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How to buy an auction house? Is there any legal procedure that must be followed to be able to buy a property in an event such as an auction? What are the types of houses that are auctioned by large finance companies, such as Caixa Econômica Federal? How much does a house cost at auction?
Many people have the own house dream always very vivid. This is even more true when we talk about Brazilians, who have dreamed of owning land, their own house or even an apartment since they were little. This statement becomes a maxim mainly among those who have always paid rent.
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However, with the incredibly inflated real estate market, it is natural that the dream becomes increasingly difficult to achieve. People are afraid of starting a loan and not being able to pay, or of buying a house and running out of money. Still, there is an amazing option: auctions.
In today's content, we are going to tell you how to buy auction house, in addition to explaining how an event of this type works and how you can participate to purchase your property. Therefore, if you want to know how to buy an auction house, we recommend that you follow us to the end of the content for more details. Come on, read with us!
Why is a house auctioned?
Before knowing how to buy an auction house, you need to understand how a property ends up being auctioned, after all, this is the reason that takes the property to the event in question. Basically, the land, houses and apartments that are auctioned are those that have been financed and not fully paid off.
In this way, seeking a way to be compensated, the finance companies file a debt renegotiation action. Then, if there is no response from the person, or if the person simply cannot pay, the attachment process begins, which finally culminates in the execution of the same based on the fiduciary alienation made.
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Fiduciary alienation, for those who don't know, is when you finance a good and use it as collateral for that financial transaction. Thus, if you do not pay it, you must return it to the creditor who bought it for you. It is at this moment that many properties come up for auction, after all, creditors still want to make money to reduce the size of the default.
Auction property features
Although many people have a bad image of auctions, they are not all bad. But why? Because here we are not talking exclusively about broken down vehicles that are being auctioned off as scrap: we are talking about properties in perfect condition, but which have not been fully paid for.
So, the main characteristic of a auction is this: being “rifled” for non-payment. Next, we can mention that many of these properties are still under construction: this is the example of the Minha Casa Minha Vida program houses, which are no longer paid at the beginning of the financing.
With the lack of payment, the work stops, the process of attachment and execution of fiduciary alienation begins. Finally, the property is auctioned even in the construction phase. But, of course, many of the auction properties are fully furnished, even furnished.
How to buy auction house?
But after all, how to buy an auction house? Well, the process is simpler than you might think. Below, we leave a step by step explaining to you what should be done. Read with attention:
- First, find the desired auction;
- There are many real estate finance companies on the market, and one of the most sought after is the Box Auction, which has even received exclusive content here on our website;
- Then register for the auction if it is physical, otherwise, just enter the online auction through the videoconference link;
- Soon after, start your bids until you are the last one to try the finish;
- With the house already auctioned, pay the amount to the auctioneer, complete the transfer procedures and that's it, the property is yours.
This was our guide on how to buy an auction house. As we can see, it's simpler than it looks. If you still have any doubts about the subject, just leave your
