I would disagree - though it
Submitted by modicasa on Tue, 06/16/2015 - 01:22
In reply to A newbie all over again! by Annec
I would disagree - though it depends where you are planning to buy. In the auctions that I have participated on behalf of clients I have been a) warned off b) had the auction declared null because of mistakes by the acting judge and c) almost been sold a completely different property to that i was bidding for. Unless you are fluent in Itlaian, and understand where and what your are buying, leave auctions to others - they can end up bringing more trouble - and you will need siginificant time to complete a purchase if its with incanto - sometimes it can take 2 years or more to get to the point of selling. Undoubtedly there are some people who have got bargains at auction, but you need to know what you are doing. in a small town, buying the house of someone who has been thrown out by the repossessing bank isnt going to make you friends either!
Goodmorning Modicasa,
Submitted by Monia on Tue, 06/16/2015 - 03:58
In reply to I would disagree - though it by modicasa
Goodmorning Modicasa,I'm sorry but I have to desagree with you... Nowadays in Italy when you buy a property from a private individual or a company you must previously verify by yourself if there are mortgages hanging on the property because nobody will tell you if there are problems.Moreover if you buy from a company you have to be sure that the company will not be in bankruptcy in the next 3-5 years because if so you'll have a lot of problems with the property . When you participate at an auction:1- there is the 'expert report' of the 'expert's courts' in wich you can find all the characteristics of the good (cadastral references, mortgages, problems with the urbanistic comformity, usability, etc..)2- you have not to pay a notary or a real estate agency3- once accomplished the bureaucratic acts there is no longer any problem whatsoever, because auctions are managed directly by the Italian courts and because in case of auction it is 100% sure that all the various mortgages hanging on the property will be deleted4- once you have the property of the good nobody could never object any claims5- it's impossible you buy a completely different property in an auctions because the good is identified in the expert report by cadastral references and because you can see previously the good6- mistakes of acting judge are very unusual. Courts judges are pubblic officers and it's very unfrequent to have mistakes in auctions7- normally it's take about 6-8 months to accomplished the bureaucratic acts So I think auctions are nowadays the better way to buy a property at interesting prices and in a safe way.A lot of people are hesitant because they think there will be problems with the property, but I think it's more dangerous to buy directly from a private person or a company rather that buing in an auction. I have to agree with you when you say 'buying the house of someone who has been thrown out by the repossessing bank isnt going to make you friends either'... Thank you, Monia
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