Caixa will hold three property auctions with up to 95% discount

Caixa Econômica Federal will hold three extrajudicial auctions at the end of the year. There are more than 780 properties with discounts of up to 95%. There are houses, apartments, land and commercial units.

The initial bids will be between R$1,640 and almost R$2 million, according to Folha de São Paulo. The auctions will be held online with options in several states, in addition to the Federal District.

Last week, the Federal Supreme Court (STF) authorized banks to repossess properties from debtors without a court decision.

Proposals are made directly on the auctioneer’s website which, in these extrajudicial auctions, are being organized by Fidalgo Leilões. According to the company, consulted by Folha, the properties on the list were repossessed due to default on financing and condominium fees for the most part.

Before “hitting the hammer”, it is important to check the necessary documentation as well as the payment dates and the situation of the property that may have IPTU, financing or condominium debts. And what are the payment conditions and rules for acquiring the property.

The first auction, with more than 250 units, accepts bids until November 7th, at 10am. The result and approval will take place on November 22nd.

For the second, offers for the 259 available properties can be made until the 17th, at 10 am. The answer will be released on December 1st.

In the third, the dates are December 5th and 19th, respectively. In the last wave there will be 268 properties.