Why buy a property via auction?
An auction house specializes in the sale by auction of unique and distinguished properties offered on behalf of sellers who prefer a date-certain sale in comparison to a more lengthy sale process filled with market uncertainties. In most cases, the vendor of the property is more willing to sacrifice on price than time.
There are several reasons why one might be in a hurry to sell a property, some being: bank repossessions, inheritance, purchase of another property, relocation, marriage disputes, etc.
Advice and consultation on permanent residency for high network individuals, financing, investment opportunities and personal attention is given to each individual client.
Auctions are implemented with the highest degree of professionalism at the local, national and global level. Malta Property Auctioneers only offers properties which are in demand and pays special focus on luxury and unique properties.
What type of properties are listed at auction?
Anything from luxury villas to small one bedroom apartments can be found during any of the four auctions held each year. The Malta Property Auctioneers experience is not based on traditional brokerage methods alone, moreover, it has highly trained staff that are highly knowledgeable about the advantages that the auction method holds.
What can potential bidders learn about auction properties before bidding?
All properties that go under the hammer are advertised regularly through various mediums, including local newspapers, magazines and online websites. Interested parties can also register online to receive regular updates as well as auction catalogues 30 days prior to each auction. This allows people to determine in advance which properties they wish to view and get an idea of their maximum price. Typically, pre-auction offers are accepted – meaning that the sale could go through ahead of the auction provided that the offer is accepted by the vendor.
The auctioneer will conduct preliminary searches on each property and will compile information packs on each lot – which would include property plans and permits. These would be made available on request. A blank promise of sale, enclosing the details of the property itself, would also be included. If one wishes to make property survey or have an architect inspect a property prior to bidding, this is permitted at a specified cost.
Mr Pierre Faure, founder of Malta Property Auctioneers, organised his first auction early in 2007 and, since then, has never looked back. Working towards their 36th property auction, Malta Property Auctioneers has lots placed on auction in Malta and Gozo. Properties that reach up to a total value of approximately €100 million each year. More and more foreign and local purchasers are seeking this new trend in real estate.