What is an auction?

An auction sale to the highest bidder. Potential buyers make consecutive offers and the highest bid will be the selling price, if it is accepted by the seller. These sales are done exclusively by a notary.

An auction guarantees you the speed, transparancy and correct price to be obtained. That is why the law sometimes imposes this procedure in the framework of a number of legal sales (e.g. when the sale is ordered by the court). However, this procedure can also be applied for regular, voluntary sales.

The sales conditions are mentioned in a "beschrijf/lastenboek": this is a deed drawn up by a notary, that comprises the description of the property as well as all the sales conditions. This document van be consulted by all potential buyers, at the notary's office.

The notary announces the auction date by means of posters and advertisements published in newspapers.

The offers, or bids are registered during the auction, possibly starting from a certain asking price. If the last offer is accepted, the notary moves on to the adjudication. The buyer has a certain amount of time to pay the price and the fees.Certain sales are only legal after 15 days have passed, during which any potential buyer can submit a counter offer.

Precautions are taken in case of potential buyers who make rash offers that they will not be able to keep to.