🇮🇹 Italy Auction Playbook

Overview

Italy has one of the largest judicial auction markets in Europe. Properties are sold through tribunals after mortgage defaults or insolvency proceedings. The market is highly fragmented across regional courts, creating information asymmetry that benefits informed buyers.

How Italian Judicial Auctions Work

1. 1

   Properties are listed on the Portale delle Vendite Pubbliche (PVP), the official national portal.

2. 2

   Each listing includes a court-appointed expert valuation (perizia) detailing the property's condition, legal status, and estimated value.

3. 3

   Bidders must deposit a cauzione (typically 10% of the base price) via certified bank transfer before the auction.

4. 4

   Auctions are conducted either in-person at the tribunal or electronically via authorized platforms.

5. 5

   The minimum first bid is the base price. If no bids are received, the property is relisted at a 25% reduction.

6. 6

   The winning bidder must pay the remaining balance within 60–120 days.

7. 7

   The court issues a decreto di trasferimento (transfer decree) which acts as the deed and clears most encumbrances.