Hellenic Bank Auctions

1. E-Auctions

These auctions are held electronically through the E-Auctions platform.

How to – Bidder

• If you are Cypriot (physical or legal), you first need to register on the Ariadne Portal if not already done so. This can be done through the following link:
  https://eforms.eservices.cyprus.gov.cy/
• Register on the E – Auctions platform (registration is free).
• Select the auction in which you wish to participate.
• Deposit the guaranteed amount (2 – 7 working days prior to auction date). The minimum guaranteed amount is 10% of Reserve Price.
• The deposit can be done either with the use of a debit or a credit card or by money transfer to the dedicated bank account
• On the auction date, login and place your bids for the selected properties.
• On the screen you will be able to see the current price, your last bid and your ranking. You may place higher bids up until the end of the bidding process.

If your bidding is successful

• An email will be sent to you by ACB E-Auctions Ltd, informing you of the outcome and next steps.
• The guaranteed amount will be forwarded electronically to the Mortgage Lender with whom you will be in contact for the rest of the procedure concerning payment of the remaining amount, registration fees (€10 per application), title issuing costs (€ per title) and possible transfer expenses (8% of the sale proceeds exceeding the amount of € 350,000 per property owner, currently reduced by 50%) or V.A.T.
• The remaining amount is paid to the mortgage lender within a period not exceeding twenty (20) days from the date of the auction.
• Important Notice: in case you fail to pay the remaining amount in the above time period, you will not be entitled for a refund of the down payment already made.
• If the property is subject to V.A.T. this is payable to the mortgage lender within a period of 30 days from the date of the auction. The VAT payable is not included in the sale price, it is over and above the sale price amount.

If your bidding is not successful

• An email will be sent to you by ACB E-Auctions Ltd informing you that your bid was unsuccessful.
• The guaranteed amount will be released.

Useful Information regarding e-auctions

• HOW TO: https://www.eauction-cy.com/Home/HowTo

• FAQ: https://www.eauction-cy.com/FAQ

2. General Issues

The mortgaged property may not be sold:

• To a person who holds more than two per cent (2%) of the share capital of the authorized credit institution or a licensed financial institution or is connected with/relates to this person or their representative or their spouse or their parent or their descendants up to third degree, or any officer, director, employee of the mortgagee.
• To any officer, director, agent or relative up to the fourth degree of auctioneer.
• To the third-party valuators who prepared the property valuation reports and their relatives up to the fourth-degree relation.

For any additional queries or information please call at: 22812912

HELLENIC BANK PUBLIC COMPANY LTD as mortgagee of the mortgaged property/ies for sale (hereinafter the “mortgagee”) and THEMIS PORTFOLIO MANAGEMENT LIMITED as authorised and appointed representative of the mortgagee (hereinafter the “agent”), have made every reasonable effort to confirm and/or verify the information provided regarding said property/ies for sale. It is noted, however, that a) the mortgagee and the agent are neither the owners nor the occupiers of the mortgaged property/ies for sale and b) this information is acquired from public records/authorities and/or third parties and thus could not be confirmed for accuracy, correctness or completeness. Therefore, all information, data and details regarding the mortgaged property/ies for sale are intended for informational purposes only, without the mortgagee and the agent assuming and/or bearing any responsibility and/or duty and/or obligation towards any person who may become aware of the said information and/or may wish to rely on said information.

The mortgagee and the agent strongly recommend interested buyers to conduct their own investigations and/or on-site examination of the mortgaged property/ies for sale and obtain independent professional advice, in order to gain personal knowledge and/or ascertain the actual condition, characteristics and suitability of the mortgaged property/ies for sale, for the intended purpose and/or verify all information and data that may affect their decision to participate in the upcoming auction of the mortgaged property/ies for sale.”