How to buy real estate from bailiffs for 50-70% of the market value?

Have you heard of auctions where it is possible to purchase property significantly cheaper than market value? For example, 2, and sometimes 3 times cheaper! Typically, such property is confiscated from the owner due to default on debt obligations. Today I will touch on this topic. If you have any questions, ask in the comments, I will be happy to answer them.

The bailiffs can confiscate and put up for auction two types of living space - arrested or pledged. The confiscated property is put up for auction. Now they are held online, and you can apply for participation electronically. To participate, you must have an electronic digital signature. In addition, you will have to pay the required deposit, which, if you win, will be credited as payment for the apartment, and if you lose, it will be returned to you.

The cost of arrested apartments is usually much lower than the mortgage. But you always need to be prepared for the risks and problems associated with the seized property. For example, if this apartment is the only housing of the debtor, minor children may live or be registered there, etc. Perhaps, along with a cheap apartment, you will get lengthy litigation, which will have to spend time, effort and money. facilities.

There is one more unpleasant moment. Until the end of the auction, participants cannot see the apartments offered for sale. Information about real estate can be found in the documents and the compiled description. But no one inspects the apartment itself. Therefore there is rice to buy "pig in a poke". And from my own experience I can say that often housing does not meet the expectations that were formed after studying all the "theoretical" information about the apartment.

The owners of confiscated apartments do not always behave appropriately. Many of them are not ready to say goodbye to their living space, so they try to do their best to harm the new owner. Problems may arise with the eviction of the owner and his relatives, you may face threats and attacks. All this is resolved through the authorized bodies. But you have to get nervous.

In addition, onerous arrests or utility bills can be attached to such real estate. Therefore, when buying apartments from bailiffs at auctions, set aside a certain amount of money in advance in case of unforeseen situations. It will be good if everything goes well! And if not, you must be prepared mentally, physically and financially.

Despite all sorts of troubles, the demand for apartments from bailiffs is very high. The price reduced by 50-70, and sometimes 80 percent is very attractive, because the benefits from such a purchase can amount to huge sums! The main thing is to foresee all the risks if possible. And also be prepared for the fact that, ultimately, the transaction may be invalidated.