How to read the auction terms correctly
The auction terms (Steigerungsbedingungen) set out the conditions under which a property is auctioned – down payment, payment deadlines, encumbrances taken over and the date of transfer. They are the binding rules of the auction and should be fully understood before every bid.
What are the auction terms?
They are the document made available by the debt enforcement or bankruptcy office that governs all legal and financial conditions of the auction. By placing a bid, you accept these terms.
The key points
- Down payment: amount and means of payment due immediately after the knock-down.
- Payment deadline: by when the remaining purchase price must be paid.
- Schedule of encumbrances: which mortgages and other charges are taken over.
- Date of transfer: from when benefits and risks pass to the buyer.
- Special conditions: e.g. existing tenancies or requirements.
What to pay particular attention to
Pay attention to the encumbrances you take over and to the payment deadlines – they determine the effective purchase price and your liquidity needs. If in doubt, it is worth having the documents reviewed by an expert before the day of the auction.
Frequently asked questions
Where can I get the auction terms?
They are made available for public inspection by the competent debt enforcement or bankruptcy office and can be viewed there. On AuctionPlace we link to the original official publication; members can also request documents.
See current property auctions all over Switzerland – prepared every day from official publications.
View auctionsNote: This article provides general information and does not replace legal, tax or financial advice. The official publications and the auction terms of the competent debt enforcement or bankruptcy office are decisive.