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Briefings and Regulations
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RISE
OF THE SIXTH
In the ten days following the provisional adjudication, anyone can make a bid of purchase that must overcome at least one sixth of the value reached in the auction.
Such bid is irrevocable if it is not passed a fixed term. This stops the preceding adjudication and it imposes to the Judge the necessity to fix a new auction. The new notice of auction "in degree of sixth" proposes the sale of the immovable property with starting price obtained by the amount of the value of adjudication increased of one sixth, and the Judge will invite the further possible people interested to buy it to make better bids in comparison to the price as above determined.
In case of plurality of bidders
the Judge will determine in hearing the value of the raisings and will definitely award the immovable property to the person who has made the higher bid. The bid of the rising of one sixth must be accompanied by a deposit in the percentage decided by the Appointed Judge as anticipated from the ruling of sale.
Remember that if the final purchaser doesn't pay the price in the days decided by the Judge in the ruling of sale, he will be declared debarred and he will not take back the deposit. There will be the “sale in damage” and if from this auction they will obtain an amount of money that, together with the deposit seized, is inferior to the amount obtained in the preceding sale, the purchaser in default will be also sentenced to pay the difference between the price realized in the sale in damage and that of the first auction.
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Asteitalia, leader in the field of the Judicial Auctions, can help you to have all the services and necessary advice, having qualified professionals that can assure you professionalism, transparency and maximum reserve.
Moreover, Asteitalia has done agreements with the best banking institutions, and has a portfolio clients for investments on immovable properties; for this reason Asteitalia is able to sell any immovable property with mortgage or foreclosure, extinguishing the procedure, with cash payment.
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