France: Buying a property at auction

With France reported to be coming out of recession, many investors believe that France is a good place to buy property, and what better way to buy property than at a French property auction?

Although there aren’t huge numbers of French properties that are going under the hammer, amongst those that are there are some bargains to be had so if you aer considering buying a property in France, auctions may be well worth looking at.

Property auctions in France are a way to save on agents’ fees as well as an opportunity to look at unusual properties.

If you are planning to buy at auction, whatever country you are planning to buy in, there are some guidelines you should always follow.

  • Attend a couple of auctions to familiarise yourself with the process
  • Be fluent in the language of the auction, or have someone with you who is fluent
  • Do your research – don’t walk in blind. Know the properties you are after, and know how much they are worth. Don’t bid blindly as you may end up paying over the odds.
  • Have your finances in order before you start bidding on property.

With French property auctions, there is often a ten-day waiting period after the auction to see if anyone else places a bid 10 percent or more over what you bid. If the property does attract a bid, the lot will go back to auction at the new higher price.

Read why now is a good time to buy property in France.

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