{"id":954,"date":"2024-04-23T07:51:15","date_gmt":"2024-04-23T07:51:15","guid":{"rendered":"https:\/\/notarishelmeyer.com\/?page_id=954"},"modified":"2024-09-19T15:36:45","modified_gmt":"2024-09-19T15:36:45","slug":"general-information","status":"publish","type":"page","link":"https:\/\/notarishelmeyer.com\/index.php\/general-information\/","title":{"rendered":"General information"},"content":{"rendered":"<div>\n<p style=\"font-weight: 400;\"><strong>Auction<\/strong> is another term for \u201cpublic sale\u201d. The location and time are predetermined, as well as the conditions applicable to the sale\/purchase. Only the price is yet to be determined. There are two types of auctions: foreclosure auctions and voluntary auctions.<strong><\/strong><\/p>\n<\/div>\n<h1><strong>Foreclosure Auction<\/strong><\/h1>\n<div>\n<p style=\"font-weight: 400;\">A foreclosure auction, also known as an &#8216;involuntary public sale,&#8217; is the legally required method for liquidating a debtor&#8217;s assets to satisfy a creditor&#8217;s outstanding claim. In a foreclosure auction, bidding is conducted on behalf of a creditor. If someone fails to pay their debts, the creditor has the right to enforce their claim against the debtor\u2019s assets. This requires the creditor to have an enforceable title, which may be a court judgment or a notarial deed proving the payment obligation. For example, a mortgage lender can initiate a foreclosure auction. The lender has the authority to sell the mortgaged property without a court order, provided the debtor is in default. If the debtor meets their obligations (i.e., pays interest and principal on time), the lender cannot proceed with the sale. An enforceable title (e.g. issued by a bailiff), can also be utilized by a creditor who has seized the debtor&#8217;s property and wishes to initiate a foreclosure auction.<strong><\/strong><\/p>\n<\/div>\n<h2><strong>Voluntary Auction<\/strong><\/h2>\n<div>\n<p style=\"font-weight: 400;\">A voluntary auction takes place when the private sale of a property is expected to not find a buyer quickly, or when a higher return is anticipated from a public sale (auction). Generally, the sales method in a voluntary auction is similar to that of a foreclosure auction. The \u201cSpecial Auction Conditions\u201d specify whether it is a foreclosure or voluntary auction. In voluntary auctions, the \u201cSpecial Auction Conditions\u201d often declare that the terms established in the \u201cGeneral Conditions for Foreclosure Auctions\u201d are to be applied.<\/p>\n<\/div>\n<h3><strong>The Notary<\/strong><\/h3>\n<div>\n<p style=\"font-weight: 400;\">The notary plays a central role in organizing and executing the auction. The notary&#8217;s duties and authority are described in our general auction conditions. The notary announces the auction and the auction conditions and informs potential bidders with comprehensive information regarding the taxes, costs, and burdens for which the prospective buyer is responsible before the bidding begins. The notary\u2019s judgment and discretion largely determine the auction proceedings and provide further elaborate on the interpretation or application of the auction conditions.<strong><\/strong><\/p>\n<\/div>\n<h4><strong>Auction Conditions and Object Information<\/strong><\/h4>\n<div>\n<p>The purchase of a property through an auction takes place under certain conditions, known as &#8216;auction conditions.&#8217; These conditions outline the agreements between the seller and prospective buyer once the purchase agreement is established through the auction. This includes matters such as:<\/p>\n<ul>\n<li>&#8211; Cost-sharing between seller and buyer;<\/li>\n<li>&#8211; When the risk of an object transfers to the buyer;<\/li>\n<li>&#8211; Payment deadlines; and<\/li>\n<li>&#8211; The transfer of ownership.<\/li>\n<\/ul>\n<p>The auction conditions are divided into \u201cGeneral Auction Conditions\u201d, and \u201cSpecial Auction Conditions\u201d. General conditions are outlined in the \u201cGeneral Auction Conditions\u201d, while conditions specific to a particular object are included in the \u201cSpecial Auction Conditions.