Execution auctions
At Westvaer, we are the experts in organizing and guiding execution auctions. With a wealth of experience, we support both voluntary and forced property auctions. We are also your trusted partner for online auctions. Our expertise and scale make us the largest specialist in this field in The Netherlands. We conduct auctions for many leading parties in the country.
What is an execution auction?
An execution auction is a forced public sale of real estate, usually due to payment arrears. Banks, creditors or other involved parties often engage a notary to oversee the process.
In an execution auction, the notary is responsible for ensuring that the sale proceeds legally, the interests of all involved parties are safeguarded and the property is sold under the best possible conditions. The process includes drafting auction terms, publishing auction details and organizing the actual auction.
How does Westvaer support execution auctions?
At Westvaer, we offer a complete range of services for execution auctions. From advice and preparation to execution, our notaries and experts are here to guide you.
- Advising on the right approach
Every execution auction is unique. Our specialists begin with a thorough analysis of your situation to develop a tailored strategy. This includes consideration of legal, financial and practical aspects.
- Guidance from start to finish
We ensure a smooth resolution of the entire auction process, including:
- drafting auction terms in compliance with applicable laws and regulations;
- publishing auction details on various (auction) platforms;
- careful communication with all parties involved, such as creditors, debtors, banks and potential buyers.
- Legal certainty during execution
Our notaries ensure that all legal aspects are handled correctly, from bidding to final approval. This minimizes risks and ensures that the process is transparent and reliable.
Frequently asked questions about execution auctions
We answer some common questions here:
What is the difference between an execution auction and a foreclosure auction?
An execution auction is initiated by a mortgage holder, usually the bank. A foreclosure auction, on the other hand, involves the sale of real estate seized by a creditor. Our notaries handle both execution and foreclosure auctions.
Can an execution auction be prevented?
In some cases, it is possible to prevent an execution auction by arranging a settlement with the creditor or through a private sale. Our notaries can advise and guide you to make the most of all available options.
What is a private bid?
In an execution auction, an unconditional written bid can be submitted to the auctioning notary up to 14 days before the auction date. This bid can be accepted by the mortgage holder. If accepted, a sales agreement can be established, which must be approved by the court.
What is a rental clause?
A rental clause in the mortgage deed states that the mortgagor (the borrower) is not allowed to rent out the property or use rental income without the mortgage holder's (usually the bank's) consent. If a rental agreement is made in violation of this clause, the nullity of the agreement can typically be invoked during the execution auction, allowing the property to be auctioned without tenants.
Why might an execution auction be canceled?
An execution auction can be "withdrawn" up until shortly before it begins. Reasons may include the property being sold privately, a settlement with the creditor or a court-approved request for a private sale.
Do you have more questions? Our experts are here to help.
Why choose Westvaer?
At Westvaer, we combine years of experience with an innovative approach. We understand that an execution auction is more than just a legal procedure - it is a process that must be conducted carefully and with consideration for all involved parties. As specialists in execution auctions, we have a proven track record in managing both simple and complex voluntary and forced auctions.
Would you like to know more about how we can assist you with an execution auction? Contact us today for a no-obligation consultation. At Westvaer, you can count on a professional, reliable and dedicated partner that strives for the best possible results.