How to Buy a Property at Auction

  • First of all view the properties that are offered for Auction by viewing on our website, which offers full property details and the guide price.
  • Alternatively you can lodge your details with us – we have many properties offered to us which may not be suitable for Auction purposes but may fit your requirements. We will then match these properties to you and contact you to see if you are interested in them.
  • Inspect the selected properties and arrange surveys if you require them.
  • Check the property documents are in order. These are usually available from our office 10 days prior to Auction. If the Lot is a late entry, the documents will be available by the day of Auction.
  • Arrange any finance you may need, we recommend our Trusted Partners Marbella Mortgages
  • Enter your Written Bid on your selected property
  • Please note that whilst Direct Auctions take every precaution to ensure the property and its details are correct, Direct Auctions cannot be held liable for misleading information passed by the vendor or the vendors agent. Properties bought via Auction at the Buyers risk and the Buyer is deemed to have taken legal and professional advice.
  • PLEASE NOTE ANY PERSON WISHING TO BUY IN SPAIN MUST BE IN POSSESSION OF AN NIE NUMBER ISSUED BY THE COMISARIA DE POLICE AND THIS DOCUMENT MUST BE AVAILABLE AT NOTARY AND TO APPLY FOR A MORTGAGE.
  • You may bid for properties using our online bidding service. All online bidders must confirm they have read the relevant terms and conditions. All bids are presented to the Property Owner.  The bidder must guarantee the reservation fee is available via credit card or lawyers letter.
  • Direct Auctions strongly recommends you have finance in place in principal before bidding for a property. That way you know how much you can bid up to taking into consideration any cash you may have. Please contact us for mortgage pre-approval from our independent financial advisor. Please Contact Patrick Robinson of Marbella Mortgages directly.

How do I pay for a property at Auction?

  • If your bid is successful you will be required to sign the reservation contract. This is available for inspection prior to auction or on auction day, produce your identification and pay the required deposit of 3000 euros
  • The balance of the purchase price is normally paid within 45 days of the Auction
  • Should you need finance, we recommend our Trusted Partners Marbella Mortages

How do I view Properties for Auction?

  • By contacting Direct Auctions either by e mail, via the website, or telephone +44 (0) 1702 868108 to arrange an accompanied viewing of any property at any time up to the day of the Auction.

Can I only buy on the day of the Auction?

  • No, you can place a bid on a property either prior to Auction through the Auction House, or you can place a bid on any property after the Auction if it was not sold on the day of the Auction.

How long before I complete the sale?

  • Normally within 45 days after the Auction, further extensions can be negotiated.

What are the costs of buying at Auction?

  • We do not charge you to buy a property at our Auctions and there are no hidden costs.
  • After buying at Auction you will be required to pay the standard legal fees, purchase costs and any VAT (iva). Your lawyer can advise you further.
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PROPERTY OF THE WEEK

auction proeprty of the week

Alicante

Berth, 0 Bed - 0 Bath

property for auction

valuation:

guide price: €75,000

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