Are you interested in buying a property through auction? At RETAMA you have an experienced and valuable partner by your side at all stages. See the process below:
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Frequently Asked Questions
Can I buy several properties together?
Group purchases are not supported by the www.eauction.gr platform. Each auction corresponds to one property. Sometimes all the properties of a residence (main residence, storage, parking) are independent properties and therefore are parts of different auctions. In such a case you must coordinate your actions with the help of our specialized staff. If there is interest in more than one property, you should bid in the respective auctions for them.
Is it possible to visit a property and see its interior before bidding?
Entry into a property is in most cases not possible. This weakness remains and is the biggest risk for a bidder regarding the bid level strategy they wish to submit. The prospective bidder is invited to state contentment with the external assessment of the certified appraisal and the advice of the experienced RETAMA executive.
Who can take part in the auction?
Either legal representatives or physical persons have the right to participate in electronic auctions.
Can I have an advisor by my side?
Of course. An experienced RETAMA consultant will be by your side from the beginning of the process until its completion. RETAMA provides complete solutions so that buying a property at auction is no longer a difficult process for anyone.
Is the process of bidding on a property by auction safe?
An auction is the legal process whereby a debtor's assets (eg a property) are publicly sold off in order to satisfy creditors' claims. The entire process of conducting electronic auctions is undertaken only by certified notaries, who act as Auction Clerks. The process is legal and safe and is carried out through the online platform www.eaucion.gr. The physical presence of the potential bidder is not required, they can participate digitally from wherever they are
What happens to my down payment if the property is not awarded to me?
If the property is awarded to another bidder, or if the auction is canceled for any reason, the notary is responsible for returning the money or letters of guarantee within a few days to the bank accounts from which the deposits were made.
How do I ensure the right to participate in an auction?
In order to secure the right to participate in an electronic auction, it is necessary to pay 30% of the first bid price to an unencumbered account that will be indicated by the notary public conducting the auction. Your deposit must be made no later than 2 working days before the appointed day of the auction and its proof must be posted together with your participation application on the www.eauction.gr platform. Example: If an auction is scheduled to take place on Wednesday 18/05/2022, the application for participation must be made no later than Friday 13/05/2022 at 15.00.
Can I list specific property criteria and be notified of upcoming auctions?
Of course, by clicking the "Inform me" button on the Retama platform, we send you weekly emails about scheduled real estate auctions of interest to you.
What do we mean by “area marketability”?
The marketability of an area is determined by the sale and rental prices of real estate in that area.
I have a VAT number of another country. Can I participate in the auction?
If you have a VAT number of a country other than Greece, you should send the relevant e-auction official the necessary documents required for your identification in order to receive final approval. Then, you can take part in the process after first registering at www.eauction.gr.
When do the online auctions take place?
Online auctions are held every Wednesday, Thursday and Friday from 10.00 am. until 12 p.m. or from 2.00 p.m. until 16.00 pm
What are the necessary supporting documents?
Supporting documents are determined by law and depend on the legal form and country of origin of the prospective bidder.
How can I participate in an online auction?
In order to have the right to participate, you must first register as a member (candidate bidder) at www.eauction.gr
What does the procedure cost?
- Your participation is free. RETAMA's expert staff will provide you with the right guidance and support, and you automatically forget about any hassle of collecting documents and time-consuming procedures.
- In the event that you bid on the auction, our fee is set at 1% of the auction closing price. Don't forget that the 1% rate includes the coordination of all the processes that follow the auction, as well as the fact that we deliver the keys to you!