Caixa: property auctions will have up to 95% discount – 11/02/2023 – Market

Caixa Econômica Federal will hold three extrajudicial auctions of more than 780 properties with discounts of up to 95% of the appraised value. Among the offers are houses, apartments, land and commercial spaces with starting bids between R$1,640 and almost R$2 million.

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

Lawyers specializing in real estate law consulted by Sheet state that it is necessary to carry out your own research into the history of the property of interest and be careful when dealing with bureaucracy after the auction.

The first phase of the auction has more than 250 opportunities in 20 states and the Federal District. In the second and third phase, 259 and 268 properties are available respectively.

All properties available for auction have discounts of up to 95% on the value assessed by the property market. The auctions will be held online and the first phase will accept bids until November 7th, at 10am.

To check the complete list with details of the properties to be auctioned in this first auction, simply click on this link.

WHAT ARE THE PROPERTY AUCTION DATES?

Extrajudicial auctions are organized by Fidalgo Leilões, which acts as an intermediary between the current owner of the properties, in this case Caixa, and those interested in the goods offered. All competitions will be held online.

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

The second continues accepting bids until November 17th, at 10:00 am, with the result announced on December 1st. For more information about this auction, just click this link.

The third one runs until December 5th, at 10 am and publishes the results on December 19th. For more information about this auction, just click this link.

WHO CAN PARTICIPATE IN PROPERTY AUCTIONS?

• People over 18 years old;
• People under 18, as long as they are emancipated;
• Legal entities domiciled or established in the national territory

Persons who:

• Caixa Manager, their spouses, partners or third degree civil relatives;
• Authority of the public entity to which CAIXA is linked
• Individual Microentrepreneur (MEI)
• 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.

WHAT ARE THE PAYMENT OPTIONS OFFERED BY AUCTIONS?

Payment conditions, depending on the property, may be cash payments (own resources), FGTS resources or financing granted by Caixa. In these cases, the interested party must contact a Caixa branch before the auction to obtain the approved letter of credit.

The person who places the highest bid pays, at the time of the bidding session, the value of the auctioneer’s commission, corresponding to 5% of the total value of the winning proposal and which is not part of the value of the bid 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.

WHY ARE PROPERTIES GOING UP TO AUCTION?

According to Fidalgo, the majority of properties offered at auctions were repossessed 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, in cases of cash acquisition.

Nicolas Paiva, lawyer at Silveiro Advogados, states that purchases made at auctions are safe acquisitions 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 can be recreated on it, 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 5 years and to carry out the assessment of any debts owed to the property.

The auction winner is solely responsible for expenses with:

• ITBI (Tax on the transfer of real estate)
• Laudêmio and rescue of tenure
• Personal consumption bills, such as water, energy and gas, regardless of whether linked to the property or the contractor’s CPF/CNPJ
• Related to the writing of 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, vacating is at the expense of the bidder.

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 is occupying the property.

“This is the main care, 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.