Greece
Calamos Supports GreeceCalamos Supports Greece
GreekReporter.com Greece Online Auction Platforms for Repossessed Properties to Be Launched in Greece

Online Auction Platforms for Repossessed Properties to Be Launched in Greece

There is an abundance of properties that have come under Greece’s four systemic banks over the past few years as bad loans have led to foreclosures and repossessions. According to bank officials the repossessions due to non-performing loans (NPLs) are from loans that were taken by owners before the financial crisis and the properties amount to some 40 billion euros in value, ekathimerini.com reported.
With so many acquired properties, banks are now looking for ways to auction them off through an online platform for investors. The online advantage will help curb many additional costs and lenders are looking to launch the first online platform and auction of this kind this June.
The online platform will supply bidders with all the property details and the potential owners will also be able to visit the properties as well as make their offer online.

Contact our newsroom to report an update or send your story, photos and videos. Subscribe here to get Greek Reporter's latest news right to your inbox, once daily! You can also follow Greek Reporter on Google News.




Related Posts