Auctions - How it works

Process steps:

1st: Select the property of your interest

Visit the auctions section of our website and select one or more properties that interest you.

2nd: Locate the auction in cooperation with Orizory

Contact the Orizory team to help you with the process of locating the auction you are interested in on the official online auction platform

3rd: Obtain information about the property

Orizory’s specialized team can advise you further on the properties of your interest.

4th: Budget the total cost

Before you decide to participate in the auction, consult us about the cost budget of acquiring the property, including all transfer costs.

5th: Conduction of the Auction / Auction Process

Through the online auction service (e-auction) you can participate in online auctions without being physically present, only by using your computer.

The process of managing and conducting online auctions is carried out by certified Auction Executives/ Officers.

Online auctions are being conducted only on a Wednesday, Thursday, or Friday, from 10 a.m. to 12 and from 2 p.m. to 4 p.m.

6ο: Auction award and following actions

In case you are not the highest bidder, you can obtain information on the refund procedure of the participation deposit paid by you, from the Auction Clerk.

As the highest bidder you are obliged to pay the Real Estate Transfer Tax to the competent Tax Office where the property belongs within 5 days from the auction date.

As the highest bidder, you are required to pay the balance of the auction price minus the amount of the Participation Guarantee within ten (10) working days from the auction date.

With the ownership title, prepared by the Auction Clerk (notary), the bidder may proceed to the transcription of the property at the competent registry/mortgage office.

Click here to read the bidder's manual in detail.

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