Where are judicial auctions published in Spain?

On the BOE State Agency Auction Portal (subastas.boe.es), where you can review the lots, appraised value, starting value and required deposits.

What happens if I am the only bidder and bid below the starting value?

If no bidder reaches the starting value, the creditor can request the award of the asset for a percentage of the appraised value as set out in the LEC. If nobody bids and the creditor does not request the award, the auction is declared void.

Can I view the property before bidding?

It depends. The auction notice states whether a viewing is possible. In occupied properties it is usually difficult or impossible. In vacant ones, some courts or the insolvency administrator allow prior appointments.

Is there a minimum bid amount?

The minimum bid is usually the starting value, though in many cases you can bid below it if no one has reached that threshold. The LEC sets the award rules based on the percentage achieved against the appraised value.

How long from winning the auction to having the property?

The deadline to pay the full price is set by the court (usually between 10 and 40 days from approval of the award). Then the award decree must be registered in the Land Registry. If the property is occupied, eviction can add months.

How to invest in judicial property auctions

A practical guide to investing in judicial auctions in Spain: what they are, how the BOE auction portal works, what deposits are required, the risks involved and how to find the best opportunities.

What a judicial auction is

A judicial auction is the mechanism by which a court sells an asset to satisfy a debt. When a borrower fails to pay a mortgage or other loan, the creditor can request judicial enforcement. The court seizes the asset and puts it to public auction so that the highest bidder acquires it and the creditor is paid.

In Spain, since 2015, all judicial auctions of real estate have been held electronically on the BOE State Agency Auction Portal (subastas.boe.es). Previously they were held in person at courthouses, which greatly limited access. Now anyone with a digital certificate and funds in their account can bid from home.

How the BOE Auction Portal works

The portal publishes all relevant information for each auction: the asset being auctioned, the appraisal value, the starting value (minimum bid price), the charges against the asset and the deposit required to bid. Bids are placed online during the period set by the court (usually 20 business days).

Search by asset type (urban or rural property, vehicle, etc.), province or amount.
Review the auction notice: it contains the asset description, known charges and appraised value.
Obtain a Land Registry extract to verify all charges.
Lodge the deposit (usually 5% of the starting value) to be eligible to bid.
Bid online within the deadline. If you win, you have a set period to pay the remaining price.

Appraised value versus starting value

The appraised value is the asset valuation made by a certified appraiser, which serves as the legal reference for the auction. The starting value is the minimum bid price, which may be 75% of the appraised value (in mortgage enforcement proceedings, under the Civil Procedure Act) or another percentage depending on the type of enforcement.

If no bidder meets the starting value, the creditor can request the award of the asset for a set percentage of the appraised value under LEC rules. This opens the door to the enforcing creditor selling the property in a secondary market at a discount.

Auction example

A flat in Valencia with an appraised value of 120,000 euros goes to auction with a starting value of 90,000 (75%). The deposit to bid is 4,500 euros (5% of 90,000). An investor bids 78,000 and wins. They must pay 78,000 minus the deposit already lodged within the court-set deadline. The discount on the appraisal is 35%. This outcome is possible, not typical or guaranteed.

Which charges you take on when awarded

When you are awarded an asset at auction you take on the charges that predate the one giving rise to the enforcement. That is, if there is a senior mortgage that predates the attachment being enforced, that mortgage stays live and you must service it. Charges arising after the enforcement are cancelled in the Land Registry.

That is why the Land Registry extract is essential before bidding: it shows all charges in chronological order so you can calculate the true cost of the asset.

The occupancy problem

One of the most significant risks in judicial auctions is that the property is occupied. If the original borrower or third parties remain in the property, you will need to start an eviction proceeding to regain possession. That process can take anywhere from several months to over a year, with the associated legal costs.

Some auctioned properties allow prior viewing; others do not. When the interior cannot be seen, the risk of occupancy and poor condition is higher, and that should be reflected in the maximum price you are willing to pay.

Taxes and costs on adjudication

Property Transfer Tax (ITP) if the property is second-hand, which varies by autonomous community (between 6% and 10% of the adjudication value).
Stamp duty (AJD) in some cases.
Notary and Land Registry fees.
Solicitor and court agent fees if you need representation in the proceedings.

Where we fit in

At InvertirDeuda we filter the BOE auctions and send you, for free, the ones with the most potential margin: the appraisal, known charges, occupancy status (when available) and starting price. You do your own analysis and decide whether to bid.

Frequently asked questions

Where are judicial auctions published in Spain?: On the BOE State Agency Auction Portal (subastas.boe.es), where you can review the lots, appraised value, starting value and required deposits.
What happens if I am the only bidder and bid below the starting value?: If no bidder reaches the starting value, the creditor can request the award of the asset for a percentage of the appraised value as set out in the LEC. If nobody bids and the creditor does not request the award, the auction is declared void.
Can I view the property before bidding?: It depends. The auction notice states whether a viewing is possible. In occupied properties it is usually difficult or impossible. In vacant ones, some courts or the insolvency administrator allow prior appointments.
Is there a minimum bid amount?: The minimum bid is usually the starting value, though in many cases you can bid below it if no one has reached that threshold. The LEC sets the award rules based on the percentage achieved against the appraised value.
How long from winning the auction to having the property?: The deadline to pay the full price is set by the court (usually between 10 and 40 days from approval of the award). Then the award decree must be registered in the Land Registry. If the property is occupied, eviction can add months.