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Notaries' auctions

The official Châtelet' Chamber
property auction site

How to buy ?

When can you place an overbid ?

You can place an overbid during the ten days which follow the sale.

  • The awards are, for the most part, subjected to an overbid clause. In this case, the property is provisionally awarded, under the suspensive condition of there not being an overbid. The option to overbid is entered in the specifications of the sale. The deadline for placing an overbid runs over ten calendar days following the date of the auction.

  • During these ten days, anyone can place a bid that is higher by at least ten percent, that is to make an offer that is 10% greater than the auctioned amount. The amount of the deposit cheque that the over-bidder must lodge generally represents 30% of the new opening bid.
    In this case, a new and final auction is organised. The new opening bid is equal to the first auction price increased by at least 10%. From the lodging of the overbid, the notary in charge of the sale informs the person who was declared the winning bidder during the first auction and returns his deposit cheque to him.

  • When there is no overbid, the winning bidder is retroactively considered as having had definitive ownership of the building as soon as the award was pronounced.

    Important to note
  • An overbidding deadline runs over ten calendar days from the auction date.
  • In the event of an overbid, a new and final auction is organised based on the new opening bid.

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