Since December 2014, the purchase of properties auctioned in Andorra is done through the figure of the Saig. It is a professional of the right to which the Government has given the authority to execute the embargoes by force. It is a cheap and accessible service. Anyone can go to an auction and bid.
The Saig arises because in Andorra before then the executions corresponded to mayors and courts. Due to the increase of embargoes by the crisis, these organisms were overwhelmed and believed necessary the creation of this figure. Always under the control of the agency that has dictated acts and resolutions.
If we want to invest in Andorra by going to an auction, the procedure is very simple. Just consult the Bopa.ad the auctions to be made (column on the left, Saig -> auctions). After that, you should call to the Saig who is executing the auction. We can find their telephone numbers here. If the stile is high, like a floor, it is normal that you can go see it before going to the auction. The Saig will tell us where and when the auction will be done.
In order to access the auction, 15% of the starting price must be deposited to demonstrate a minimum interest. The account where to do it will be found in the same edict where the auction is announced. If we decide not to bid because the good does not convince us or if we plant, they will return this money in two business days.
A first auction is carried out, establishing an exit price of 70% of the appraised value. In case it is not awarded, a second one is made with an exit price at 50% of the appraised value. It is very important to look at whether the good has debts, because we would have to pay them. Usually compensates pay them, but there are cases in which no.
As for the Saig fees, we would not have to pay something. In the case of enforced executions, they are paid by the performing party and claimed to the executed party. If it is not enforced, the person who asks the Saig pays the fees.
I will give a simple example of its operation. While writing this article, I have seen that a Seat Panda priced at € 300 was auctioned. Although this article focuses on real estate, I prefer to put an example with small amounts because it is simpler to see and the procedure is exactly the same as with the flats. As the second auction, its starting price is € 150. It also has an associated debt of € 233.39, for unpaid vehicle fees from 2014 to 2017. To be able to enter the auction, 15% of the starting price is € 22.50 which would have to be paid in the account indicated in the edict. Now I would call the Saig to inform me of the time and place of the auction, I would make the 15% deposit and that's it. Once in the auction, if I see that the state of the car compensates me, I bid, and if not, then no.