How do Infonavit auctions of abandoned houses work?
Do you want to participate in the auction of abandoned houses of Infonavit ? Here we tell you what you need to know in order to participate. Take note!
If you own or represent a legally constituted Mexican company that has financial capacity and experience in promoting or developing real estate, then Infonavit's abandoned house auction program is ideal for you or your organization.
The houses that are auctioned are in different parts of the national territory. It is important that you know that Infonavit is the sole owner or owner of said properties, so there will be no problem with third parties seeking to claim ownership.
In case you are interested in this type of investment, you have to know that the packages consist of between 10 and 200 houses, as well as that the reference value will be defined from a commercial appraisal , which will be carried out before the auction by valuation units authorized by the Institute. It is worth mentioning that legal entities can also participate in this scheme.
Next, we will share with you how the Infonavit auctions of abandoned houses work.
What is the process to participate in the auction of abandoned houses of Infonavit ?
- Pre-register and know the documentation
- Check the dates of the call
- Sign up and comply with the participation bases
- Visit the auctioned houses
- Clarify your doubts with the institute
- Participate in the opening of offers
- Meet the winners
- Signing the contract
Pre-register and know the documentation
It is essential that you know that the Infonavit auction of abandoned houses lasts approximately 7 business days, however, there are times when the process takes longer.
The process begins with the pre-registration of the interested parties, who will have to gather and deliver the following documentation at Av. De las Culturas # 101, col. San Pablo Xalpa, