e-auction PPCo 2020-1, 17 New e-auctions of properties for sale in Athens and Thessaloniki. Sign up now and check for more details on-line on www.e-publicrealestate.gr.

FAQs

Registration
Q. Do I have to register to the portal in order to participate in the auctions?
Q. How do I register to the portal?
Q. Do I have to pay a subscription with my registration?
Q. What are the benefits of registering to the portal?
Q. Who is eligible to register to the portal?
Q. Can I register if I am not Greek Citizen?
Q. I forgot my Password, how do I log in?
Q. Can I change my Username?
Q. Can I change my Password?
Q. Can I erase my membership in the portal?

Search for properties and auctions
Q. How do I find properties with scheduled auction date?
Q. How do I find properties without scheduled auction date?
Q. How do I find properties auctioning now?
Q. Can I express my interest for a property not scheduled for auction yet?

Request bidding approval
Q. How do I request a bidding approval?
Q. What documents should I submit in order to participate in an auction?
Q. What is the value of the auction guaranty?
Q. When is the auction guaranty returned?
Q. How many days before the auction should I submit the bidding approval request, the required documents and the auction guaranty?
Q. Where can I find information about the property? Can I visit the property?
Q. Can I have access to additional documents concerning the asset which interests me?
Q. How do I know when an auction starts and ends?
Q. What does “Minimum Bid Increment” mean?
Q. Can I submit more than one bidding approval requests for auctions conducted at the same time period?
Q. Can I pay the purchase price with installments? What documents are required?
Q. How do I know that I can participate in an auction?
Q. Please clarify whether, according to the General Auction Terms, joint ventures between natural persons and/or legal entities, as stated in par. 3.1 “Eligibility Criteria” are eligible to participate in the Auction Process. The wording of par. 3.2 seems to allow the participation of such joint venture, without however any further special reference to the Participation Documents required in such a case nor to the way that the Asset will be transferred in the case where the joint venture is nominated as the Highest Bidder. In case of a positive answer, we would like you to clarify if the Participation Documents, and more particularly the Participation Guarantee in the form of a bank letter of credit mentioned in art. 4 “Participation Documents and First Bid”, will be submitted as described in the relevant article and the associated Appendices or should be worded accordingly and how. Moreover, we would like you to clarify, in the case where the joint venture is nominated as the Highest Bidder, how the Sale Contract described in art. 6 “Sale Contract Signature” of the General Auction Terms will be signed
Q. I would like to be provided with detailed information and starting prices for all the assets which will be tendered.

Bidding process
Q. How do I start bidding?
Q. How do I bid in two auction conducted at the same time?
Q. Can I bid with an increase bigger than the Minimum Bid Increment?
Q. Why did the auction end time extend?
Q. I have asked about the minimum starting price of the asset and I was told that it doesn’t exist or you don’t publish it yet, so in that manner you are making it very difficult for us to participate because if the minimum price that you ask is too high, then there is no point in visiting the asset and participating, and even issuing a € 20,000 letter of guarantee, without knowing if the minimum price of the asset is acceptable to us, regardless of whether the asset will ultimately be sold at the double or triple price, depending on the demand.

Auction closing
Q. How will I know if I am the winning bidder?
Q. How do I know the bidders ranking after the end of the auction?
Q. Can I submit a notice of objection?
Q. Can I file an objection regarding a tender for a HRADF (Fund) asset?

Transfer Procedure
Q. Are there any beneficial provisions concerning the cost of the transfer of the ownership of the Asset by the Fund?
Q. This means that I shall not pay any fees to the notary?

 

Registration

Q. Do I have to register to the portal in order to participate in the auctions?
A. Yes. In order to request approval for bidding in a sale or lease auction as well as to participate in an auction, it is required to register as a member of the portal.

Q. How do I register to the portal?
A. From the “Home Page” click “Create Account” and the page containing the form “Create Account” opens. Following the filling in of the mandatory fields of the form, click “Register”. Within the next minute you will receive an e-mail which will certify the receipt of your application and the Username and Password that you selected. The application will be examined by the portal administrator and within a maximum period of two days you will receive an e-mail approving the application.

