Discover Properties below Market value

Local Auction is the leading online platform for foreclosure auctions in Germany. We provide a comprehensive overview of all upcoming judicial property auctions. With Local Auction, you can search specifically for properties, learn about auction dates, and access all relevant documents such as valuation reports or auction notices.

The process is legally regulated in the ZVG (German Foreclosure and Forced Administration Act) and includes the following steps:

1. Application: The creditor files an application for foreclosure at the responsible district court.
2. Valuation: A court-appointed expert determines the market value.
3. Announcement: The auction date is published at least six weeks in advance.
4. Auction: The auction takes place in the court. Bidders place their bids in the courtroom.
5. Award: The highest bidder receives the award if the legal requirements are met (e.g., achieving 50% or 70% of the market value in certain cases).
6. Transfer of ownership: After full payment of the winning bid and completion of court distribution, registration in the land register takes place.

Any legally competent person can bid. You need:

• a valid official photo ID,
• a security deposit of 10% of the market value (e.g., transfer to a court account, Bundesbank check, or bank guarantee).

• Review documents: Carefully study the valuation report, the auction notice, and, if applicable, the encumbrance register.
• Inspect the property: If possible, get an impression of the property’s condition.
• Secure financing: Clarify with your bank in advance how the financing of the winning bid can be secured.
• Prepare security deposit: Ensure the required 10% deposit is arranged in time.
• Set a strategy: Define a maximum bid and stick to it – the award is legally binding.