It should be noted that to participate in this type of auction, it is essential to visit the property and not just assess the price issue, in order to assess as many indicators as possible: location, year of construction, environment and context of the area.
Auction houses do not charge any commission, so the price of the premium corresponds to the amount paid to the seller. However, it should be considered that the value of the property will have to pay the Notary Purchase and Registration Tax (IMT), which is not stipulated as such in the auction.
From the foregoing, there is no doubt that real estate offers through auctions can be a great alternative, but the prior budget must be concretely established and not only the value of the offer should be considered, but also what this implies when purchasing a well of these characteristics. It should be noted that, for prevention, a certain resource should be considered for the conditioning or improvement of the property, since the property valued at auction (in this case houses, land or facilities) are sold in the conditions in which they are found.