How to Buy Properties from BAMC
BAMC publicizes all listings for properties available for sale or lease on its website. All listings are published for a period of at least 14 calendar days for properties with published indicative asking prices below EUR 500,000; 30 calendar days for properties with published indicative asking prices above EUR 500,000 and below EUR 1,000,000; and 60 calendar days for properties with published indicative asking prices higher than EUR 1,000,000. Under special circumstances the posting period can be shorter. For extending existing renting contracts and temporary renting (up to 1 year), a public announcement is not mandatory. Each listing has a contact person assigned. The sales procedure may also be conducted by a third-party agency under an agency agreement with BAMC. BAMC reserves the right to change the manner of the sale procedure at any time (call for indicative offers, call for binding offers, auction sale etc.). The manner of the sale procedure is indicated in the listing. BAMC shall not be liable for any errors in the sale of properties and shall conduct the sale on an “as seen” basis. BAMC reserves the exclusive right to turn down all arriving offers and repeat or extend the sale procedure.
In calls for indicative offers, the bidders are invited to submit their offers by filling out and sending the indicative offer form provided on the website. They may also send their offers by mail, where only offers arriving by registered mail with receipt of delivery shall be considered. Each offer shall be considered individually and as soon as possible. Offers must include the name and surname of the bidder, the offered price and a signed statement whether the bidder is buying the property for themselves or on behalf of a third party. Additionally, offers for the purchase of commercial real estate with published indicative asking prices above EUR 500,000 must include signed statements in the “Know your client” procedure.
In the event of a sale by public call or auction, the terms of the call/auction shall be published separately on the listing for the property in question (deadline for offers, date of auction, amount of the security deposit, starting price etc.).
The non-selected interested parties may protest the sale procedure within 5 days of receiving the relevant decision of non-selection. Their written appeal may be sent by certified mail with a delivery receipt or by email directly to BAMC. The applicant should state their full name and address, the relevant property code (RE ID) subject to the appeal, a statement of presumed violations, and an account of the facts, with proof supporting the claims. The appeal is reviewed by the BAMC executive directors, followed by a decision.