Pretty Thank You Cards From Hairstylists

judicial auctions

The current economic crisis, the U.S. subprime mortgage bubble, the downturn in real estate prices make it attractive to speculative buying and a property.

The judicial auctions are a tool that allows you to save between 15% and 40% on the market price of the property.

There are some simple rules and procedures to be followed to participate. Given the vastness of the (non-exhaustible in one article), I merely put the frequently asked questions facing buyers of auction houses.

Obviously I urge all those who have decided to buy a house at auction to seek advice from your lawyer and do the necessary checks on the property (cadastral and conservatorship).

We come now to the questions:

- Why auctions?

A debtor who fails to pay its debts can be paid before losing their homes as collateral.

After a complex process the property is sold to the highest bidder and if he wins who makes the highest bid.

present at the Court of Rome, there are hundreds of properties sold at auction and anyone can become the owner.

- Who can participate in the auction?

Apart from the debtor, everyone can participate in the auction, even by its own special prosecutor or a lawyer, bidding in the manner specified by the court order for sale.

- What percentage of the deposit to be paid before participating in an auction?

usually amounts to 10% of the starting price to be paid at the Registry of the Court by bank draft.

E 'that the judge can then determine a further payment as a deposit account charges up to a maximum of a further 20%.

- What cover allowances and expenses related to security?

relating to security checks serve as advance while allowances for the costs cover the approximate costs and expenses for the award, transcripts and volture.

- When do I get the security deposit if I was not awarded the property?
Immediately after the close of auction.

- What is the difference between sales and marketing magic without magic?

Sale without magic, governed by Articles. 570-575 Code, provides for the submission of tenders in a sealed envelope with the Registrar of purchase indicating the price, time, mode of payment and anything useful for the evaluation of the bid. These envelopes are then opened the hearing fixed for the examination of tenders in the presence of the various bidders. If the offer is higher than the value of the property increased by a fifth, is consistently seen as acceptable. If, however, is less than this value, the court can not proceed with the sale if there is a disagreement or if the creditor believes that there are real opportunities for sale with the best system of enchantment. In the case of multiple tenders, is a call for competition among the bidders taking as the base bid price of the highest value. If, however, the race may not take place for lack of signatures, the court decides whether to order the sale to the highest bidder or order of the charm.
Sales with magic, governed by Articles. 576 to 590 CPC provides for the immediate implementation of a competition between the various bidders. The enforcement court establishes the means by which to effect the sale, the base price of the spell, the date and time of the auction, the minimum size of the increase to be made to tenders, the amount of the security arrangements and the period within which the price must be deposited. Offers can not be effective if they do not exceed the base price of auction or tender prior to the extent indicated in the order sales. Each agent is no longer required to maintain its offer when it is overtaken by another, even if this is declared void.

- When must I pay the price of the property?

Within 60 days from the award or within 180 days from the award by paying the legal interest from 61 days.

- When the well is awarded for good? What is meant by "increase in the fifth?

The award will become final after a good 10 days from the award provisional. In the case of auction, you can complete additional offers to purchase within 10 days of the award. These offers are to be effective, must not be over one-fifth the price achieved in the enchantment. Again, you must lodge with the Registrar supply and integrate the security which must be twice that required for participation in the first auction. Verify the correctness of these additional offerings, the national index of the match for giving a public warning and communication to the contractor.

- When I become a landlord?

we become owners of the property transfer from the issuance of the decree, an interlocutory order equivalent to the notarial deed in the sale between individuals.

- It 's possible to apply for a mortgage?

E 'can apply for funding from financial institutions affiliated with the Tribunal. The list is available from the Clerk of the Court.

- can participate in an auction a subject other than that to which the property will be payable?

The Code of Civil Procedure art. 579, entitled "Persons entitled to the charms," \u200b\u200bthe possibility that the auction involved a subject other than that to which the property will be payable. This person will, however, be provided with a proxy.

- What happens if you resell the property within 5 years after purchase?

If a capital gain derived from the sale of the property, ie a positive difference between the consideration received and the purchase price, the same shall be subject to ordinary taxation with normal income tax rates.

Alternatively, the taxpayer may, at the time of sale, which is applied on the capital gain the replacement rate of 20%.