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Correction of the first offer price of a property in an auction – The no. 30/2023 Decision of the Court of First Instance of Syros

In a case successfully handled by our office, the Single-member Court of First Instance of Syros accepted the Objection of our principal at the request of correction of the property's first offer price of, in view of an auction.

The Court surmised that damage occurs to the objector from the difference in the estimate and set the price of the first offer in the amount of 320,000 euros instead of the amount of 290,000 euro, set by the valuation company and the bailiff.

It's about her Objection to price correction of article 954, par. 4, of the Code of Civil Procedure, an important remedy, during the auction process.

In accordance with Article 954 of the Civil Code:

4. After an objection by the party seeking enforcement or by the defendant or by anyone else who has a legal interest, the competent court under Article 933, judging in accordance with the procedure of Articles 686 et seq., may order the correction of the report and its excerpt , in particular as regards the description of the seized item, the assessment and the first offer price. The objection is inadmissible if not filed no later than fifteen (15) business days before the day of the auction. The decision must be published by 12:00 noon on the eighth day before the auction and is posted on the same day by the secretariat on the website of auction publications of the Bulletin of Judicial Publications of the Electronic National Social Security Agency (e-EFKA).

An excerpt of the decision is given



Insurance Measures Procedure


COMPILED by Judge Malamo Koui, Court of First Instance, who was appointed by the President of Court of First Instance of Syros.

HELD in public, in his audience, on October 5, 2023, without the participation of a secretary. to try the case between:

OF THE OFFICER: …………………………………. 

OF EACH THE REVIEW: …………………………………………………… 

DURING THE DISCUSSION of the case, the parties appeared as noted above and their attorneys, after developing their claims orally, asked to be admitted.



With the objection in question, the objector requests the correction with no. ………………./09-03-2023 report of forced seizure of immovable property of the bailiff of the region of the Aegean Court of Appeal, based at the Syros Court of First Instance, ……………………………… and of No. ………………/14-03-2023 excerpt of the above confiscation report of the same bailiff, pursuant to which the property described therein is exposed to a forced auction of open bidding type by electronic means on ………-10-2023 vertical property of the objector before the certified Notary of Ermoupolis ……………………., for the satisfaction of the referred to in the contested report and its excerpt, according to the particulars set forth in the objection. In addition, he requests that the defendant be ordered to pay his court costs and attorney's fees. With this content and requests, a deemed objection is admissibly introduced before this Court, which is competent in terms of content and place (articles 954 par. 4 and 933 par. 1,3 of the Civil Code), to be discussed during the interim measures procedure (686 ff. of the Civil Code) if it was filed on time at the Registry of this Court on ………..-2023, i.e. at least fifteen (15) working days before the day of the auction which will be held on ……………10-2023( article 954 par. 4 sec. b of the Civil Code). It is not, sufficiently certain, that the defendant's claims to the contrary are rejected, since all the required elements are included in the petition of the present opposition, i.e. the description of the disputed of the property, a clear report of the facts regarding the incorrect assessment of the commercial value of the property as well as a certain request (article 216 of the Civil Code), and legal, based on the provisions of articles 933, 954 par. 4, 992 et seq., 993 par. 2 and 176 of the Civil Code. Therefore, it needs to be further investigated in terms of substance
its validity. From the affidavit of the objector's witness …….., which was examined in the audience of this court (the defendant did not propose a witness for examination), from all the documents that the parties lawfully present and invoke, some of which are specifically mentioned in then, without, however, disregarding the evidentiary power of the others, as well as from the lessons of common experience that are taken into account ex officio by the Court (article 336 par. 4 of the Civil Code), the following are suspected:

By virtue of no. ………………… report
forcible seizure of property of the Judicial Bailiff of the district of the Court of Appeal
Aigiou, with the seat of the Court of First Instance of Syros,……….. and of the extract with number ………………
of the above confiscation report of the same bailiff, was seized with haste
per the objection, as manager of the company with the name of …………….., based in
Dublin Ireland (street……..with company registration number…….)which constitutes a special successor
of the anonymous banking company with the name…….. and the distinguishing title………., for the
satisfaction of the claim of the above special purpose company, in the amount of 236,969.65 euros, by
No. 13PD/2022 payment order of the Single Member Court of First Instance of Syros (like this
corrected by Act No. 48/2022 of the Single Member Court of First Instance of Syros) and is set forth
in forced auction by electronic means, on ……………..10-2023 and time 10:00 a.m. – 12:00
p.m., in front of the certified for conducting electronic auctions
notary public of Ermoupolis,………..,the one described in the seizure report and in
considered objectionable real estate of the objector, with estimated market value and price
first bid on the day of the auction the amount of 290,000 euros. Especially
exposed to electronic auction …………..[…]

