How to bid

Purchase residential and commercial property on in a transparent and simple online auction process, with confidence, from Piraeus Bank owner and seller of the properties. Financing is also available.

1. Find property

Find the properties you are interested in, download and review carefully the information provided on each property.

The properties are sold on "as is basis". Any costs associated with completing construction, refurbishment, repairs etc. which may be required will be the sole responsibility of the purchaser.

2. Register and View property

If you are interested in participating in the auction you should first register.

We offer real estate agents to invite interested clients to You may authorise an agent cooperating with to register you in which case we will send you an email to complete the registration your agent has initiated. Agents who register with have agreed not to charge a commission to their clients. Being registered by an agent does not impact your chances of winning an auction or the purchase price you will pay to Piraeus Bank.

You can visit the properties you are interested in during the "open day". Details of the open day are displayed by clicking the "View property" button on each property page

3. Apply for a Loan

If you require a loan to purchase a property on, Piraeus Bank is offering (subject to approval of your application) financing up to 70% (50% for persons not residing in Greece) of the final purchase price or the Buy Now price (whichever is lower) with an interest rate of 1m Euribor plus margin of 3.00% plus the Law 128/75 charges (currently 0.12% for residential use and 0.60% for commercial use properties).

You can apply for a loan at any Piraeus Bank branch. Find out more in "Financing Options" on the page of the property you are interested in purchasing or click here.

Piraeus Bank will respond to your loan application within 3 business days. However, we encourage you to apply for a loan at least one week prior to the auction date.

For financing of legal entities please visit any Piraeus Bank branch.

4. Bid

Prior to the start of the auction the "Buy now" option will be available for a property at the fixed price displayed. If you choose to Buy Now we will call you promptly and invite you to sign the Presale Agreement, a draft of which is available on the property page, and pay the deposit described therein. Only then will the property close to further bids and be removed from the auction (will show as “Under Offer”).

If you want to bid for a property in the auction you will first need to click on "Apply to bid" on the relevant property page. If you are interested on more than one property you will need to apply separately for each property. You should apply to bid after reviewing the property material and visiting the property you are interested to buy. If you have not spoken to us before, we will probably contact you at the number you provided during your registration before approving you for the auction.

Once the auction starts you can make an offer on the property you are interested in starting from the "Opening bid". Each subsequent bid must be higher than the Current Bid by at least the fixed "Bid increment" displayed below the Current Bid amount.

If there is a bid on a property in the last minutes of the auction, the auction of this property will be extended to provide the opportunity to other interested users to place their bids.

We remind you not to bid on a property if you do not have the funds available to purchase it.

Furthermore, the Bank has a Reserve Price for each property. The Bank may refuse to sell if the highest bid at the end of the auction is less than the Reserve Price. The Reserve Price is not published, but bids close to the Opening Bid are likely not to meet the Reserve Price.

5. Completion

When the auction ends we will contact the winning bidder to inform him if his bid is successful (that is, if the Reserve Price has been met) and invite him to pay the deposit and sign the Presale Agreement within 3 working days.

Your solicitor will then complete the necessary review of the property titles and other documentation in order to complete the purchase.

For full details on the auction process, please read the Terms and Conditions.

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