Questions about IMVE Real Estate Auction
FAQ
How and starting from when can I offer?
As soon as the properties are set, you can place your bid at any time.
I would like to offer online before /and/ or during the auction
To bid online, you must be registered and provide an offering contract. You will be unlocked by the auction house and may bid now at any time.
I would like to make a bid before the auction
You may submit a written bid for the auction. For this, the conclusion of an offering contract with your maximum bid is required, which you can request under "Real Estate Auction - contract documents." Your bid must be equal to the auction limit and / or above the actual current bid. The auction limit may not be undercut.
Do I have to be present at the auction?
If you deliver an offering contract with maximum bid, do not need to be present at the auction, neither personally, nor by telephone nor by an authorized person.
You will be represented reliably by an offering agent of the auction house.
What does mean maximum bid?
Setting a maximum bid.
The maximum bid is the highest price you are willing to pay for the object, which is the amount you would spend most on the object.
The auction house acts for you as an Offer Agent, who practically takes up the bidding for you.
Your offering agent will increase his bid always at the lowest possible offering step, but only until the point your maximum bid is reached. He will exceed it in no case!
When there is no more overbid your offer agent stops immediately. Therefore you will receive your award always to the best possible price.
Bidding by phone during the auction
Telephone bidding during the auction is possible.
For this the conclusion of an offering contract with minimum bid is required before the auction date.
For the conclusion of such an agreement please request the offering contract by phone or by email from the auction house, or you can download it here by a mouse click.
You will then be called by us during the auction.
Bidding during the auction in person or by an agent
If you decide to bid on one or several objects, it is advisable, regarding an exemption from the offering security, to send by fax to the auction house a completed "agreement on the delivery of the minimum bid".
If you offer without written agreement, a security at a value of 10% of the sale price is to be ensured. The remaining purchase price is to be deposited four weeks after award.
Why should I make a minimum bid?
It is recommended that in any case, to deliver an offering contract with a minimum bid, in terms of an exemption from offering security.
If you bid without written agreement, a guarantee of 10% is required from the final sale price. The remaining purchase price is to be deposited four weeks after award.
What means minimum bid?
The minimum bid must be equal to the limit (starting bid) and / or above the present current bid. The starting bid may not be undercut.
Does it cost anything to bid in real estate auctions?
No! Registerung and bidding are free.
Unless you bid for something.
With successful award IMVE real estate auctions requires commission from buyers.
What means proof of solvency?
It means to demonstrate your ability to pay.
As a proof serves the copy of an account statement of a Giro, deposit, fixed deposit account or a deposit statement from your bank
Commission and fees
Upon successful award the auctions are for buyers commission fee requiring.
Please consider also further additional charges.
The commission is always due with certification of the notarial purchase contract,
and earned and payable upon receipt of invoice. The amount of the auction commission refers to the price of adjudication and shall be in echelon:
Commission for the buyer:
To Euro 9,999 - 17.85%, including VAT.
From Euro 10,000 to Euro 29,999 -11.90%, including VAT.
From Euro 30,000 to Euro 59,999 - 9.52%, including VAT.
From 60,000 - 7.14%, including VAT.
The purchase price is to be deposited four weeks after award; amendments thereto require the approval of IMVE or of the Auctioneers and should be agreed before the auction. Additional costs will be incurred for negative references and regulatory approvals as well as notary and legal fees.
Notary fees are set by law in Germany in the costs order.
Further costs:
Real estate purchase tax
Land register costs: Land register costs are legally regulated in Germany.
What happens after the acceptance of bid ?
After the award the contract shall be authenticated by the notary, present at the auction. "Confirmatory contract of purchase after issued award"
This was available for inspection and is known to the purchaser.
The signing is done by the purchaser or his authorized representative to sign.
For the seller sign authorized employees of the auction house.
When does the authenticity of the sales contract take place?
According to the auction conditions following the auction.
When does the delivery of the object take place?
The handover of the object takes place - as far as no deviating agreements are made in individual cases - on the first of the month following the contractual deposit respectively payment of the cash purchase price.
Can I pay also by credit card?
Yes, IMVE real estate auctions accepts all usual credit cards.
What means post-auction sale?
Post-auction sale is the auctioneering term used for sales outside the auction room of lots not sold at a particular auction. Post-auction sales begin immediately after an auction and usually last for four weeks (see Conditions of Sale). The post-auction sale price is usually the first price at which the lot was called at auction.
You still have more questions?
We will be happy to answer you.
You still have more questions?
We will be happy to answer you.
Please contact us by phone or via the support form>