How can I avoid a forced auction?

First of all, it is important to know that banks or lenders themselves are likely to have an interest in averting the forced sale, because no matter whether in Berlin or any other attractive real estate location in Brandenburg: the properties are always sold below the actual market value in such forced sales.

Take advantage of this! Here you can find out how:

Anyone who is threatened by a forced auction is in a rather precarious situation – financially on the one hand and often personally on the other, because it is often strokes of fate that lead to such serious financial shortages in the first place. If someone’s water is up to their neck anyway, the threat of a foreclosure of their home is even greater: on top of everything else, you have to fear that the beloved roof over your head will be taken away. So, if you are already down to earth, you will fall even further with an enforced foreclosure. Fortunately, in many cases it can be averted. In Berlin, Brandenburg as well as nationwide, the experienced team of Black Label Immobilien is at your side so that you can keep your home when you need it most.

A forced sale is not only about material loss; every property, every house and every flat are always associated with many memories and emotions. It doesn’t matter whether you built the house yourself, renovated the flat on your own initiative, and it doesn’t matter whether you lived in it for many years or perhaps just a short time: One usually associates many personal stories with one’s own four walls. Perhaps you have started a family there, celebrated parties, in short: lived. So, it is only too understandable that one wants to avert an imminent forced sale at all costs.

---

Read here how you can protect your property in Berlin-Brandenburg with suitable measures
and how they can limit the damage.

For example, it may still be possible to avert a forced sale

In Berlin and throughout Brandenburg, the situation with bank debts is such that in some cases the interest due can be adjusted to the current situation. If, for example, you can prove that the inability to pay your loan instalments is only short-term, you may be able to negotiate a compromise with the bank, for example, by reducing the instalments or not paying them at all for a fixed period, or by temporarily deferring the instalments completely. However, this is not a solution for long-term liquidity constraints.

But even if there is no prospect of an improvement in the financial situation in the long term, there is still the possibility of rescheduling debt, for example, provided the agreed period of fixed interest rates has expired. You can then negotiate a new loan with your bank at a more favourable interest rate – in some cases such a reduction may already be enough to enable you to continue paying off your instalments.

You may also be able to avert a foreclosure sale with targeted own initiatives.

Intensive savings measures are quite easy to implement and effective, especially in conurbations such as Berlin-Brandenburg. The sale of alternative possessions, such as valuable jewellery or cars, can also mean that you can pay your debts to the lender so that the lender refrains from foreclosure. Another option is to rent out your house or flat at least for a certain period of time or, if the size of the property allows, to find a subtenant who will relieve you of the monthly costs.

Even if it seems too late, the last word hasn’t necessarily been spoken yet and the hope of the last spark hasn’t gone out. If the forced sale has already been announced, you have a two-week right of objection. In order to be able to avert the compulsory auction in this case, you should then file a corresponding application for the discontinuation of the proceedings. You can have the proceedings stopped in court if you can prove that the liquidity bottleneck will be over within half a year and the outstanding debts can then be settled.

In some cases, however, you may not be able to avoid selling your property – but you can avoid a forced sale if necessary. Especially if you can already foresee that you may not be able to reach an agreement with the bank, you should definitely aim to sell on your own. Because then you can at least achieve a reasonable selling price which can help you out of financial misery.