Banco Ciudad presents the first auction of the year for properties with vacant inheritances, which is carried out on behalf and order of the Attorney General of the City of Buenos Aires. On March 29, from 10 am, 7 lots consisting of departments and a commercial premises will be released online, all in the City of Buenos Aires and whose base and sale prices are in pesos.
They go to auction and are located in the neighborhoods of Palermo, Recoleta, Belgrano, Caballito and Flores. There are apartments from one to four rooms, and also a commercial space in a gallery.
Among the properties that are auctioned are:
- A mono ambiente apartment located on Beruti street corner Bulnes; with separate kitchen and bathroom. It features a French balcony. Base Price: $6,580,000.
- A two-room apartment located in Marcelo T. de Alvear 1275 floor 8 “80″. It consists of a living room, a bedroom, bathroom and kitchen. Base Price: $10,251,000.-
- A four-room apartment in Juramento 3076 Floor 14° C. It has a living room, balcony, three bedrooms, kitchen, laundry room, bathroom and toilet. Base Price: $20,435,000.-
- An apartment located in Coronel Ramón Falcón 2401 Floor 5° C. It consists of a living-dining room with access to balcony, kitchen, hallway, two bedrooms and bathroom. Base Price: $10,452,000.
- A two-room apartment located in Ciudad de la Paz 1701 Floor 5 C. It has a living room, balcony, bedroom, kitchen and bathroom. Base price: $9,380,000.
- A commercial premises located in Caracas 63 PB. It has two fully glazed fronts. Base price: $5,226,000.
- A functional three-room unit located in Hualfin 816 Floor 8. It consists of an access hall, three bedrooms (one of them with semi-covered space), kitchen, daily dining room-laundry room, bathroom and terrace. Base price: $16,683,000.
“The new online mode of public auctions launched at the beginning of 2020 presents great dynamism in the real estate sector in general, reaching an effectiveness of more than 90% for properties offered in national currency, and more than 50% for units in dollars,” stressed the bank. He added that during 2021, 40 properties were sold at auction for vacant inheritances, for a total of almost 393 million pesos.
Those interested in making bids must register up to 48 business hours prior to the start of the auction. Meanwhile, the participation requires a guarantee deposit of 3% of the base value of the property to be purchased (amount that will be returned in full in the event of a non-bid or if the bid does not win within seven working days after the auction).
In addition, an address in the Autonomous City of Buenos Aires and an email must be provided, which shall be indistinctly valid for all legal purposes arising from this auction.
Those who wish to participate must have an electronic device such as a tablet, notebook, PC, smartphone or similar with WIFI connection.
They will also have to register as a user through Self-Management at https://subastas.bancociudad.com.ar/. Subsequently, they must enter the interest auction, read terms and conditions of sale and then make the transfer of the amount of surety that enables them to participate. And then, the person will receive an enablement email to be able to bid.
According to the bank, on the date and time indicated, the application of bids will begin through the portal (https://subastas.bancociudad.com.ar/). In addition, bids must be made only through the auction site.
Each bidder may make the number of bids it deems necessary until it is successful or exceeded, during the duration of the public auction. In this sense, the same bidder may make more than one offer for the same good, with the highest value always prevailing.
According to the bank, all offers made are irrevocable and irretractable. While offers cannot be cancelled and/or cancelled under any circumstances, being rejected only when they are overtaken by another bidder.
“Each bid formulated during the bid must exceed the previous bid, whether it is its own or that of another bidder, for an amount not less than $10,000,” the entity explained.
Within 48 working hours after the auction (immediately upon completion the winner receives an email with notification of the award of the lot), payment of 10% of the sale price must be made as a sign and 3% corresponding to the commission plus VAT.
“Once it has been received, the funds secured under guarantee are returned. The total integration of the balance will take place within the deadlines that take the deed times which will be led by the Procurator's Office”, clarified the bank.
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