Q. Do I have to pay a subscription with my registration?
A. No. You don’t have to pay a registration or a membership fee.

Q. What are the benefits of registering to the portal?
A. With your registration to the portal you can submit requests for approval to bidding to scheduled auctions as well as notifications for coming auctions before their announcement to the portal.

Q. Who is eligible to register to the portal?
A. Any physical or legal person or realtor can register to the portal. Physical or legal persons who register as members in order to participate in the auctions for leasing or buying a property for their own use are designated as Users. Realtors who register as members in order to participate in the auctions for leasing or buying a property on behalf of their clients are designated as Realtors.

Q. Can I register if I am not Greek citizen?
A. Any physical or legal person from all over the world can register to the portal as long as all the mandatory fields of the registration form have been filled in.

Q. I forgot my Password, how do I log in?
A. If you lost your password, click “Forgot your Password?” from the Login page (Home Page > Login) and you will receive an e-mail with directions for creating a new one.

Q. Can I change my Username?
A. No. The Username is uniquely associated with the rest of your personal data which you supplied during your registration.

Q. Can I change my Password?
A. Yes. If you click “My Account” (Home Page > My Account), the page with your personal data open where from you can select a new Password.

Q. Can I erase my membership in the portal?
A. Yes. If you click “My Account” (Home Page > My Account), the page with your personal data opens where from you can select “Delete my Account”.

 

Search for properties and auctions

Q. How do I find properties with scheduled auction date?
A. There are three ways:
- From the “Home Page”: In the “Home Page” click “Coming Scheduled Auctions”.
- From the “Auction Calendar”: In the “Auction Calendar” (Home Page > Auction Calendar) all scheduled auctions are displayed.
- From the page “Properties”: In the page “Properties” (Home Page > Properties), in the search field “Auction Stage”, select “Scheduled Auctions”.

Q. How do I find properties without scheduled auction date?
A. In the page “Properties” (Home Page > Properties), in the search field “Auction Stage”, select “To be Auctioned”. If you wish you can specify your query with more filters like: “Property Category”, “County”, “Exploitation Category”.

Q. How do I find properties auctioned now?
A. There are two ways:
- From the “Home Page”: In the “Home Page” click “Properties Auctioning Now”.
- From the page “Properties”: In the page “Properties” (Home Page > Properties), in the search field “Auction Stage”, select “Auctioning Now”.
It is important to know that in order to participate in an auction you should first have request a bidding approval and submit the required documents (if such documents are requested) and the auction guaranty.

Q. Can I express my interest for a property not scheduled for auction yet?
A. There two ways:
- From the “Home page”: In the “Home Page” click “Interested for a Property Not Yet Scheduled for Auction?” With this selection all properties not yet scheduled for auction are listed. Click on the property you are interested in and the property’s page opens. In this page click “I am Interested in the Property”. With this selection an e-mail is send to the portal administrator.
- From the page “Properties”. In the page “Properties” (Home Page > Properties) select “Coming Auction” in the field “Auction Stage”. With this selection all properties not yet scheduled for auction are listed. Click on the property you are interested in and the property’s page opens. In this page click “I am Interested in the property”. With this selection an e-mail is send to the portal administrator.

 

Request for bidding approval

Q. How do I request a bidding approval?
A. In order to request a bidding approval you should first have registered as member in the portal. To request a bidding approval first log in as a member (Home Page > Login) and then go to the page of the property you are interested for bidding (Home page > Properties > {query and selection of the property} > Property Information). Click “Request Bidding Approval”. Then click “I have read and accept the Auction Terms of the property”, which can be read in a scroll down window, and then click “Request Bidding Approval”. By clicking “Request Bidding Approval” an e-mail is send to the portal administrator in which the Username, the Auction ID and the text “I have read and Accept the Auction Terms” are displayed.

Q. What documents should I submit in order to participate in an auction?
A. If any documents are required they will be listed in the “Auction Terms” of the property in the property’s page. The documents will vary depending on the category and the value of the property.

Q. What is the value of the auction guaranty?
A. It varies depending on the category and value of the property. It is specified in the “Auction Terms” in the property’s page.

Q. When is the auction guaranty returned?
A. The duration of the auction guaranty and when it is returned are specified in the “Action Terms” of the property. Usually it is returned after the nomination of the highest bidder and the producing of the required documents for the conclusion of the transaction.

Q. How many days before the auction should I submit the bidding approval request, the required documents and auction guaranty?
A. The deadlines for the bidding approval request, the required documents and the auction guaranty are specified in the “Auction Terms” of the property.

Q. Where can I find information about the property? Can I visit the property?
A. The help desk phone numbers, from which any information can be requested, are listed in the “Auction Terms” of the property. In the auctioned property’s page (Home Page > Properties > {query and select the property} > Property Information), the majority of the information concerning the property and the auction can be found. The property can be inspected with scheduled visits.

Q. Can I have access to additional documents concerning the asset which interests me?
A. The available documents concerning each asset are included in the Information Pack of the asset, made available to Interested Parties following the procedure which is described in the related Auction Terms. No additional documents are available. In any case, Interested Parties are expressly urged to proceed to their own independent review of the asset in question.

Q. How do I know when an auction starts and ends?
A. It can be found in the “Auction Terms” of the property.

Q. What does “Minimum Bid Increment” mean?
A. It is the minimum increase of each new bid. The increase of a new bid can be equal or greater than the Minimum Bid Increment.

Q. Can I submit more than one bidding approval requests for auctions conducted at the same time period?
A. Yes. You can submit as many bidding approval request as you wish provided that the requested documents and the auction guaranty are submitted separately for each auction.

Q. Can I pay the purchase price with installments? What documents are required?
A. If the purchase price of the property can be paid up with installments it will be stated in the “Auction Terms” of the property. Also the required documents and the installments terms will be specified (duration, interest rate, frequency of installments).

Q. How do I know that I can participate in an auction?
A. To participate in an auction you should first be a member of the portal. The prerequisites for participating in an auction are:
- Submission of the bidding approval request within the specified period of time limit before the auction.
- Submission of the participation documents (if requested) and the auction guaranty within the specified period of time before the auction.
Following the verification of receipt of all documents and the certification of receipt of the auction guaranty, you will receive an e-mail by the portal administrator which approves your participation in the specific auction. If it is the first time that you participate in an auction you will receive the auction codes. The auction codes may change from time to time for security reasons.

Q. Please clarify whether, according to the General Auction Terms, joint ventures between natural persons and/or legal entities, as stated in par. 3.1 “Eligibility Criteria” are eligible to participate in the Auction Process. The wording of par. 3.2 seems to allow the participation of such joint venture, without however any further special reference to the Participation Documents required in such a case nor to the way that the Asset will be transferred in the case where the joint venture is nominated as the Highest Bidder. In case of a positive answer, we would like you to clarify if the Participation Documents, and more particularly the Participation Guarantee in the form of a bank letter of credit mentioned in art. 4 “Participation Documents and First Bid”, will be submitted as described in the relevant article and the associated Appendices or should be worded accordingly and how. Moreover, we would like you to clarify, in the case where the joint venture is nominated as the Highest Bidder, how the Sale Contract described in art. 6 “Sale Contract Signature” of the General Auction Terms will be signed.
A. Joint ventures between natural persons and/or legal entities are eligible to participate in the Auction Process and submit a Bid, provided that each member of the joint venture individually meets the Eligibility Criteria set out in the corresponding General Auction Terms.
In that case, each member of the joint venture must submit the relevant Auction Participation Documents provided in the General Auction Terms and, additionally, a notarized joint venture agreement must be also submitted, containing the following:
- the nomination of a legal representative of the joint venture vis-à-vis the Fund,
- the nomination of an agent-for-service of the joint venture, who must be a Greek language-speaking resident of Athens, expressly authorized to receive any document relating to the Tender Process,
- the determination of the participation of each member in the joint venture,
- the express stipulation that each member of the joint venture is jointly and severally liable vis-à-vis the Fund as far as the obligations of the Participants described in the General and the Special Auction Terms of the Tender in question are concerned.
In the case where the joint venture is nominated as the Highest Bidder, it must assume a corporate form in order to conclude the Sale Contract. Shareholding must correspond to the joint venture member participations, as declared in the notarized joint venture agreement. Shareholding may be altered upon request of the Highest Bidder at the absolute discretion of the Fund.
In the case of a joint venture, the Auction Participation Guarantee and the Transaction Guarantee must be issued in the name of the joint venture and must cover the joint and several liability of its members, which must be specified in the text of the letter of guarantee.

