Koopproces

Buying a property at auction differs from a conventional property purchase. Good preparation is therefore essential. This page explains the purchasing process step by step, from the initial preparations through to the final transfer by the notary.

Step 1. Prepare thoroughly

Before placing a bid, carefully review all available information about the property, including:

• the property information;
• the general and special auction conditions;
• the overview of costs;
• the available documentation.

Many properties can also be viewed in advance. The auction page will state whether viewings are available and how to register for one.

Every auction is different, so always read the auction conditions carefully. They set out the payment obligations, deadlines and any special provisions that apply to the auction in question.

Step 2. Register and legalize your account

You need an account to participate in a property auction. Once you have created an account, it must be legalized before you can place a bid.

The legalization process allows us to verify the identity of every bidder, helping us ensure a safe and reliable auction process.

Click here to learn more about legalisation.

Step 3. Arrange your financing

Are you planning to finance the purchase of a property? Make sure your financing is in place before placing a bid.

In most property auctions, a bid is binding. It is generally not possible to make a bid subject to obtaining financing, whether by means of a suspensive or resolutory condition. You should therefore know in advance how you will finance the purchase.

Have you not yet arranged financing, or would you like to explore the available options? We can put you in touch with a financing specialist who can discuss the possibilities with you.

For more information about financing, please contact us at info@vastgoedveiling.nl.

Step 4. Place a bid

All property auctions on Vastgoed Veiling take place entirely online. You can place your bid on the auction page for the relevant property.

Some auctions also allow you to submit a private offer before the auction. The auction page will state whether this is possible, the deadline for submitting an offer and how it must be submitted. In most cases, this is done using a bid form that is provided to the notary.

This option is not available for every auction. For example, private offers cannot be submitted in auctions following an attachment.

More information about placing a bid can be found in the bidding Protocol.

Step 5. Await the award decision

Have you placed the highest bid? This does not automatically mean that you have purchased the property.

The highest bid is first submitted to the selling party, usually the mortgage lender. The selling party reviews the bid and decides whether to accept or reject it, or whether to impose additional conditions. A period for consideration applies, which is generally five working days. The bidder may also be subject to further checks during this period.

If the selling party accepts the bid and the notary confirms the decision, the property is awarded to the bidder. The purchase becomes final only at that point.

Step 6. Complete the purchase

Once the property has been awarded, the notary schedules its transfer, usually within a specified period following the award.

The purchase price and all other amounts due must be paid within the period stated in the auction conditions. The exact payment deadline differs for each auction and is specified in the auction conditions and the overview of costs. The funds must be transferred in good time to the notary handling the transfer of the property.

Once the funds have been received, the notary completes the legal transfer. From that moment, you are the official owner of the property.