Faq - Frequently asked questions

What is an auction?
Auction is the legal process in which the debtor's assets (e.g an immovable property) are sold publicly in order to cover the creditors' claims.
What is an electronic auction?
Since the 21st February 2018, all auctions in Greece are conducted online on www.eauction.gr (Electronic Auction System (EL.SY.PLES)).Each electronic auction is posted on www.eauction.gr and is conducted by the designated for this purpose Auction Employee.
What are the stages of an auction?
A property is sold at a public auction, when there is an enforceable title (eg payment order or final court decision), which is notified to the debtor.The next stage is the publication of the auction by the bailiff, by posting the excerpt of the seizure report, on the Auction Publications Website of Legal Fund`s Legal Publications Bulletin (https://deltio.tnomik.gr/).
Following the publication in https://deltio.tnomik.gr/, the Auction Employee has to post it on the website www.eauction.gr, which is the platform for conducting electronic auctions.
Why an auction published in the Legal Fund, has not been posted on www.eauction.gr?
Auctions can be suspended at any stage of the process. This means that auctions published in the Legal Fund may be suspended before being posted on www.eauction.gr
How can I participate in an electronic auction?
In the electronic auction can participate only natural persons or representatives of legal entities, following the following steps:
      1. Register as a candidate bidder in www.eauction.gr.
      2. Submit an application for participating in an auction.
      3. Deposit the participation guarantee amount which equals to 30% of the starting price.
The above mentioned actions must be completed two (2) working days before the appointed day of the auction, at 15.00. The Auction Employee, after the expiration of the above deadline, checks the applications and supporting documents, and finalizes the list with the bidders who are eligible to participate in the auction.
When are the electronic auctions conducted?
The electronic auctions are conducted on Wednesday, Thursday and Friday, from 10:00 until 12:00 and from 14:00 until 16:00.
How are the electronic auctions conducted?
At the following link https://www.eauction.gr/Home/HowTo you can see a video that presents the bidding monitor and the bidding process as well.
Are there any other issues I need to be aware of before participating in an auction?
Prior to participating in an auction, we strongly recommend to read the Candidate Bidder Instructions Manual In addition, it is also recommended a more extensive inspection of the property under auction, by a solicitor and / or engineer.
Can I pay a visit to a property under auction before participation?
In most cases, there is not such availability.