\u201d<\/p>\n<p style=\"font-weight: 400;\">It is essential that you inform in advance about the applicable auction conditions and regularly check our website for updated a costs and properties information in the lead-up to the auction.<\/p>\n<\/div>\n<h5><strong>Auction Requirements<\/strong><\/h5>\n<div>\n<p style=\"font-weight: 400;\">Interested in attending our next auction?<\/p>\n<p style=\"font-weight: 400;\">The following documents are required for bidding during the auction:<\/p>\n<ul>\n<li>&#8211; Identification document, such as a passport, driver&#8217;s license, or identity card;<\/li>\n<li>&#8211; Bank guarantee (a letter from your bank stating that the required funds are currently in your account or that you qualify for a mortgage\/financing).<\/li>\n<\/ul>\n<p style=\"font-weight: 400;\">For more information about our (upcoming) auctions, you can contact us at auction@notarishelmeyer.com.<\/p>\n<\/div>\n<p><!--more--><br \/>\n<!-- {\"type\":\"layout\",\"children\":[{\"type\":\"section\",\"props\":{\"image_position\":\"center-center\",\"padding\":\"small\",\"style\":\"muted\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"middle\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"font-weight: 400;\\\"><strong>Auction<\\\/strong> is another term for \\u201cpublic sale\\u201d. The location and time are predetermined, as well as the conditions applicable to the sale\\\/purchase. Only the price is yet to be determined. There are two types of auctions: foreclosure auctions and voluntary auctions.<strong><\\\/strong><\\\/p>\",\"dropcap\":true,\"margin\":\"default\",\"text_color\":\"primary\"}}]}]}]},{\"type\":\"section\",\"props\":{\"image_position\":\"center-center\",\"padding\":\"small\",\"style\":\"default\",\"title_breakpoint\":\"xl\",\"title_position\":\"top-left\",\"title_rotation\":\"left\",\"vertical_align\":\"middle\",\"width\":\"default\"},\"children\":[{\"type\":\"row\",\"children\":[{\"type\":\"column\",\"props\":{\"image_position\":\"center-center\",\"position_sticky_breakpoint\":\"m\"},\"children\":[{\"type\":\"headline\",\"props\":{\"content\":\"<strong>Foreclosure Auction<\\\/strong>\",\"title_element\":\"h1\",\"title_style\":\"h4\"}},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"font-weight: 400;\\\">A foreclosure auction, also known as an 'involuntary public sale,' is the legally required method for liquidating a debtor's assets to satisfy a creditor's outstanding claim. In a foreclosure auction, bidding is conducted on behalf of a creditor. If someone fails to pay their debts, the creditor has the right to enforce their claim against the debtor\\u2019s assets. This requires the creditor to have an enforceable title, which may be a court judgment or a notarial deed proving the payment obligation. For example, a mortgage lender can initiate a foreclosure auction. The lender has the authority to sell the mortgaged property without a court order, provided the debtor is in default. If the debtor meets their obligations (i.e., pays interest and principal on time), the lender cannot proceed with the sale. An enforceable title (e.g. issued by a bailiff), can also be utilized by a creditor who has seized the debtor's property and wishes to initiate a foreclosure auction.<strong><\\\/strong><\\\/p>\",\"margin\":\"default\"},\"name\":\"Text Foreclosure Auction\"},{\"type\":\"headline\",\"props\":{\"content\":\"<strong>Voluntary Auction<\\\/strong>\",\"title_element\":\"h2\",\"title_style\":\"h4\"}},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"font-weight: 400;\\\">A voluntary auction takes place when the private sale of a property is expected to not find a buyer quickly, or when a higher return is anticipated from a public sale (auction). Generally, the sales method in a voluntary auction is similar to that of a foreclosure auction. The \\u201cSpecial Auction Conditions\\u201d specify whether it is a foreclosure or voluntary auction. In voluntary auctions, the \\u201cSpecial Auction Conditions\\u201d often declare that the terms established in the \\u201cGeneral Conditions for Foreclosure Auctions\\u201d are to be applied.