Does buying a house at auction really save you money? The answer is affirmative! Indeed, that’s the only real reason why the auction market in Italy grows so fast. In addition, the auction market offers a great choice in terms of properties.
Why do properties go to auction? There are 3 main reasons:
- The property is owned by a citizen who is unable to pay his debts.
- The property is owned by a company that has declared bankruptcy.
- The property is owned by a public body or by the Italian State which is obliged to sell the property through a public auction.
In addition, contrary to some time ago, it must be known that now it is possible to visit, before the purchase, the property put up for auction. Of course, the procedure is different, as you have to make a request on the ministerial site deputy or ask directly to the delegate for custody.
Properties at auction for less than 50,000 euros
To help you in your search, we offer 1500 listings of properties at auction for less than 50,000. All properties have an elevator and are in good condition.
Public houses on auction, how to participate – Invimit website
Invimit Sgr, a company 100% owned by the Ministry of Economy and Finance, has put up for sale maisons publiquespublic houses at auction in 33 Italian cities including Milan, Venice, Palermo and Florence. There are about 474 properties in all, for a total value of over 155 million euros.
Here’s what you need to know to make an offer
The first step is to visit Invimit’s website and go to the section Real Estate Showcase, where it is possible to consult all the offers for the properties at auction.
Here you can download technical documentation, prices and the rules for submitting bids. Then you can call the toll-free number 800 190 569, from abroad +39 0835700045 for information on the procedure and the forms necessary for the submission of the bid.
Also at this number you can book an inspection: it is possible to visit the properties at auction up to 10 days before the deadline. Up to two people can participate in the inspections. Private citizens or investors can participate in the purchase by offering a price for the purchase equal to or greater than the sale price indicated in the auction notice. Once all the offers have arrived, a public auction will be held, the date of which will be communicated on the Invimit website.
What are the public houses at auction
There are various types of properties on auction: residential homes, former businesses and offices. As anticipated, 474 units for sale, for a total value of over 155 million euros, located in 33 Italian cities including Milan, Rome, Venice, Turin, Florence, Bologna, Trieste, Palermo and Sassari.
Lombardy is the region with the most properties for sale: 53 in all, including homes, stores and offices for a total value of over 17 million euros.