french property people

purchase or auction property projects is considered an opportunity where people can receive a stream of income for some famous authors. But buying an auction property is not easy, there are many things you should purchase an auction property. In the usually an indication for an auction is in the local newspaper two weeks before the actual auction date and the buyer to do the necessary checks before going to the actual auction. If the property is auctioned, usually some of them have been abandoned by her owners and locked and that the review is not difficult, unless the buyer wants to view the property in an unauthorized manner. Another possible case is that the owner is still occupying the property and the control under these circumstances, it is not impossible, since owners do not usually welcome buyers to their property, knowing that if a successful sale come, they will have to move.

The buyer is also recommended that the necessary search to the local land office to confirm the rightful owner of the property. To qualify for the auction, potential buyers are obliged to provide a bank draft or bank check in the amount of 10 percent of the selling reserved.

During the actual auction day, when the price is at a very attractive figure, interested parties can fight with the other bids for a higher number if quick decisions are required in the auction hall.

If there are no bidders at that auction faithful day, then the auction with a lower price, usually 10 percent below the previous bid price. So, if there are no buyers, you can wait for the next auction, but remember, low price may be more bidders.

Successful bidder is usually 90 to 120 days to remove the remaining amount of the purchase price. Sometime for a property to a level which they will be auctioned, it may be too many open accounts such as assessment, quit rent, maintenance charges, or account that has not yet been clarified. Sharing the outstanding balance between you and the financial institution, for the allowances to be auctioned may take some time. This, in conjunction with some other red tape can release the payment from your bank financing rather slow, and 120 days seem like a very short time. So it would be easier if potential buyer has a kind of financing, such as with some other property to the detriment of the Bank for the financing, in this case the buyer would be able to purchase with cash obtained from the other, the financing of the discharge to the purchaser to secure the financing with the auction of the property itself within a very short period of 120 days.

Another thing the buyer should take note, is that if the buyer is purchasing the property for trade with the intention of resale to third parties for a profit, the buyer should take note that the transfer of ownership of the auction can not be transferred to the third party directly. The auction of the property must be transferred to name the buyer until the buyer before the court, is now the new owner can buy the property, whoever that from him, which means that buyers who purchase the auction for trade in real estate should be the government of the stamp duty and legal costs involved in the transfer of the property in his name first. The transfer may take a long time, therefore, if the buyer of the auction resell the property to a third party, he will probably have to wait quite a while, until full payment has finally occurred. Since long time, interest and finance charges must be taken into account. Otherwise, the person to whom the property auction trade found that the property auction trade is not as profitable as he initially thought.

Since there are difficulties in controlling the auction properties, as mentioned above, potential buyers who want to buy, to what purpose is that the repair cost at some point the exact condition of the property can not be ascertained.

Buyers should also consider whether it is a reservation on the property, the removal of the reservation may require court order and thus cost.

If the original owner of the property is occupied, it could be a case where the owner may be vacating the apartment, if the bidder successfully purchased, which in this case, injunctive relief may be necessary to ensure the expulsion of the inhabitants, and thus costs.

It is because of the uncertainty and expense in buying the auction properties, which the public are reluctant to even try it sometime, if the property is priced very cheap, it can not be many or none at all on. But for those who are daring, with a strong heart and financially sound institutions, the auction can only be an irresistible opportunity for fantastic return on investment.

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