Local Auction is the online platform for foreclosure auctions in Austria. We offer a comprehensive overview of all upcoming auctions. With Local Auction, you can search for properties, stay informed about auction dates, and view all relevant documents.

Searching for foreclosures can often be time-consuming and tedious, as properties are spread across various websites. We aim to make the search as easy as possible. With access to Local Auction, you benefit from the following advantages:

• See exactly what you want: Customize the filters to display only the properties that matter to you, ensuring you don't miss any events or new listings.
• All documents at a glance: Direct links to appraisals, information, and pictures of the property.
• Never miss a date: All relevant dates for each auction property are clearly displayed so that you don't miss any important deadlines.
• Simplified search: Optimized for smartphones with a high-quality map for property search.
• Easy management: Save favorites, share links to documents with friends, and more.

No, you don't need to sign a long-term contract! You have the option to choose a flexible monthly subscription and try our service without commitment. The subscription can be canceled monthly. If you like our service, you can switch to an annual subscription at any time, depending on your individual needs.

You can easily cancel your subscription online: log in to Local Auction and go to your profile.

In a foreclosure auction, a property (house, apartment, or land) is publicly auctioned by the district court because the owner can no longer meet their payment obligations. Buyers can acquire properties at potentially attractive prices, often below market value.

If an owner fails to meet financial obligations, such as loan payments, over a prolonged period, the creditor may apply for foreclosure at the district court. The court then initiates the procedure.

The process is governed by the Enforcement Code (EO) and includes the following steps:

1. Application for enforcement: The creditor files for foreclosure at the district court.
2. Valuation: A court-appointed expert determines the market value.
3. Publication: The auction is announced at least four weeks in advance on the edict portal.
4. Auction (hearing date): The auction takes place at the competent court. Bidders must present a savings book (deposit) covering 10% of the valuation.
5. Award: The highest bidder is awarded the property if the statutory minimum bid is met.
6. Ownership transfer: Once the bid is paid in full, the property is entered in the land register.

To avoid a foreclosure auction, act early:

• Contact the creditor: Negotiate payment plans, deferrals, or refinancing.
• Legal advice: Consult a lawyer or debt counseling service.
• Sell the property: A voluntary sale may yield better results than a forced auction.
• Government support: In hardship cases, subsidies or support programs may be available.

Any legally competent person can participate in a foreclosure auction in Austria. Required: an official photo ID and a savings book (registered) as a deposit covering 10% of the market value.

The deposit must be presented as a registered savings book at the auction. Cash, transfers, or bank guarantees are generally not accepted. Participation is not possible without a valid savings book.

Yes, personal attendance is usually required. Alternatively, a representative with a notarized power of attorney may participate. Written bids are not accepted in court-ordered auctions in Austria.

The auction is held at the competent district court. Date, time, and location are announced in the auction edict and published on Local Auction.

Yes, auction dates can be postponed or canceled. Check regularly on Local Auction for updates.

The owner can stop the foreclosure by settling all outstanding claims before the award is granted. The proceeds are used by the court to pay the debts. Any surplus after deduction of all claims and court costs is paid to the debtor.

• Review documents: Read the valuation report, auction edict, and list of encumbrances.
• Inspection: Try to assess the property's condition — interior visits are often not possible.
• Secure financing: Confirm with your bank whether financing is possible and under what conditions.
• Set a max bid: Define a realistic budget and avoid impulsive bidding.
• Gain experience: Attend other auctions to better understand the process.

Additional costs may include:

• Court fees per the auction edict
• Land register entry fee
• Property transfer tax (3.5% of purchase price)
• Notary costs
• Possible compensation for existing encumbrances
• Operating costs from time of award

Foreclosure auctions can offer properties below market value, but this is not guaranteed. In high-demand areas, bids can exceed market value. Particularly attractive: low-demand or renovation-heavy properties.

Foreclosure auction: Court-ordered process to collect debt via public auction.
Bidding process: Voluntary sales process with open or sealed bids, usually run by brokers or property owners.

You become the legal owner only after full payment of the bid amount and completion of the distribution process. Legal ownership transfers with the land register entry.

Viewing is only possible if explicitly allowed by the court and facilitated by the owner or administrator. Availability is indicated in the auction edict or on Local Auction.

On Local Auction, you’ll find all publicly available documents like the valuation report, auction edict, land register extracts, and possibly encumbrance listings — all useful for decision-making.

The report includes market value, building condition, features, location, legal status (e.g., existing tenancy), and encumbrances. It serves as a reference for the court and bidders.

In 2024, a total of 1,047 foreclosure auctions took place in Austria. Most were held in September and November, while April and July had significantly fewer dates.

Yes, there are notable regional differences. Most auctions occurred in Lower Austria, Vienna, and Styria. Lower Austria had the highest count with 276 auctions.

In 2024, around two-thirds of foreclosure auctions were for residential properties. Villas were the most expensive, followed by mixed-use buildings.

The total auction volume in Austria for 2024 was around €274 million, representing a decline of approximately 10.75% compared to the previous year.

The auction conditions (included in the auction edict) explain payment terms, deposit, process, existing encumbrances, tenancy agreements, and deadlines for payment and land register entry. This info is available on Local Auction.

In Austria, foreclosures of real estate follow the Enforcement Code (EO). It is a legal process where properties are publicly auctioned to satisfy a creditor, based on an enforceable title such as a judgment or debt recognition.

Creditors, especially banks, sometimes bid themselves to prevent the property from selling below market value. This is called safeguarding via own bidding.

A double call (§ 146 EO) is used when encumbrances exist:

1. First call: Auction with encumbrances taken over.
2. Second call: Auction without those encumbrances (they are deleted).
   The more favorable outcome is considered to maximize creditor satisfaction.

For procedural questions, contact the responsible district court. For legal, technical, or financial issues, consult a lawyer, notary, or construction expert. Local Auction also provides information for each property.

• Be patient: Finding the right property takes time.
• Sort out financing early: Secure funding in advance.
• Set a realistic max bid: Stick to your limit.
• Get legal advice: Seek professional support if unsure.
• Observe procedures: Attend other auctions to learn the process.

• Be patient: Foreclosures often require time and perseverance.
• Stick to your budget: Set your maximum bid and do not exceed it.
• Legal advice: Consult a lawyer if you have any uncertainties.
• Gain experience: Attend several auction events to become familiar with the process.

Generally yes. However, property acquisition by foreigners is subject to the Land Transfer Act of each federal state. Restrictions may apply for agricultural land, secondary residences, or vacation homes. Check with local authorities or legal counsel in advance.

• Secure financing confirmation: Banks usually only finance auctioned properties with a valid financing commitment.
• Prepare deposit as a savings book: Participation requires a valid deposit (10% of market value).
• Mind the deadlines: The bid amount must usually be paid within 4 to 8 weeks — check the auction edict.
• Calculate extra costs: Consider land transfer tax, court fees, and encumbrances.

All court-ordered property auctions in Austria are available on Local Auction with practical search and filter features.

Yes, once the bid is fully paid and the property is entered into the land register, you are the legal owner and free to rent or use it. Note that existing leases may remain in effect.