Auction da Caixa has 95% discount on properties in SP; see – 11/06/2023 – Market

Caixa Econômica Federal closes this Tuesday (7), at 10 am, the first phase of the extrajudicial auction with more than 250 properties with discounts of up to 95%. The majority of units offered — 33 in total — are in the state of São Paulo. There are opportunities in Greater São Paulo, in the interior and on the coast, but there are no properties in the capital of São Paulo.

Among the offers are houses, apartments, land and commercial spaces with starting bids between R$1,640 and almost R$2 million. To check the complete list with details of the properties to be auctioned in this first auction, simply click on this link.

Among the properties located in São Paulo is an apartment in Guarulhos (Greater SP) measuring 40.36 m^two, with two bedrooms with space with barbecue, playground and party room, with an opening bid of R$138 thousand; a 50.2 m² house with a 126.7 m² plot located in Mongaguá (SP) with an opening bid of R$69.7 thousand; and an apartment in Cotia (SP) with 108.71 m^two in a condominium with leisure rooms and sports court.

The properties are distributed across all regions of Brazil, including:

• North: five properties in Amazonas and 15 in Pará

• Northeast: three in Alagoas, three in Bahia, 12 in Ceará, one in Maranhão, six in Paraíba, seven in Pernambuco, one in Piauí, eight in Rio Grande do Norte and four in Sergipe

• Central-West: three in the Federal District, 29 in Goiás and two in Mato Grosso do Sul

• Southeast: 33 in São Paulo, 46 ​​in Rio de Janeiro, 21 in Minas Gerais and four in Espírito Santo

• South: 15 in Paraná, 36 in Rio Grande do Sul and seven in Santa Catarina

According to Fidalgo Leilões, the majority of properties were repossessed due to non-payment of financing and condominium fees. Last Thursday (26) the STF (Supreme Federal Court) authorized banks to repossess properties from debtors without a court decision.

The extrajudicial auctions are all online and organized by Fidalgo Leilões, which acts as an intermediary between the current owner of the properties, in this case Caixa, and interested parties.

The auction accepts bids until November 7th, at 10 am and the final and approved results will be published on November 22nd.

Two other auctions will be held with more than 500 properties.

The second event accepts bids until November 17th and for more information about this auction, click on this link. The third one runs until December 5th and other information about the units can be found at this link.

Who can participate in property auctions?

• Interested parties over 18 years old;

• Minors under 18, as long as they are emancipated;

• Legal entities domiciled or established in Brazil

Participation in Caixa auctions is prohibited:

• Caixa Manager, their spouses, partners or third degree civil relatives;

• Authority of the public entity to which Caixa is linked

• MEI (individual microentrepreneur)

• Caixa employees who work at Suotc, Gesec, Cemab, Ceven, Sumob, Geope, Ceope/RE, Ceope/SP, Suadi, Gegad, Cesav, Sulog, Geinf, Suhab, Gehpa, Gehab, Gihab and Cihar

Why are properties going up for auction?

According to Fidalgo, the majority were taken over by Caixa due to debts related to IPTU, condominium fees and financing.

In these cases, Caixa is responsible for paying the expenses that fall on the property, as long as they are not prescribed and proven by the date of signing the contract, in cases of purchase with financing, and for paying the total purchase price, if the acquisition is made in plain sight.

Nicolas Paiva, lawyer at Silveiro Advogados, states that purchases made at auctions are safe due to the technical procedures of the process.

“It is a very well-established procedure legally, but it is important that those interested in the property analyze it carefully to ensure that there will be no setbacks, check the registration number to understand what debts may fall on them, the origin of the property and other precedents that may not be in the calculation when making the bid”, he says.

The deadline for paying debts under Caixa’s responsibility is up to 90 days, counting from the end of the acquisition process via auction. For debts collected in court, Caixa assesses whether the payment is up to it and is responsible for paying the total debt in the event of the property being condemned.

It is the buyer’s responsibility to request the write-off of prescribed debts from the municipality, debts due for more than five years and to survey any debts incurred on the property.

The auction winner is solely responsible for expenses with:

• ITBI (Tax on the Transfer of Real Estate)

• Laudêmio and redemption of tenure, if applicable

• Personal consumption bills, such as water, energy and gas, regardless of whether linked to the property or the contractor’s CPF/CNPJ

• Expenses related to drawing up the deed

• Required guides, declarations and documents, any registration updates and endorsements at city hall

• Cancellation of any liens on the property

In situations where the property is occupied, the vacancy is the responsibility of whoever wins the deal.

Ricardo Trotta, a lawyer specializing in real estate law, states that, in these cases, it is important that anyone interested in the property visits the location and researches to see if anyone lives there.

“This is the main precaution, if the property is occupied, if you are a renter or the previous owner of the property and the new owner can only claim possession and vacate the property after the auction process has been completed,” he says.

What payment options do auctions offer?

Payment conditions, depending on the property, may be by cash payment (own resources), resources from the FGTS (Service Time Guarantee Fund) or with financing granted by Caixa. In these cases, the interested party must contact a Caixa branch before the auction to obtain approval of the letter of credit.

The person with the highest bid pays during the bidding session. The value of the auctioneer’s commission corresponds to 5% of the total winning bid and is not part of the bid amount offered.

It is not permitted to change the total value of the property acquisition proposal or make bids in which the interested party’s own resources are less than 5% of the value of the proposal made.