Q. I would like to be provided with detailed information and starting prices for all the assets which will be tendered.
A. You may be informed about the tenders through the website www.e-publicrealestate.gr. For both the submission of a request to participate in a tender for the sale or lease of a real estate asset and for your actual participation in an auction, it is necessary to register as a member of this website. Detailed information is provided in the General and the Special Auction Terms of the asset that interests you.

 

Bidding process

Q. How do I start bidding?
A. The bidding process is as follows:
i. Log in the portal as member (Home Page > Login).
ii. In the Home Page click “Bid in an Open Auction”. Alternatively you can click “Bid Now” in the property’s page (Home Page > Properties > {query and selection of the specific property} > Property Information).
iii. Following the above selection a new page opens where you are asked to enter the auctions codes. Following the entry of the auctions codes another page opens where there is a list of the auctions, or one auction, for which you have been approved to participate.
iv. Select the auction for which you wish to bid and the bidding page opens.
v. The last bid is shown in the biddings page.

Q. How do I bid in two auction conducted at the same time?
A. Following the placement of your bid in one auction, select “Exit” and the page with the auctions for which you have been approved to participate opens. Select the next auction in which you wish to bid.

Q. Can I bid with an increase grater than the Minimum Bid Increment?
A. Yes. The Minimum Bid Increment defines the minimum allowable increase from the last bid. The increase of your bid can be greater than the Minimum Bid Increment.

Q. Why did the auction closing time extend?
A. The “Terms of the Auction” of the property will specify whether there is an Auto-Extend Anti-Sniping option. In the case of bids in the last minutes before the end of the bidding, there is an option for an automatic small increase of the closing time in order to avoid the event of a User or a Realtor winning the auction by offering a bid with the minimum bid increment in the last minutes. The “Auction Terms” of the property will specify the time extension that will take place automatically according to a predefined number of bids in a predefined time period before the end of the bidding.

Q. I have asked about the minimum starting price of the asset and I was told that it doesn’t exist or you don’t publish it yet, so in that manner you are making it very difficult for us to participate because if the minimum price that you ask is too high, then there is no point in visiting the asset and participating, and even issuing a € 20,000 letter of guarantee, without knowing if the minimum price of the asset is acceptable to us, regardless of whether the asset will ultimately be sold at the double or triple price, depending on the demand.
A. Following a relevant resolution of the Fund and aiming at achieving the highest possible price, no starting price is set for Phase A of the Auction Process.
It is also noted that, based on current procedures, the valuation of each asset by an independent valuator is notified to the Fund at the same time the First Offers for each asset are opened, ie. it is not known even to the Fund itself, aiming at the maximum integrity of the process.

 

Auction closing

Q. How will I know if I am the winning bidder?
A. After the end of the auction and the completion of the appropriate procedures the winning bidder will receive an e-mail with the relevant announcement.

Q. How do I know the bidders ranking after the end of the auction?
A. After the end of the auction an e-mail will be send to all participants with the bidders ranking the first one being the highest bidder.

Q. Can I submit a notice of objection?
A. The “Auction Terms” of the property will specify whether there is the option for submitting a notice of objection and the relevant procedure.

Q. Can I file an objection regarding a tender for a HRADF (Fund) asset?
A. An objection procedure is not envisaged for tenders concerning HRADF (Fund) assets. Nevertheless, it is possible to refer to the competent courts as per the applicable legislation.

 

Transfer Procedure

Q. Are there any beneficial provisions concerning the cost of the transfer of the ownership of the Asset by the Fund?
A. The transfer of the ownership of the Asset from the Fund to the Highest Bidder is exempt from transfer tax (art. 2 par. 11a of L. 3986/2011) and subject to reduced notarial and land registry charges (art. 2 par. 11b-c of L. 3986/2011).

Q. This means that I shall not pay any fees to the notary?
A. No, this is not the case. The notary’s fees/expenses shall be borne by the Buyer.