Why auction buyers are often surprised after the deal
Many people buying property at auction for the first time put only one number in their budget — the winning bid. But the final amount to be paid is usually 10–20% higher. This is the standard reality of the Lithuanian property market, which is important to know before auction day.
Below is a realistic list of costs with specific figures based on currently applicable Lithuanian norms.
Costs that must be included in every budget
Notary fee. Sale-purchase agreements for real estate must be certified by a notary. For transactions up to €100,000 this is typically €380–500; for €100,000–500,000 transactions — approximately 0.3–0.6% of the value (e.g. for a €200,000 flat — approximately €800–1,200). For high-value transactions the percentage is lower.
Register Centre. Re-registering ownership costs €100–200, depending on the property and municipality. This is a mandatory cost in any property transaction.
Property valuation report. If you plan to finance with a bank loan, the bank will require an independent valuer's certificate. A flat in Vilnius or Kaunas — typically €200–300; a house up to 300 m² — €300–500.
Property insurance. Most banks require property insurance as a credit condition. In the first year this is typically €100–300.
Auction commission — the cost easy to overlook
This is often the largest additional cost that first-time buyers rarely think about. Most auction organisers charge 5–10% of the final winning price. This means that for a €100,000 property you may pay an additional €5,000–10,000.
Important: this fee differs depending on the organiser — Turto bankas, notary auctions and private auction houses apply different rates. Before participating you must read the specific auction rules.
The participant registration fee (separate from the commission) is usually €30–100 — non-refundable regardless of the outcome.
Utility debts and property tax from 2026
When buying property at auction, especially seized or long-unused property, it is worth checking utility debts in advance. On average they can amount to €500–5,000 for a flat. This information should be available through the Register Centre or directly from the organiser.
From 2026 a new property tax system came into force in Lithuania. The primary residence up to €450,000 in value — 0% tax. A second or investment property from €50,000 — 0.2–1% per year. If investment property is purchased at auction, this tax should be included in long-term calculations.
Renovation reserve — the most important number
Property sold at auction often has condition problems: long unused, unrenovated, or sold "as is". A realistic renovation reserve for such properties can reach 10–30% of the purchase price. For a flat purchased for €80,000 this can mean an additional €8,000–24,000 of investment.
Before the auction, if permitted, view the property and assess its condition. If viewing is not possible — automatically add a conservative renovation reserve to the budget.
General practical rule: add 15–25% to the winning auction price for additional costs. If the deal still looks attractive — then it really is a good opportunity.