The Auction Process: How It Works
Real estate auctions in Italy fall into two main categories:
- Senza Incanto (Sealed Bid Auction)
- Bidders submit their offers in sealed envelopes by a set deadline.
- A deposit (typically 10% of the starting price) is required.
- The highest bid wins; if multiple offers are close, a competitive round may follow.
- Con Incanto (Open Auction – More Common in Private Sales)
- Conducted in a traditional auction format, often online.
- Bidders register, submit paperwork, and place real-time bids.
- The property is awarded when no further bids are placed within a set timeframe.
What to Watch Out For
While auctions can be an incredible opportunity, it’s important to proceed carefully. Some properties may have legal complications, occupancy issues, or require additional permits. Our team ensures you fully understand the risks before you bid.
- Hidden Costs: Some auctions sell only partial ownership or limited rights to a property.
- Occupancy Issues: If the property is occupied, eviction can take up to six months, though these homes often come at deep discounts.
- Market Value vs. Auction Price: Not every low price is a great deal—our experts analyze real market values to ensure you’re making a smart investment.