Questions and answers
Question: How serious is the form of real estate transfer via the auction?
Answer: There is no more serious property sale than the auction. All numbers, facts and known or recognizable construction defects must be documented. There can be no greater degree of transparency. Not least because of this, there is also a decree by the Federal Minister of Finance to all subordinate authorities, such as regional finance directorates, federal property offices etc., with the request to deliver to the free auctions. In addition, a quote from the authority "Treuhand Liegenschaftsgesellschaft" (TLG), published in the magazine Bellevue: "At the auction, the result is right. You get the best price for your property in line with the market." (Bellevue)
Question: Why should the minimum price start prices = starting price be as low as possible?
Answer: The auction begins with the starting price. This cannot be undercut. The starting price must provoke a viewing request based on the property data. This is only the case if the starting price signals an inexpensive purchase. The following can often be stated: The lower the starting price, the more potential buyers look at the property and bid in the auction. This results in the desired bidding war, which is a prerequisite for a high hammer price.
Question: What are the costs for me as a seller?
Answer: none. If there is no auction, the financial risk of cost-intensive advertising and notary posting fees lies solely with the auction house. The performance-related owner brokerage is only due upon success (deposited purchase price).
Question: I have entrusted several real estate agents to the property, can they continue?
Answer: No. Because of the cost-intensive personnel and advertising expenditure for the auction house, this only acts on its own. We would be happy to contact your brokers to terminate the contract.
Question: What are the advantages of submitting to your auction house compared to hiring a normal broker?
Answer: "Land that regional brokers can offer to one or two prospective buyers has hundreds of prospective buyers at an auction." (Morgenpost) In addition, the broker is not forced to advertise the property properly, which unfortunately very often does not happen either. The auction house is different. Here the auctioneer bears the entire risk. So he is forced to invest a lot of money in advertising, otherwise he will not be able to sell enough objects and will not be able to cover his extremely high costs for research, notary and auction.
Question: As the seller of a property, do I have to be present at the auction and at the subsequent notary appointment?
Answer: No. The posting contract is so extensive because it contains all the necessary powers. The auctioneer is personally responsible for correct processing.
Question: My property is still heavily loaded at the banks. A low starting price would not cover the very high demands. Can I still post?
Answer: Of course! The auction house will be happy to negotiate for you with your bank regarding the deletion authorization at the starting price. Banks are more than willing to agree with the auction house, especially for objects that are otherwise in danger of being foreclosed, since it is now known that auction sales generally result in much higher surcharges than foreclosure.
Question: How do you ensure that the highest bidder is solvent?
Answer: The auction house naturally checks the creditworthiness of every buyer. This also applies to potential buyers who choose the route via the written or telephone bid. Bidders who are not yet known to the auction house must, in addition to the buyer's commission, also make 10% of the highest bid as a security (deposit).