Buenos Aires Administration actions off a range of residential, deceased estates which have no heirs

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First auction of the year of homes without heirs in CABA with the offer prices with which they go on sale

Most properties are apartments with a base value starting at $35,000. How to participate in the virtual auction

Several Buenos Aires properties without heirs are auctioned online at bargain prices on May 8.

Banco Ciudad offers savings investors an opportunity to invest in properties through an online auction. The Buenos Aires credit institution has set its first virtual auction of the year, featuring six properties without heirs, for May 8 starting at 10 a.m.

On this occasion, 5 apartments of 1, 2, and 3 rooms are offered, as well as a block property with premises on the street and housing located in the Buenos Aires neighbourhoods of Belgrano, Constitución, Nueva Pompeya, Devoto, Barrio Norte, and Balvanera. 

The auctions of real estate with vacant inheritances located in the city of Buenos Aires are carried out at Banco Ciudad on behalf and by order of the Buenos Aires Attorney General’s Office and are characterized by the diversity of properties, which can include lots, apartments, townhouses, houses, offices, commercial premises, undivided parts and garages. 

The bank carries out the appraisal, exhibition, and sale by public auction through online auctions, which are 100% digital, through an agile and secure platform that promotes accessibility, expanding the participation of interested parties throughout the country. The income obtained from auction sales goes to the Permanent Educational Fund.

The successful bidder may request possession and pay the balance of the price in advance after signing the purchase ticket.

The catalog of the next auction is available online (https://subastas.bancociudad.com.ar). Interested parties must register up to 48 business hours before the start and participation requires a guarantee deposit corresponding to a percentage of the base value of the property to be acquired (amount that will be returned in full in the event of no bid or if the offer is not is a winner). 

How does electronic bidding work?

On the indicated date and time, the application of offers will begin through the bank’s portal.

Bids must be made only through the auction site.

One of the homes going up for auction in the Villa Devoto neighbourhood

Each bidder may make the number of bids necessary until it is awarded or exceeded during the public auction.

The same bidder may make more than one offer for the same good, with the one with the highest value always prevailing. All offers are irrevocable and not retractable. Offers cannot be annulled and/or cancelled and will only be rejected when surpassed by another offeror. During the procedure, offerors will be able to observe in real time the evolution of the offers made in amount and position.

Each offer made during the bidding must exceed the previous offer, whether its own or that of another bidder.

Success Bidder Action

Once the auction has been carried out and each property has been awarded, the buyer will make the corresponding payments in Argentine pesos, in accordance with the price of the BNA seller-type dollar bill, according to the conditions of sale of each property found on the City Bank’s Auctions website.

The funds secured as a guarantee will then be returned. The total balance integration will be carried out within the deadlines established by the writing times, which will be led by the Attorney General’s Office.

Procedure to participate

  1. Those interested must have an electronic device with a WIFI connection, tablet, notebook, PC, smartphone or similar.
  2. Register as a user on the website in “Login” (the credentials are the same as those for Self-Management).
  3. Entrance to the Auction of interest.
  4. Read the conditions of sale.
  5. Transfer the security amount that enables you to participate.
  6. Receive the authorization email to bid.

A two-room apartment will be auctioned at this property located in Belgrano.

The properties of the first auction of 2024

Below are details of the properties that will be auctioned on May 8.

 September 11, 1888, in Belgrano: 2-room apartment. Surface: 34.14 square meters. Base: USD 73,947; security deposit: USD 2,218; finishing time 10 hours. Exhibition: April 23 from 9 a.m. to 12 p.m.

– Carlos María Ramírez 1567, in Nueva Pompeya: Block unit made up of premises on the street and housing behind. Surface: 364 m2. Base: USD 118,970; security deposit: USD 3,569; auction time: 10.45. Exhibition: April 24 from 9 a.m. to 12 p.m.

 United States 1198, in Constitution: Department of 1 environment. Surface: 33 m2. Base: USD 35,705; security deposit: USD 1,071; auction time: 11.30. Exhibition: April 25 from 9 a.m. to 12 p.m.

 Pedro Morán 3359, in Villa Devoto: 3-room apartment. Surface: 58.18 m2. Base: USD 92,891; security deposit: USD 2,786; auction time: 12.15. Exhibition: April 26 from 9 a.m. to 12 p.m.

– Marcelo T. de Alvear 1270/76, in Barrio Norte: 2-room apartment. Surface: 39 m2. Base: USD 66,847; security deposit: USD 2,005; auction time: 13. Exhibition: April 29 from 9 a.m. to 12 p.m.

 Paso 466/94, in Balvanera: 1 room apartment. Surface: 36 m2. Base: USD 43,737; security deposit: USD 1,312; auction time: 1:45 p.m. Exhibition: April 30 from 9 a.m. to 12 p.m.

Source: La Nation mechanical translation)

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