[…] First bid price set by
the confiscation officer the market value of the property in question (detached house), such as this one
determined at the time of imposing the seizure, according to the 1-03-2023 report
valuation of the certified appraiser company…………… (A.M. Min. of Certified Homes
Appraisers-Legal Entities: 6) and specifically the amount of 290,000 euros. However, the
bailiff who imposed the seizure, as well as the aforementioned
appraiser only performed an external autopsy of the disputed property, while not taking into account
the interior of said confiscated vertical property. Furthermore, the objector
submits the architect-engineer's assessment report from 08-09-2023 and certified
appraiser………..(A.M. Ministry of Housing of Certified Appraisers:…..), according to which the market
value of the disputed confiscated property was estimated at 340,000 euros, minus the
regulation costs and the fine that will be required to be paid, in order to
settle the urban planning irregularities that the property displays. Especially in the above
appraisal report points out as an advantage of the vertical property the location of the building, which is within the limits of the coastal settlement of ……………. municipality's
Syros in Ermoupoli. Also, the area is suitable for both a first home and a holiday home, while tourist businesses, hotels, cafes and restaurants are active in this particular settlement. [...] In addition, from her visit to the confiscated property, the certified appraiser, …………… and a witness to the objector's proof, found that all the apartments of the building have a good orientation and view, while the quality of its construction on the outside is the usual From the combination of the above and taking into account the location of the property, the area, its use and condition as well as the conditions of the real estate market in the area and the general economic situation of the country, which reflects the willingness of interested or non-investors and prospective bidders, as well as the amount of the fine that the prospective investor may pay in order to settle the irregularities on the disputed property, it was assumed that the real and commercial value and the first bid price of the confiscated property should be set at the amount of three hundred twenty thousand(320,000) euros instead of the amount of 290,000  euros, determined by the valuation company and the bailiff. Also, it is likely that damage occurs to the objector from the difference in assessment .Consequently, the contested objection must be accepted in part as essentially valid, the confiscation report and its excerpt must be corrected, as specifically mentioned in the operative part of the present, and be imposed against the defendant the opposition part of the court costs of the objector, due to his partial defeat (article 84 par. 2 of Law 4194/2013 and articles 106,176,191 par. 2 of the Civil Code), as specifically defined in the order. of this, to post this decision on the same day as its publication on the website of auction publications of the Judicial Bulletin
Publications of the Legal Insurance Sector of the Single Self-Employed Fund (article 954 par. 4 section 3 of the Civil Code).

JUDGES opposition of the parties.
Partially GRANTS the application.
ORDERS the correction of no. ………………….. report of compulsory seizure
of immovable property, of the bailiff of the region of the Aegean Court of Appeal, with its registered office
Court of First Instance of Syros, …………, and subsequent to the no. ……………… excerpt of
as above report of forced seizure of the above bailiff, as to its value
of the objector's confiscated property described therein and the price of the former
offering this.
DEFINED as the value of what is described in the above report and in the reasoning hereof
of the objector's property, which is being put up for forced auction on …… October 2023 pursuant to the no. ……………………… report of forced seizure of the property
property of the bailiff of the region of the Aegean Court of Appeal, based at
Court of First Instance of Syros,………….., before the Certified Notary…………, which
posted by the aforementioned bailiff on the auction publication website
of the Bulletin of Judicial Publications of the Legal Insurance Sector of the Unified Fund
Independently Employed, in the amount of three hundred and twenty thousand (320,000) euros and the
price of the first offer in the same amount as above.
ORDERS the posting of this notice, under the supervision of the Court's secretariat, at
auction publication website of the Department's Judicial Publications Bulletin
Legal Insurance of the Single Self-Employed Fund.
IMPOSES at the defendant's expense the objection, the court costs of the objector, which he determines
in the amount of two hundred and fifty (250) euros.
ADJUDGED, DECIDED AND PUBLISHED in Syros, at an extraordinary public meeting in
his audience, on 16-10-2023 without the presence of the parties and the attorneys
their lawyers, and with the collaboration, for the publication, of the secretary ………………
…………… ……………….

Thomas Steph. Summer 

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