The online auction of vacant properties in Buenos Aires not only represents a unique investment opportunity, but also contributes significantly to the financing of education through the Educational Permanent Fund.
The sale is subject to the approval of the selling entity, meaning that the Attorney General’s Office must authorize each auction transaction.
The Attorney General of the City of Buenos Aires made a public announcement in which he calls for a online auction of various properties located in CABA. This auction is organized by that organization and will be carried out through the City Bank portal.
“The properties to be auctioned are located in the City of Buenos Aires and are part of the inventory of vacant inheritances (properties without known heirs)”, states the text.
Auction details
Date and Time: The auction will take place on November 29, 2024starting at 10:00 a.m..
Platform: It will be an online auction carried out through the Banco Ciudad portal.
Property Listing: A list is included with details of each property such as address, square footage, showing dates and base prices.
Requirements to Participate
- Pre-registration:
- Those interested in participating must register up to 48 business hours before the auction.
- Registration must be carried out in accordance with what is indicated in the point 5 of the Conditions of Sale.
- Warranty:
- It is necessary to establish a guarantee equivalent to 3% of the base value of each property.
- The guarantee must be deposited in Argentine pesos and is calculated using the exchange rate of the US dollar as the selling price of the Banco de la Nación Argentinaeffective at the close of the business day prior to the creation of the guarantee.
- The guarantee must be constituted until 48 business hours before auction date (see point 5 of the Conditions of Sale).
Payment method and method
- Initial Payment: The buyer must make a 10% down payment of the value of the property.
- Commission: A required commission of 3% plus VAT.
- Payment Term: Both payments (initial and commission) must be made in a maximum of two business days after the electronic pre-award notification.
- Payment Method: Payments will be made only by electronic bank transfer (see point 6 of the Conditions of Sale) in Argentine pesos, using the exchange rate of the US dollar as the selling price of the Banco de la Nación Argentina, in effect at the close of the business day prior to the auction.
Contact and Additional Information
Approval Clause
The sale is subject to approval of the selling entitythat is, the Attorney General’s Office must authorize each auction transaction.
Lastly, this announcement details an online auction process for properties without heirs in Buenos Aires. The auction is aimed at raising funds for the Permanent Educational Fund.
Interested parties must complete a pre-registration and provide a guarantee before the auction. If they are winners, they must make an initial payment and the commission within two business days after the pre-award notification.
Source: Ambito
