I’ve been to several foreclosures in Berlin and I’ve learned six things.
The myth still persists that you can buy a property cheaply at foreclosure auctions.
You can read whether that’s true, what experiences I’ve had and what you should definitely know before a foreclosure auction.
foreclosures are associated with a certain drama. Whenever I’m at one, it reminds me of some kind of theatrical performance. Usually several dozen people meet in a district court, a judge conducts the hearing. But the auction is usually less sober than one would expect for a German one Focused introduces.
Bids are called into the room, the mood is heated and there can always be discussions between those present. And after about thirty minutes it’s all over and the room empties as quickly as it fills.