What are the disadvantages of auctions?

What are the disadvantages of auctions?

SLOT AUCTION POLKADOT FROM BINANCE

When people fail to meet their mortgage commitments they run the risk of foreclosure. Fortunately, investors can access some real estate in a timely manner when this happens. However, not everything is rosy for them when it comes to apartment auctions.

The mortgage loans granted are always secured by the property being financed. This means that in the event of non-payment, the mortgage is foreclosed and the property becomes the property of the financial institution.

Although it may seem that the cycle is already closed, in reality it is not so -although in the meantime your capital is safe in something tangible-, since that entity is not a real estate agency but what it wants is to recover the money to put it back into circulation, since this is its real business.

It must be taken into account that buying an apartment at auction has its complexities. The first thing to emphasize is that, although technology has expanded the participation in this type of activity, this implies some entry costs. In order to be able to bid for any property subject to auction or auction, it will be necessary to pay the corresponding participation fee.

What is the Dutch auction?

The electronic auction today has innumerable advantages, as it allows to multiply the publicity of the proceedings, to provide almost unlimited information about both the auction and the asset and, most importantly, to bid almost at any time and from anywhere, which generates a more efficient system for all concerned.

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As the person responsible for the management of the Judicial Office, the Judicial Secretary assumes a fundamental role in the holding of judicial auctions, with the aim of promoting their transparency. He is responsible for starting the auction, ordering its publication with the necessary data, as well as its suspension or resumption, maintaining a continuous control during its development until its end, through a privileged electronic relationship with the Auction Portal. At the end of the auction, the Auction Portal shall send certified information to the Court Clerk indicating the bids in order, headed by the winning bid.

Here’s where you can buy good and cheap cars

Have you heard about buying used cars at auctions in Ecuador? This is a modality of sale and purchase of pre-owned cars in the country that has been going on for a long time. Normally they are events that are activated from time to time by state entities or private companies, they can be auctions of real estate, vehicles and other items.

Car auctions are a purchase option that is usually characterized by having in its catalog used vehicles at very low prices compared to the average market, but also has the characteristic that the vehicles that are sometimes are not in optimal conditions, plus you do not have the guarantee of buying it in an authorized establishment.

Currently we have used car auctions for dealers, where they can see the detailed specifications of each car they wish to buy and our files have the information of each inspection so that the process can be completely transparent.

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For Ecuador we have both stock in the cities of Quito and Guayaquil and you can review each car with its specifications in the following links, plus if you are interested you can put your details so that an advisor will contact you as soon as possible and schedule an appointment for a visit and test drive.

US auto AUCTION | COPART vs IAA

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A housing auction is a judicial procedure that must be included in the BOE in which a mortgaged or foreclosed home is offered. These auctions can mean a saving of up to 50% compared to its value.

It is advisable to ask for the simple note of the house before bidding to make sure that we do not commit ourselves with a house with debts. In case there are debts and you have won the bid, the new owner will have to take care of them.

In addition, it is necessary to take into account the possibility that there are squatters in the house. In the case of houses that have not been inhabited for some time, the squatters look for this type of houses, since the law is more flexible since it is not a habitual residence.

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