Conduct of Auction

Acquisition of Real Estate in Germany - Especially at our Auctions -

In principle, there are no restrictions for foreign nationals on the purchase of real estate in the Federal Republic of Germany.

For the purchase to be legally binding, the winning bidder will have to sign a Notarial Real Estate Purchase Agreement which will be prepared after bid acceptance.
Costs relating to purchases are approximately as indicated below; the basis of calculation is the purchase price/gavel price at the auction:

Tax on the acquisition of real estate (transfer tax)	| 3.5%, for real estate in Berlin 4.5%
Notary´s/Court Fees	| by request
Auction commisssion for real estate in excess of € 60,000.00	| 6% plus VAT

All convertible currencies are accepted as payment in cash by the Auction House (at daily exchange rates); bank cheques from EU member countries are accepted by the Auction House as well.

After bid acceptance, the commission and a bidding security (20%) of the accepted bid price have to be paid at auction either in cash or by bank cheque. In principle, the purchase price balance has to be deposited within 4 to 6 weeks afterwards.

If foreign nationals want to bid over the telephone, they will have to enter into a Telephone Bidding Agreement and also make an appropriate security deposit - to be fixed by the employee in charge at our House - which will have to be paid into the trust account of the Auction House prior to the auction.

If a bidder is not successful with his/her bid, his/her deposit will be returned to him/her telegraphically on the first workday after the auction.

All documents of relevance to real estate acquisition such as the Auction Conditions (PDF 70 kB), the draft of the purchase agreement to be concluded and notarised, the telephone bidding agreement and the exact description of the object put up for auction are available upon request and will be supmitted by mail, fax or email.

For more details about the auction procedure, please contact:
Ms Oberländer and/or Mr Wohlers

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