What is Auction?

An auction is a form of sale based on price increase among buyers in the sale of real estates (houses, workplaces, and plots) owned by institutions and organizations. Before the auction, the qualifications, prices, conditions of sale of the properties to be sold within the scope of the auction are determined and announced. Real persons or legal entities who are knowledgeable in this context and who wish to purchase real estate shall complete the relevant procedures and participate in the auction. During the auction, the participants submit their bids following the relevant sales conditions and collateral costs. The bidders whose bids have been approved are directed to the contract and payment process required for the purchase of the real estate of interest.