Auctions - useful links

Executive procedures of Varese Court

In accordance with article 591-b of the Code of Civil Procedure, the enforcement judge, with the ordinance allowing execution of the proposal to sell, in accordance with article 569, subsection 3 of the same Code,  may appoint a notary to carry out the procedures for the sale of the property. The notary, who deals with property transfers on a daily basis, is a professional figure with extensive knowledge of cadastral documentation and property registers, and as such is a formal guarantee of rigour and impartiality in accordance with his position as a public official.

How to take part in the auction 
Offers to buy must be presented at the notary's studio in closed envelopes by 12 o'clock at the latest on the day before the auction is to take place.  
Details of the prospective buyer must not be shown on the outside of the envelope.

The bid, on stamped paper, must contain:

a) application for participation (see attached file) indicating:
- surname, name, place and date of birth, tax identification number, address, marital status and telephone number for the prospective owner of the property (the property cannot be in the name of a person other than the bidder who signs the offer), who must also be present at the hearing for the sale. If the bidder is married under the community of property rules, the spouse's details must also be present. If the bidder is an association, the name or registered name must be indicated, together with the registration number in the Company Register, the business address and the name of the legal representative;

- the identifying data for the property referred to in the bid;

- the price offered (in figures and words), which may not be lower than the reserve price indicated in the notice of sale, on penalty of exclusion;

- the payment terms for the bid and related fees, not more than 60 (sixty) days after adjudication, the method of payment and any other information relevant to the evaluation of the bid;

- express declaration of having seen the estimated valuation.

b) photocopy of the bidder's identity document;

c) a non-transferable banker's draft payable to the appointed Notary for a sum equivalent to 10% (ten percent) of the price offered, to serve as a deposit and retained in the case of refusal to buy. Where the bid refers to more than one lot, in accordance with the aforementioned article, a single deposit may be paid, the sum being determined by the lot of the highest value.