Real estate auctions always arouse interest for those who today can try to dream of owning a house only if listed and paid for in pesos. As usual, Banco Ciudad handles the auctions for used houses that have no heirs.
The opportunity is not just for them to be sold in local currency, but for them to go out in general much lower values compared to those found in the real estate market.
The auctions of vacant inheritance properties of Banco Ciudad are organized on behalf and by order of the Attorney General of the Government of the City of Buenos Aires, with the aim that these houses located in the Buenos Aires district can be sold through a mechanism open to the whole community. As established by Act 52 of the CABA Legislature, Part of the funds obtained must be invested in public education.
The next auction will be held on April 26, 10 properties between apartments with 2, 3 and 4 bedrooms, and a PH, scattered in Barrio Norte, Belgrano, Caballito and Villa del Parque, and in other parts of the city. In this case interested parties can register up to 48 hours before the start of the auction.
North Quarter. Av. Pueyrredón 1748, in CABA: 4-room apartment, with a surface area of 155.23 m2. Base: $65,995,000.– Security Deposit: $1,979,850.- Auction Time: 10:00am
Sarandí 436/38, CABA, between the neighborhoods of Balvanera and Monserrat: PH on the ground floor, basement and mezzanine, with an area of 159.96 m2. Base: $24,656,000.- Security Deposit: $739,680.- Auction Time: 10.45am
Horse, San José de Calasanz 403, CABA: 3-room apartment, with an area of 83.47 m2. Base: $24,120,000.- Guarantee Deposit: $723,600.- Auction Time: 12:15pm
Monte Castro, Joaquín V. González 2180, CABA: 2-room apartment, with an area of 47.83 m2. Base: $22,700,000.- Escrow Deposit: $681,000.- Auction Time: 3:15pm
Villa del Parque, Cuenca 3244/46/48/50, CABA: 3-room apartment, with an area of 55.08 m2. Base: $20,660,000.- Escrow Deposit: $619,800.- Auction Time: 4:45pm
Belgrano, Av. Cabildo 250, CABA: 2-room apartment, with an area of 49.21 m2. Base: $19,100.000.- Security deposit: $573,000.- Auction time: 1pm
North Quarter, Callao 1232/34/36, CABA: Professional studio with 2 rooms, with an area of 52.40 m2. Base: $15,812,000.- Escrow Deposit: $474,360.- Auction Time: 1:45pm
Villa Riachuelo, Canada de Gomez 4805, CABA: 3-room apartment, with an area of 89.02 m2. Base: $15,100,000.- Security Deposit: $453,000.- Auction Time: 11.30am
Villa del Parque, Francisco Beiró 3358/64, CABA: 2-room apartment, with an area of 30.63 m2. Base: $13,200,000.- Escrow Deposit: $396,000.- Auction Time: 2.30pm
Horse, Yerbal 701/39, CABA: 2-room apartment, with an area of 29.76 m2. Base: $10,320,000.- Escrow Deposit: $309,600.- Auction Time: 4:00pm
The online mode of these public auctions launched at the beginning of 2020, in the midst of the pandemic, has streamlined the methods of participation, reaching an effectiveness of over 90% for properties offered in national currency, and over 50% for units in dollars.
Results of the previous auction
According to the results presented by the bank on the auction held on March 23, of the 10 properties put up for auction, 3 came out at the same value; and four were sold above their floor price, and the rest were left without bidders.
To participate, interested parties must provide an address in the Autonomous City of Buenos Aires and an email, which will be valid for all legal effects arising from this auction.
Bids must be made exclusively through the auction site: https://subastas.bancociudad.com.ar/
Each tenderer may make as many offers as he deems necessary. until awarded or exceeded, during the duration of the public auction.
The same bidder can submit multiple bids for the same good, always the one with the highest value prevailing.. All offers made are irrevocable and unchangeable.
Bids cannot be canceled and/or canceled under any circumstances, being rejected only when outbid by another bidder. During the procedure, the bidders will be able to observe in real time the evolution of the bids made, by amount and position.
Each bid made during the auction must exceed the previous bid, whether by yourself or by another bidder.
Then, within 48 working hours of the auction (immediately after the end of the auction, the winning bidder receives an email notification of the lot award), the payment of 10% of the sale price must be made as a deposit, and 3% corresponding to the commission plus VAT.
Received the same, the guarantee funds are returned.
Step by step, how to participate in the auction
- Interested parties must have an electronic device such as a tablet, notebook, PC, smartphone or similar with a WIFI connection.
- Register as a user on https://subastas.bancociudad.com.ar/, in “Login session” (the credentials are the same as for Self-management).
- Participate in the auction of interest on https://subastas.bancociudad.com.ar/ 4. Read the conditions of sale.
- Make the transfer of the amount of the title that allows you to participate
Received the authorization email to be able to bid.
Charles Arterburn is a seasoned business journalist for News Rebeat, where he provides comprehensive coverage of the latest trends and developments in the world of finance and economics.