Selling property cheap!

Author
Discussion

Saleen836

Original Poster:

11,061 posts

208 months

Tuesday 27th October 2020
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As title, was reading a news story about a Sicilian town selling off property at auction with starting bids of 1 euro...
https://www.dailymail.co.uk/news/article-8883347/B...

Do things like this actually work or is it just investors that take a gamble and buy up,renovate then sell after a few years?

Troubleatmill

10,210 posts

158 months

Wednesday 28th October 2020
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Some countries it means that you inherit the property tax debt of all the previous occupants.
(eg France IIRC )

If you do not understand what you are bidding on. Walk away

rodericb

6,660 posts

125 months

Wednesday 28th October 2020
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There are often conditions of sale that a certain amount of work has to be done or invested into the property. They don't want people to merely buy them for speculation and let them continue to fall into disrepair and not bring economic activity to the village.