Service

 

INCOS grants "Ausländer" the special chance to have a full picture regarding:

 

1. Description of real property which will be auctioned in the nearest future:

  • General and exhaustive internal and external description of house or apartment including indication of the living and useful area as well as the year of construction;
  • Wxact location, map-zoom with approximate distance to Frankfurt am Main and picture of the object if available;
  • Open market value evaluated by an independent engineering company on request of the court and the bid expectation;
  • Date, place and number of the auction that shows whether house can be bought for 50% or even less than 5/10 of the market value;
  • Full expose, location and page of the cadastral register containing information about the object
  • Object reference Nr.

 

2. Preliminary price calculation including:

 

  • The 10% bank guarantee of the open market value required on the auction day;
  • Bid evaluation taking account of the auction number;
  • Taxes and registration fees;
  • Total expenses.

 

3. Financing possibilities Germany:

 

  • Mortgage opportunities in percentage of the awarding bid;
  • Own capital requirement;
  • Interest rate;
  • Credit period.

 

 

NOTE: Customers can buy properties they are interested in directly from the owner even if the compulsory auction is already announced. If the owner (not bank or court) wants, he can sell the object, but this is not recommendable. While purchasing by auction is possible even if the return does not cover all the debts, it hardly happens in case of a direct purchase as the debts are too high and the buyer has to pay additional notary costs. It is advisable in case of a "partition auction" when two co-ownership parts cannot solve their claims amiably but in the court.

Besides provision of information services, through competent and careful preliminary Consultancy, our company helps people from abroad purchasing by auction real property in Germany only from the court and without price and charge speculations. We expertly consult (info@INCOS-services.com) how to purchase by auction in Frankfurt am Main and its neighbourhood the best objects under the best conditions in an absolutely transparent, open and entirely legal way with regard to:

 

 

 

  • Terms and Conditions regarding legal procedures of the court, auction process, court regulations for foreign citizens, bid and bank guarantee requirements and post-auction payment and registration arrangements;
  • Financing schemes and credit possibilities in Germany including interest rate and period of credit estimation;
  • Best bidding tips, tactics and strategies to buy as much as possible under open market value;
  • Reasons to buy by auction real estate in Frankfurt am Main or its vicinity showing your savings, price comparison and profits from your investment in short- and long-run if rented or sold.
  • Safe and easy strategy advising you what it takes step-by-step from getting contact with INCOS until you get registered in the cadastral register.

 

After the decision to take advantage of this exclusive chance as soon as possible, INCOS will take you personally for a partial or full concrete Assistance package from sending the expertise report until the entry of customer's name in the cadastral register. The company will guide you through all the technical procedures before, during and after the auction or entirely overtake this function and on the basis of a legal representation agreement act on your behalf and only in accordance with your instructions and expectations.

 

Thus, the service is subject to 2 special packages:

 

  • Personal bidding with arrival in Germany;
  • Derogated right of bidding to INCOS through an agreement of representation (power of attorney) and letter of credit.

 

In accordance with your choice, the package may include:

 

  • Expertise report (ex.) provision executed by an independent engineering company on request of the county court to evaluate the open market value of the object;
  • Pre-auction preparation of documents of representation, specification of bid limits and bidding instructions (if package II) as well as bank guarantee and insurance letters;
  • Judicial and financial consulting assistance as well as making of necessary appointments in Germany;
  • Arrival assistance including translation, pick-up from the airport by our team, hotel accommodation, visit of the object on the eve of the auction;
  • Assistance and tips during the auction session;
  • Post-auction consultancy.

 

We would like to draw your attention to the fact that that we do not provide legal advice and financial consulting. Incos Group will kindly assist you in all coordination issues and connection with our partners:

For all financial questions legal questions Vermittlungsgesellschaft für Finanzdienstleistungen mbH "Haus & Wohnen" will kindly consult you:

 

 



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