Buying an occupied property: timescales and risks
Between two identical flats at the same price, one vacant and one occupied, you are not looking at two similar offers. You are looking at two different operations, with two different timescales and two different risks.
It is the factor that shifts the real value of a lot more than any other. And it is also the one notices say least about.
In two cases out of three it is not stated
Of 400 active properties sampled from the Portale delle Vendite Pubbliche in September 2026, the occupancy status breaks down as follows:
| Stato | Quota |
|---|---|
| Non indicato | 64,5% |
| Libero | 17,0% |
| Occupato | 16,2% |
| Occupato senza titolo | 2,0% |
| In corso di liberazione | 0,2% |
Almost two thirds of listings do not say whether the property is occupied.
Where the information is given, the split is almost exact: 68 vacant against 74 occupied in some form. Half and half.
Nobody knows how the 64.5% with no indication behave, and it is not a detail: if the problematic lots were precisely the ones about which nothing is said, the real share of occupied properties would be higher than this. I have no way of checking. The practical point, however, does not change — for two lots out of three you have to find out the occupancy status yourself, and the only way is the appraisal report or the custodian.
The place to find out is the appraisal report, which almost always describes the occupancy status. The second place is the court-appointed custodian, who is the person who has been inside.
The three situations, in order of difficulty
Vacant. The property is empty and the custodian usually has the keys. After the transfer decree you take possession with no further steps. It is the simple case, and it is also the one that costs the most at auction, because everyone wants it.
Occupied by the debtor or their family. It is the most frequent case among those declared. There is no contract; there is a person living in a home they are losing. Vacating takes place on the judge’s order, carried out by the custodian. The timescales depend on the court, on the occupant’s cooperation and on the presence of vulnerable situations — minors, elderly people, disability — which in practice drag everything out.
Occupied by a third party with a contract. Here one date counts: if the lease was registered before the registration of the attachment, the contract is in principle enforceable against the buyer, within the duration limits laid down by law. In other words, you find yourself with a tenant who has the right to stay, and a rent that may have been out of line with the market for twenty years.
If, on the other hand, the contract is later, or is not registered, the occupant’s position is much weaker.
The difference between the second and third cases cannot be seen by walking into the home: it is seen by reading the appraisal report and the documents. That is why the registration date of the contract is one of the first things to look for.
The release order
You do not have to sue anyone. The transfer decree already contains the order to vacate the property, and the vacating is carried out by the custodian appointed by the judge.
This is the point that most reassures newcomers to auctions: you are not buying a lawsuit to be started, you are buying a title that already contains the release order.
What the order does not contain is the timescale. Between the decree and having the keys in your hand, a few months or more than a year can pass, and the variable is not legal — it is practical. An occupant who cooperates leaves quickly. One who does not requires repeated visits, possibly with the police, and each step takes its own calendar time.
What it is worth, in money
Waiting is not free, and quantifying it before bidding is the difference between a bargain and breaking even.
While you wait you still pay the taxes on the property. If you are renting, you keep paying rent. If you were planning to let it, those are months of rent you do not collect. If you were planning to resell it, you cannot even put it on the market credibly.
A year of waiting on a €100,000 property, between IMU, your own rent and lost income, can be worth more than what you saved at auction.
Then there is a risk that cannot be quantified: the condition in which you find the property when it is handed back. People who leave unwillingly rarely leave things in order.
How to price an occupied property
There is no formula, but there are three questions that narrow the field.
How long the situation has lasted. An occupation that has gone on for years with a stalled procedure is a different signal from a recent situation.
Who is there. The debtor alone is one thing. A household with minors is another, because timescales lengthen and the court’s sensitivity changes.
What the custodian says. They are the only person who has spoken to whoever is inside. If they say there is willingness to leave, that is worth more than any estimate.
If uncertainty remains after these three questions, the right answer is not to bid less: it is to decide whether you want to buy that uncertainty.
Frequently asked questions
Do I have to bring eviction proceedings? No. The transfer decree already contains the order to vacate, and the vacating is carried out by the custodian on the judge’s order.
How long does it take to get the keys? It depends on the court and on the cooperation of the occupant. From a few months to more than a year: nobody can guarantee a date.
If there is a tenant with a contract, do I have to keep them? It depends on the date: a lease registered before the registration of the attachment is in principle enforceable, within the limits of the law. A later or unregistered one much less so. It must be checked in the procedure documents.
Can I view an occupied property? Yes, but it has to be agreed with the occupant through the custodian, and it takes longer. It is worth insisting: seeing who opens the door tells you a lot about the timescales you will face.
Can I buy and let whoever is living there stay? If it is a tenant with an enforceable lease, essentially yes. In other cases no, and in any event it is not a choice to improvise after the award.
Occupancy status data: sample of 400 active properties queried in September 2026 from the public catalogue. This guide describes the general framework: what emerges from the appraisal report and the procedure documents always prevails.