posted on 04/18/2022 05:54 / updated 04/18/2022 05:55
(credit: Lucas Pacífico/CB/DA Press)
Auctions can be good business opportunities. In addition to the possibility of acquiring a property up to 80% cheaper than the value practiced in the market, the expectation is that the newly acquired property will appreciate in value, considering that apartments, houses and commercial properties offered in this modality still have little time to use. But it is necessary to take into account all the risk added to the purchase of a good offered by this type of sale, such as, for example, whether or not it is occupied and whether there are debts associated with the good.
Currently, Banco do Brasil offers 3,100 properties for sale via auctions, while Caixa has around 400 units for sale, both with offers in all regions of the country. While BB offers discounts of up to 80% on high-end properties – with values of up to R$ 28 million – Caixa offers discounts of up to 60%. for amounts that start at R$ 14.4 thousand and reach R$ 24.8 million.
“The virtual negotiation and relationship space is a reality that offers convenience and benefits to consumers, which is why Banco do Brasil is inserted in this context and always seeks to keep up with advances in possibilities to provide its customers with an excellent experience, also in the real estate acquisition process”, says Rodolfo Barros, BB’s executive manager.
Among the points presented as an advantage is the user’s online shopping experience, which is increasingly a key factor for the success of a sales initiative. “On the Seu Imóvel BB platform, consumers can count on total transparency, security and agility in the acquisition of a property”, emphasizes Igor Freire, CRO of Resale, the company responsible for the auctions.
Among the disadvantages, however, is important information, often overlooked in ads. Of the 3,100 properties put up for auction by Banco do Brasil, for example, only 170 of them are unoccupied. Thus, there is no guarantee that the occupants will be removed from the property immediately after the purchase, much less that the buyer will be able to occupy the property he acquired.
Lawyers recommend visiting the place offered in advance to try to avoid surprises. “Acquisition at auction can be advantageous because of the value, but it is necessary to observe several situations before its auction. The first tip is to visit the property in advance, check the location and conditions of use”, highlights Fellipe Duarte, specialist lawyer in the real estate field.
Problems, however, may not have an easy solution. “The main risk in acquiring a property at a judicial auction is its cancellation. In addition, the bidder must be aware of the debts associated with the property to be acquired. It is common for the acquisition via judicial auction to be questioned by the debtor who , seeking to remain the owner of the property, alleges the existence of nullities in the acts performed before and during the auction”, explains Davi Ory, partner at Malta Advogados and specialist in Real Estate Law.
Among the legal arguments that can be used by the “damaged” are the indication of defects in its subpoena (and any spouse or co-owner) and/or in the wording of the notice; the sale at a “low” price (lower than that determined by the magistrate in a lawsuit or, in the absence thereof, less than 50% of the asset’s market value), as well as any defect in the assessment of the property’s market value.
“In general, allegations like these can cause procedural turmoil and lead to a longer delay in issuing the auction term, an instrument necessary for the effective transfer of property to the bidder. There are cases in which these allegations are, in fact, pertinent and can cause the declaration of nullity of the auction held, causing the bidder to lose the opportunity to make other acquisitions that would be advantageous”, points out the specialist.
Davi Ory alerts to the fact that, in most cases, the debtor is being executed for being in default with a particular creditor or with the tax authorities. In this way, the interested party must seek, in the public notice, to identify the debts associated with the property whose responsibility for settlement is of the bidder. “It is customary for debts associated with the property, such as IPTU / TLP, to be borne by the bidder, which can reduce the attractiveness of the acquisition, especially if it is carried out as an investment”, she says.
It is not uncommon for the bidder to come across “hidden” charges, which often go unnoticed by people who have no experience with the legal procedures of this type of acquisition. And finally, we return to the problem with the former residents. “It is possible that, after the regular acquisition, it is necessary to file a lawsuit in order to remove the possession of the property from the then occupants, if they refuse to leave voluntarily; and, if only the ‘bare land’ is acquired (only the lot, without the construction erected therein, for example), it is likely that compensation for the costs incurred by the occupants for the construction carried out will be necessary.