Blog: Real estate auctions between individuals: ten rules for beginners

sale, also using the typical auction bidding system of price increases, while providing specialist support and advice in the name of absolute transparency of the whole procedure.

The allure of real estate auctions

The growing popularity of this new tool for buying and selling real estate is also affecting the types of users interested in this sector, and the risk for newcomers and less experienced participants is that they may face many questions and doubts, which can lead to "a few mistakes" that can negatively affect the outcome of the auction. In this regard, a group of experts in Italian private real estate has compiled a useful guide with ten tips for buying''real estate (housing, commercial real estate, land, etc.) at private auction, designed for those new to auction transactions.

The path for a potential buyer in a real estate auction begins with identifying the target property by first browsing specialized websites. It is important to contact one of the professionals responsible for the sale and seek advice on the documents required for presentation and technical details contained in the listing, perhaps requesting a preview of the property in person or via an interactive 360-degree virtual tour.

Another important point to consider relates to the budget allocated to attend a private auction for''real estate sales, and the possibility to obtain information in advance about obtaining a loan from a lending institution to finance the operation in whole or in part. Since private real estate auctions are online sales, it is also necessary to provide the necessary technical equipment (e-mail with delivery confirmation and electronic signature) to fulfill all the previous bureaucratic procedures of the auction and to participate in the trade itself.

The private auction is in fact a democratic system that gives everyone the same conditions to buyreal estate without privileges, and in this respect, transparency is the key word for this type of real estate transaction. Another important feature''This tool is a guarantee that is provided to the buyer: all inspections, which are usually carried out only immediately before the transaction, are carried out here at the initial moment of the auction.