A good way to buy real estate on competitive prices are auctions, not to be mixed with foreclosures. Reserve and hammer price are often quite close. So stay tuned, the next quarterly auction of Germanies biggest property auction house Deutsche GrundstÃ¼cksauktionen AG will take place from 9th to 13th December 2010 in Berlin. The closing date for the admission of properties was 22nd October 2010.
Order the free catalogue here.
Auctions can be quite tricky, and sometimes its better to issue a written offer right after the catalogue is issued, to be first in line while no bids or at least no higher bids than the reserve price are made, sometimes its better to wait and get the property “after the auction”.
Most properties offered need major works, but sometimes you can find a solid income producing block.
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