Foreclosure auction: dream property on the lake for bargain hunting!

Foreclosure auction: dream property on the lake for bargain hunting!

In Seehausen am Staffelsee, a lakeside property will be offered for foreclosure on Thursday, July 24th, 2025. This third date is a continuation after two previous attempts in 2024 were discontinued. The market value of the property is 390,000 euros and it covers around 2000 square meters, located between Seehausen and the picturesque Rieden Castle. There is a bathing hut and a toilet block on the site, but without official permits, which requires potential buyers to take some considerations.

The property is undeveloped and is located outdoors. The surrounding area is predominantly used for agriculture. The property can be reached via a gravel dirt road from state road 2372, with the “Schloß” bus stop within walking distance. However, interested parties should note that the property has a slope of around 15 meters towards the lake, which could complicate development. In addition, an appraisal mentions a possible right of shared use of a footbridge on a neighboring parcel, but there are no corresponding documents in the land register.

A look at foreclosures

But what is behind the foreclosure? This form of property sale allows those interested to potentially get a bargain. How on immobilienwert-lindner.de As reported, this is an enforcement procedure that is initiated when property owners get into financial distress due to circumstances such as unemployment, illness or separation. Creditors, mostly banks, submit an application for compulsory enforcement to the responsible court, which then forms the basis for the auction.

The information disclosed, including market value and minimum bid, is of great importance. An independent market value report is prepared that takes into account the location, size and condition of the property. What is interesting here is that the contract may not be awarded at the first auction if less than 50% of the market value is bid. If there is no interest, a new auction date could be necessary, which is not entirely ruled out for the lake property in Seehausen, as the judge has already informed.

Expectations for Tuesday

The question of whether there is interest in the property at the third auction date is currently still open. The previous history and unclear contract terms may make some potential buyers hesitant. So there is definitely something in the air. If you were to be hired again, a new application for foreclosure would be necessary, which could prolong the entire process. A look at foreclosure auctions in general shows that even if the auction is unsuccessful, a new date can be found quickly.

The lake property could therefore continue to be an exciting property for investors and nature lovers - perhaps with a good hand, one or the other could make an extremely affordable purchase here. Anyone interested in the property should inform themselves in good time in order to make an appropriate bid during the bidding period.