Caixa and Santander property auction runs until this week – 12/04/2023 – Market

Caixa Econômica Federal and Santander end this week sending proposals for their property auctions, which include residences and land. The units offered are available in most states in Brazil.

Caixa accepts bids until this Tuesday (5), at 10am. Santander closes the sending of proposals until this Monday (4), at 2 pm.

The offers include houses, apartments, land and commercial spaces with starting bids between R$10,000 and more than R$1.7 million. Most residential properties are occupied and it is necessary for the person who wins the auction to take care of the entire vacancy process.

Caixa Auction has opportunities in 21 states

There are units in most states, especially in Goiás, but there are also options in São Paulo, in the capital region, in the interior and on the coast.

Among the properties located in the capital of São Paulo is an apartment in Cambuci measuring 57 m², with two bedrooms with a starting bid of R$150,658.80. On the coast, a house located in Santos (SP) with 58 m² of private area and two bathrooms starts at R$228,595.50.

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

• North: one property in Amazonas, one in Mato Grosso and 15 in Pará
• Northeast: two in Alagoas, eight in Bahia, seven in Ceará, one in Maranhão, four in Paraíba, seven in Pernambuco, one in Piauí and 12 in Rio Grande do Norte
• Central-West: one in the Federal District, 51 in Goiás and two in Mato Grosso do Sul
• Southeast: 41 in São Paulo, 39 in Rio de Janeiro, 30 in Minas Gerais and one in Espírito Santo
• South: seven in Paraná, 37 in Rio Grande do Sul and five in Santa Catarina

According to Fidalgo Leilões, the majority of properties were repossessed due to non-payment of financing and condominium fees. The extrajudicial auctions are all online and organized by the company Fidalgo, which acts as an intermediary between the current owner of the properties, in this case Caixa, and interested parties.

Santander Auction has houses and apartments on the coast of São Paulo

There are 167 residential properties and land distributed in several states. Offers for houses, apartments and land have initial bids between R$10,000 and R$780,000. The minimum increase per bid varies depending on the property.

The list with details of the properties in this lot can be consulted at this link.

Among the units in São Paulo is an apartment in Liberdade measuring 61 m², with an opening bid of R$110,000. There is also a 143 m² apartment in the Morumbi region, with four parking spaces and a starting bid of R$345,000.

On the coast, there is an apartment in São Vicente (SP) measuring 71 m², a 15-minute walk from the beach, with an opening bid of R$110,000. There is also a 611 m² house in Guarujá (SP), with two rooms, three balconies and a swimming pool — the starting bid is R$560,000.

Why are properties going up for auction?

Much of it was recovered due to debts related to IPTU (Urban Property and Territorial Tax), condominium fees and financing.

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

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 well 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 the bank’s responsibility is up to 90 days, counting from the end of the acquisition process via auction. For debts collected in court, the bank assesses whether the payment is up to it and is responsible for paying off 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, evacuation 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.”

What payment options do auctions offer?

Depending on the property, they can be paid in cash (own resources), resources from the FGTS (Service Time Guarantee Fund) or with financing. In these cases, the interested party must contact the bank before the auction to obtain approval of the letter of credit.

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.