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O Bank of Brazil auction it is an event like any other, however, organized and made available through the most traditional mixed economy banking institution in the whole country: Banco do Brasil. But how do these auctions work? Who can attend these events? What is the average price of a movable or immovable asset in the Banco do Brasil auction?
Buying a car or property these days is getting more and more complicated. Due to the pandemic that started in 2020 and brings problems to the present day, the automobile sector was largely affected, with problems in 0 km car production due to lack of enough parts to meet the demand of automakers.
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Thus, as a way to contain the drop in internal cash, these same automakers inflated vehicle prices in such a way that many do not even consider buying brand new cars. On the other hand, the real estate sector has been the one that has grown the most for decades, with simple land in quiet towns exceeding 300 thousand reais.
Therefore, it is necessary to look for a way to save money when buying your property, be it a vehicle or a property: auctions are among the best options. In today's content, we are going to explain to you how the Bank of Brazil auction and how you can participate. Want to know more about it? So read until the end of the matter. Let's go!
What is the BB Auction?
But after all, what is the Bank of Brazil auction? This is an event formalized and proposed by Banco do Brasil, which does so in an attempt to be reimbursed for possible defaults that it has taken from those who applied for financing, whether for real estate or vehicles.
In this way, it is possible to find good cars, land, motorcycles, apartments, trucks, houses and much more in auctions held by Banco do Brasil. The best thing about this is the price, which is always well below the real value of the good being sold, as we will see a little later.
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How to participate in the Banco do Brasil auction?
But, and how to participate in the Banco do Brasil auction? Well, it's very simple. All you have to do is go to the bank's official website, search for notices of auctions that are in progress or are yet to open, copy the link to the videoconference, show up at the correct date and time, place your bids and win based on what you want.
Thus, you can auction off vehicles or properties that are auctioned by Banco do Brasil. As we can see, it's a very simple process: the only requirement is to be of legal age, that is, to be over 18 years old.
How much do goods cost at the Banco do Brasil auction?
You must also be curious to know the amounts charged for a good at the Banco do Brasil auction, right? Well, about the prices, know that they are well below what you might think, especially the beaten cars. Often, a simple crash that will cost around R$7,000.00 to fix, lowers the price of the car by almost R$25,000.00 (or more).
In general terms, the “rule” (in quotation marks because it is not a true rule, but a mathematical estimate) of 40% is used. It is estimated that any good, be it a vehicle or property, is sold for a value of 40% to 60% of its market value.
In the case of cars, the market value is the one shown in the FIPE table. Thus, if a car costs R$100,000.00, in a auction Banco do Brasil can be bought between 40 and 60 thousand reais. The rule also applies to properties financed by Banco do Brasil, whether land, houses or apartments.
Thus, it is an economy that varies a lot downwards, making the purchase worthwhile. Another practical example is if this 100,000 car is crashed. Depending on the size of the crash, this vehicle can be worth less than 10 thousand reais (irreversible cases) or 20-30 thousand reais in cases where the vehicle can still be recovered.
This was our guide to the Banco do Brasil auction. We hope that we have cleared all your doubts on the subject, and that you will be able to participate in the Banco do Brasil auction without too many difficulties. If you still have any, comment below and we'll get back to you as soon as possible. To the next!
