According to the Department of Justice, around 10,000 homes are seized by the courts each year. Then they are often auctioned off at the trial court. The sale price allows the owner to pay off his debt. These transactions are even rarer – a few dozen per year – for exceptional properties and especially castles. Atypical sales that often arouse desire among buyers. This is the case of a prestigious 19th-century chateau with a 30-hectare park located in Montilliers near Angers (49).
Built in the footsteps of a 15th-century fortified house, the property is estimated to be worth around three million euros and was auctioned for €900,000. That’s 70% off! Reason? The owner’s real estate company was liquidated for unpaid debts and her castle was seized to pay off the debts. A blessing for buyers! And yet, according to the plaintiff, no one stepped forward and offered. In the event of an unsold item, a good “will be returned to its owner, the seller“, states the Council of Auction Houses. “However, it can be sold either after an “over-the-counter” transaction to a designated buyer or through a subsequent auction.»
The castle is occupied
Although Tirpoil Castle is in serious need of renovation, it has what it takes to attract buyers. The property is spread over five levels, from basement to attic, and has a library, billiards, several living and dining rooms, eight bedrooms, three bathrooms and an old chapel. The icing on the cake: 18 hectares of forests and 12 hectares of meadows and ponds. A dream space, but one that requires a lot of maintenance. The same applies to the numerous outbuildings, which are a definite asset, but also not very fresh, as described in the Justice Commissioner’s minutes: the old stables are in poor condition, the water tower is very dilapidated and no longer useful. wash the house or even the dilapidated caretaker’s house.
However, these attractive assets hide a major downside: the winner of the auction would buy the occupied property. The current owner has the right to stay in the castle, it is up to the new owner to ask her to leave. “The buyer can assert a claim for eviction that he has against the debtor.», specifies the conditions of sale. “A document that confirms a transaction (received on auction day) equivalent to a deportation order» Romain Rossi-Landi, a real estate lawyer, tells me. But these atypical sales can turn into a nightmare, especially if the seller is older. “I waited two years to get my house back» protests Bernard, who acquired a house in Normandy for 325,000 euros, sold at auction after foreclosure. The fault lies with the former owner, now the 80-year-old founder of Jacquet breads, who hit the brakes to leave the premises.