<\\\/p>\",\"margin\":\"default\"},\"name\":\"Text Voluntary Auction\"},{\"type\":\"headline\",\"props\":{\"content\":\"<strong>The Notary<\\\/strong>\",\"title_element\":\"h3\",\"title_style\":\"h4\"}},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"font-weight: 400;\\\">The notary plays a central role in organizing and executing the auction. The notary's duties and authority are described in our general auction conditions. The notary announces the auction and the auction conditions and informs potential bidders with comprehensive information regarding the taxes, costs, and burdens for which the prospective buyer is responsible before the bidding begins. The notary\\u2019s judgment and discretion largely determine the auction proceedings and provide further elaborate on the interpretation or application of the auction conditions.<strong><\\\/strong><\\\/p>\",\"margin\":\"default\"},\"name\":\"Text The Notary\"},{\"type\":\"headline\",\"props\":{\"content\":\"<strong>Auction Conditions and Object Information<\\\/strong>\",\"title_element\":\"h4\",\"title_style\":\"h4\"}},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p>The purchase of a property through an auction takes place under certain conditions, known as 'auction conditions.' These conditions outline the agreements between the seller and prospective buyer once the purchase agreement is established through the auction. This includes matters such as:<\\\/p>\\n\n\n<ul>\\n\n\n<li>- Cost-sharing between seller and buyer;<\\\/li>\\n\n\n<li>- When the risk of an object transfers to the buyer;<\\\/li>\\n\n\n<li>- Payment deadlines; and<\\\/li>\\n\n\n<li>- The transfer of ownership.<\\\/li>\\n<\\\/ul>\\n\n\n<p>The auction conditions are divided into \\u201cGeneral Auction Conditions\\u201d, and \\u201cSpecial Auction Conditions\\u201d. General conditions are outlined in the \\u201cGeneral Auction Conditions\\u201d, while conditions specific to a particular object are included in the \\u201cSpecial Auction Conditions.\\u201d<\\\/p>\\n\n\n<p style=\\\"font-weight: 400;\\\">It is essential that you inform in advance about the applicable auction conditions and regularly check our website for updated a costs and properties information in the lead-up to the auction.<\\\/p>\",\"margin\":\"default\"},\"name\":\"Text Auction Conditions and Object Information\"},{\"type\":\"headline\",\"props\":{\"content\":\"<strong>Auction Requirements<\\\/strong>\",\"title_element\":\"h5\",\"title_style\":\"h4\"}},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\n\n<p style=\\\"font-weight: 400;\\\">Interested in attending our next auction?<\\\/p>\\n\n\n<p style=\\\"font-weight: 400;\\\">The following documents are required for bidding during the auction:<\\\/p>\\n\n\n<ul>\\n\n\n<li>- Identification document, such as a passport, driver's license, or identity card;<\\\/li>\\n\n\n<li>- Bank guarantee (a letter from your bank stating that the required funds are currently in your account or that you qualify for a mortgage\\\/financing).<\\\/li>\\n<\\\/ul>\\n\n\n<p style=\\\"font-weight: 400;\\\">For more information about our (upcoming) auctions, you can contact us at auction@notarishelmeyer.com.<\\\/p>\",\"margin\":\"default\"},\"name\":\"Text Auction Requirements\"},{\"type\":\"text\",\"props\":{\"column_breakpoint\":\"m\",\"content\":\"\",\"margin\":\"default\"}}]}]}]}],\"version\":\"4.3.7\"} --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Auction is another term for \u201cpublic sale\u201d. The location and time are predetermined, as well as the conditions applicable to the sale\/purchase. Only the price is yet to be determined. There are two types of auctions: foreclosure auctions and voluntary auctions. Foreclosure Auction A foreclosure auction, also known as an &#8216;involuntary public sale,&#8217; is the [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":17,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-954","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>General information - Notaris Helmeyer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/notarishelmeyer.com\/index.php\/general-information\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"General information - Notaris Helmeyer\" \/>\n<meta property=\"og:description\" content=\"Auction is another term for \u201cpublic sale\u201d. 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