While acquiring a property isn’t within everyone’s reach, they are there alternatives that help so that the outlay is not so high and therefore being an owner becomes a reality.
To date, the properties up for auction are a great opportunity for anyone interested in buying a cheaper housing. Houses which, on occasion, can be seized by the Treasury and with which particular care must be taken to avoid future complications or last-minute surprises.
What does it mean when a property is seized?
There are those who, regardless of whether they are a natural or legal person, ask the court to auction their home Pay off a debt, or because it was not possible to pay off the mortgage or for other reasons. A petition leading to the seizure of said assets.
From that moment on, the property is auctioned at a price that can go up to 50% less than what is set by the market real estate, as indicated by the Idealista portal. Some homes that, through a new search system launched by the Revenue Agency, are published in the Portal of the Official State Gazette (BOE).
However, when buying in a judicial auction Several things must be taken into consideration to avoid, in the future, having problems that could lead to paying an extra amount of money and therefore not being as profitable and becoming a poisoned occasion.
What are the disadvantages?
If you are interested in participating, know that you have to pay a fee for each offer deposit equal to 5% of the total price of the desired property. An amount that you will lose if, in case of winning, you decide to refuse it. If you accept, you will have 20 days to pay the remaining percentage, otherwise you can apply for a mortgage.
Even if in plain sight looks like a deal It must be taken into account that there may be debts excluded in the final price and therefore were not considered in determining the amount to be paid at the auction. Corresponding payments to the community or the house which, although corresponding to the previous owner, will have to be paid by the new one.
Another danger is that the person interested in buying the property, despite being aware of all the data and details of the same, may not know the real state of the house, since it is delivered as it was at the time of the foreclosure.
For this reason, at NIUS we recommend the preventive advice to avoid future surprises or misunderstandings that can directly affect your economy.
