Discover Properties below Market value

Local Auction is the leading online platform for foreclosure auctions in Austria. We provide a comprehensive overview of all upcoming judicial real estate auctions. With Local Auction, you can search specifically for properties, get information about auction dates, and view all relevant documents such as the valuation report or the auction decree.

The process is legally regulated (§§ 140 ff. EO) and includes the following steps:

1. Enforcement approval: The creditor files an application for foreclosure at the district court.
2. Property valuation: A court-appointed expert determines the market value.
3. Auction decree: The auction is announced at least four weeks in advance via the official edict portal.
4. The auction session: The auction takes place in court. Bidders submit their bids.
5. Award: The highest bidder is awarded the property, provided the statutory minimum bid (usually 50% of the market value) is reached.
6. Ownership transfer: After full payment of the bid amount and completion of the court distribution procedure, the property is entered into the land register.

Any legally competent person may bid. You need:

• a valid official photo ID,
• a savings book (registered in your name) with a balance of 10% of the market value as a deposit (security).

• Check the documents: Carefully study the valuation report and the auction decree.
• Visit the property: Get an impression of the property's condition.
• Secure financing: Clarify with your bank in advance how the bid amount will be financed.
• Prepare the deposit: Have a suitable savings book issued with at least 10% of the market value.
• Set a strategy: Define your maximum bid and stick to it – the award is legally binding.