Buying a Property at Auction in Tenerife

Auctions in Tenerife - are a pioneering auction company that allows people selling property to come into direct contact with those looking to buy property in Tenerife. Our new and unique online bidding system allows prospective buyers to view property and bid online for any property on offer. There are no closing dates on the auction and all bids are forwarded onto the vendors for their perusal. All successful bids will be notified immediately.

Situated in Callao Salvaje on Tenerife's south coast, Auctions in Tenerife is a Tenerife company which has been set up by Les Calvert Director of Property-Abroad.com Ltd (UK) and PropertyinTenerife.com one of the largest independent property Portals on the internet with over 50,000 properties featured from over 45 countries.

With over 20 years in the Spanish and overseas property market Les is well placed to offer not only advice on the local property market but also on the wider scale of opportunities across the world. Our aim is to bring Property Auctions in Tenerife out in to the property market arena by holding free and 'open to the public' auctions online. We will feature properties for sale by auction from private sellers, estate agents and any other leading institutions be it Residential or Commercial.

Please feel free to browse around our website and if you feel that you would like to try our services for buying, selling or auctioning your own property then contact us now for a friendly chat.

Whatever your needs are regarding buying, selling or auctioning property in Tenerife, Auctions in Tenerife will be able to assist you and with an Aftersales Service second to none you are sure to enjoy the experience of owning a home abroad. In addition to our Auction Property we also have access to thousands of resale and off-plan properties for sale throughout the island.

Some FAQ's to ponder:-

1. Why buy a property from Auctions in Tenerife?

We only feature properties that represent great value for money in today's market.

We only feature clean titled properties.

We are the only free and transparent Auction House in Tenerife.

We don't charge a buyers fee.

2. What are the advantages of buying property at Auction?

The opportunity to acquire a property at below market valuation.

When the right price is achieved, you know it's yours.

No complicated chains.

Sales are normally completed within 28 days.

A wide choice of properties on which to bid.

Your purchase price is governed by you.

An open and secure method of buying property.

All legal documentation is clean and available.

There are no hidden costs.

There is no hard sell you are in complete control.

3. Who can buy at Auction?

Anyone can buy at our Online Auction. The website is global and anyone can bid from anywhere. All bids are put forward to the owners and once a bid is accepted the sale proceeds from there.

4. How do I bid online for a property?

Bid on your selected property using our Make An Online Bid for this Property link accompanying every property.

You can inspect the property at any time and arrange a valuation if you need one.

Property documents are available for checking in person prior to the sale.

NB: If you are successful you will need to send a €1,000 euro deposit once your bid has been accepted. You will then have a further 14 days in which to make up the remaining 10% deposit of the purchase price

If you are successful then you will be contacted by us to make the necessary arrangements for purchasing a property - we will guide you through the process.

And remember, if you have been unsuccessful then - please try again

Please note that whilst Auctions in Tenerife take every precaution to ensure the property and its details are correct, we can not be held liable for any misleading information given by the property vendor or his agent. Properties are bought via Auction at the buyers risk and the buyer is deemed to have taken legal and professional advice.

5. What is a Guide Starting Price?

A guide starting price is what we expect to start the bidding price from.

6. What is the Reserve Price?

In agreement with the vendor a minimum sale price is set, this is known as the Reserve Price. It has been known that vendors do sometimes lower their reserve price. All reserve prices are in confidence with the vendor.

7. How can I pay for my property?

If you are successful then you will be contacted by us and the buying process will be the same as a normal property purchase in Spain but our team will guide you through the buying process. Purchases can be paid for via a mortgage, loan or cash as you prefer.

8. How do I bid online?

Bidding on line is very simple and straightforward. Search through our auction property and find the property that you would like to bid on. Underneath every property in the auction section is a link to place a bid online "Make An Online Bid for this Property" simply click on this link and complete your details. NB: Your bid will need to be higher than any previous online bid if shown. We will then pass your bid onto the vendor and inform you of their decision. If the vendor accepts your bid we will need your deposit and we can then begin the purchasing process.

9. Can I view the Properties for Auction?

Yes, simply contact us to arrange a suitable viewing date and time.

10. Do you arrange inspection tours?

We do not arrange inspection tours but we can arrange for viewings and assistance with finding flights and accommodation locally.

11. How long before I complete the sale?

The sale process can normally completed within 1-2 months but in extreme cases this can be extended.

12. What are the costs of buying at Auction?

Other than your normal legal costs - which your lawyer will advise you of there are no further costs involved. Auctions in Tenerife do not charge any fees to the buyer and entrance to the auction is free of charge.

Article Source: http://www.articlesbase.com/ask-an-expert-articles/ buying-a-property-at-auction-in-tenerife-105877.html

Property Abroad's directory Les Calvert writes interesting and useful articles on all subjects dealing with overseas investment property and buying property in Tenerife. Visit their website to view their auction property for sale in Tenerife and other useful information on buying abroad.