Auctions conveyancing solicitor
Notaries' public real estate auction sale (or vente à la bougie - sales by candlelight) are an original way of selling your property. They are held in the chambers of notaires, on site or on premises near the property being sold.
How a notaries' public real estate auction sale take place?
Before the notaries' public auction sale
The notaire and seller agree on a starting price, which is usually estimated at 75 % of the property value. The notaire then advertises the sale in the press, on posters, on the Internet, etc.
During the three weeks running up to the actual sale, the notaire, whose contact details appear on the advertisements, answers any questions from potential buyers. He also tells them the time and day on which the property may be viewed.
On the day of notaries' public auction sale
Following the announcement of the reserve price and the amount of additional costs borne by the contractor, we light a little bit that materializes the auction begins.
During the auction, each bit that turns off is replaced by a new one, and so on. After the extinction of two successive fires, materialized by the smoke that escapes, and without new auction occurred during combustion, the award is pronounced in favor of the highest bidder.
The deposit cheque submitted by the buyer to be able to bid is cashed immediately. The buyer then has 45 days in which to pay the balance (If no higher bid has been made within 10 days after the meeting).