several major cities, or fully online sales that run over several weeks before a final live phase led by a licensed auctioneer. You will find houses, investment buildings, flats, commercial premises and land. Each property has a starting price, called Auktionslimit or Mindestgebot. Bidorado does not sell anything: it brings these scattered sales together and links to the seller's official website to bid.
Checks before you bid
Read the Exposé published for each property and request the available documents: land register extract (Grundbuchauszug), energy certificate (Energieausweis), letting status (vermietet or leerstehend) and public-law encumbrances (Baulasten). Check whether the property is let or vacant, as this changes your plans. A viewing by appointment is often possible before the sale. Allow for the purchase costs: a buyer's premium that decreases with the price, VAT included, then transfer tax (Grunderwerbsteuer) of 3.5 to 6.5 % depending on the Land, notary fees and land register fees. A financial guarantee (Bietungssicherheit) or proof of funds may be required to bid.
Award, payment and taking possession
The award (Zuschlag) is recorded by a notary present at the sale, which constitutes the purchase contract. You can bid in person, by phone, in writing or online depending on the format chosen. There is no VAT on the property price itself. A foreign buyer, whether an individual or a company, can acquire a property in Germany without special authorisation. Then arrange payment, signing before a notary and entry in the land register. For a let property, the property management and existing leases pass with the property: factor this into your budget and your timetable.