Frequently Asked Questions
Before the auction
- Does Kaaja handle judicial auctions?
No, Kaaja only deals with properties free of encumbrances/judicial proceedings. To ensure a transparent and secure sale, we provide all the documentation in our possession on the property - from the historical cadastral certificate to the town planning certificate, from the energy certificate to the mortgage certificate, and we make all offers visible (anonymously) on the property.
- When can I visit the property?
Once online, the property can be visited anytime : in person or online. On each page of a property, a visit can be booked through the agent's online calendar. In certain cases, there will also be open days for new buildings.
- How can I check the property documents ?
All property documents are available to all registered users online, on the property page. Any sensitive data in these documents are anonymised.
- How can I request information on a property?
Our real estate agents are at your complete disposal for any information: you can get in touch with them by submitting the request form on the property page.
- How can I sell my property on auction?
Contact us on +39 02 9475 7941 or write to us, and we will send you all the information you need to sell your property. If you wish, we can take care of making sure that all the documentation is in order (updated cadastral certificate, town planning certificate, deed of origin, energy performance certificate, etc.).
- How much does it cost to sell my property?
The cost consists of a publication fee and a sales commission as a percentage of the transaction amount. The standard publication fee of €300 includes the collection of all documentation from the seller, and the verification and appraisal of the property by our agents. If any document is not available or the property is not up to standard, our agents will be able to help you remedy the situation at a cost to be agreed. This phase is necessary because only compliant properties can be auctioned. Users participating in the auction must not find any nasty surprises at the time of the purchase proposal or at the act of sale. Contact us on +39 02 9475 7941 or write to us, and we will send you all the information you need to sell your property.
During the auction
- How can I join the auctions?
Simply click on the "Place bid" button present from the moment the auction starts on the page of the property you are interested in. You will be asked to sign up and add a credit card to guarantee the offer. Kaaja will withhold the deposit on the credit card, which will only be charged if the bidder wins the auction.
- Why should I pay a deposit to place an offer?
To guarantee the offer placed. The amount requested is clearly indicated for each property. In case of a bid during an auction, the amount will only actually be charged to the highest bidder, at the end of the auction. The amount held on the card will be released for all the others at the end of the auction upon acceptance of the proposal between the parties. In case of a Buy Now offer, the amount will be directly charged only in case of credit card usage. For this type of offer, SEPA transfers are accepted as payment option
- Will the amount held to participate in the auction be returned?
The amount withheld against the card limit (which is not charged) is released within 7 days from the conclusion of the auction for all participants who have not won it. If the user wins the auction, the amount will be charged to the card and discounted from the confirmation deposit of the purchase proposal.
- What is the auction starting bid?
The auction starting bid is the price from which the auction starts and which is increased by the bids of the participants. The minimum bid raise is defined on the basis of the property and is clearly indicated on the property page when the auction has started.
- What is the reserve price?
The reserve price is the minimum amount at which the seller undertakes to sell the property: this amount is not visible on the property page. At the end of the auction, if the highest bid has not reached this amount, the seller can accept it or not.
- What happens if I place a bid right before the auction ends?
The auction is extended by 5 minutes to allow other users to participate. We do not recommend waiting until the last minute if you want to get the property at the best price.
- Can I withdraw/cancel a bid made during the auction?
No, it is not possible to withdraw or cancel the offer during the auction. The offer is binding up to 7 days after the end of the auction.
- Can I bid in more than one auction at the same time?
Yes, absolutely. You can bid on multiple properties at the same time, simply by authorising a deposit for each auction in which you intend to participate.
- What happens if the reserve price is not met?
In this case, the seller has the right to accept or reject the best offer.
- How long does an auction last?
The duration of an auction goes from 1 to 3 weeks. In any case, it is possible to view or inspect the property, also in person, from the moment the property is published.
At the end of the auction
- How is the property awarded?
The property is awarded to the highest bidder. Once the auction has been awarded, the seller and the buyer sign the purchase proposal and the buyer pays the confirmatory deposit.
- What happens after winning the auction ?
The deposit amount withheld for joining the auction is charged. The winner will be asked for personal details to compile the purchase proposal which, once completed, is sent to be digitally signed along with a copy of the confirmatory deposit bank transfer. The process must be completed within 5 days of the purchase proposal reception, under penalty of loss of the property.
- What happens for those who did not win the auction?
The deposit amount is released within 7 days from the end of the auction.
- How much is the confirmatory deposit to be paid if I win the auction?
The confirmatory deposit is 10% with a minimum of €5,000 to be paid within 5 days of the auction closing and at the same time as the formulation of the purchase proposal, under penalty of loss of the property.
- Can I bind the purchase proposal on obtaining a mortgage?
This is only possible by providing a pre-approval letter of the mortgage within 5 days of the auction closing. For this, we recommend that you check that you have obtained a mortgage for the amount you intend to spend as soon as possible. At an early stage, it is advisable to ask the bank for a pre-approval of the mortgage, stating the amount they are willing to finance. If you don't know how to do it, write to us, and we will help you.
- How much does it cost to buy a property with Kaaja?
All costs are clearly indicated in each published property for sale. There are no other costs.
- When is the deed executed?
Once the purchase proposal is signed by both parties and the confirmatory deposit paid, the buyer can request that all the documentation of the property be sent by email to his/her appointed notary or to a Kaaja partner notary. We make sure that this takes place within 72 hours of the request, so that the parties can set a date for signing the deed.
- What happens when the auction ends on the seller side?
When the seller receives the purchase proposal, he/she shall assess it if the reserve price has not been reached, otherwise he/she must accept and sign it digitally .