Buy Property in Faro, Albufeira

If you bid within 24 hours of completion of the auction, the auction time will reset to 24 hours.

Any bid you place on the auction will be a smart bid, meaning that your bid amount will be automatically raised to that amount in increments of €250. If another bidder bids an amount higher than your current bid, the smart bidding system automatically takes your bid to just above their amount bidded until it reaches your maximum bid entered.

When you place a bid for a property you will be asked to verify your phone number to validate your bid. By validating your bid you become legally obligated to purchase the property for that amount should you win the auction.

As the auction time nears completion, you may be asked to further verify your identity by providing proof of funds and proof of identity. Failure to do so may result in your bid being disqualified.

Upon auction completion, if you are the winning bidder, you will be asked to sign a promissory note. Once signed, a 5% deposit is required within 48 hours to complete the deal. Failure to do so will result in the property being given to the next highest bidder.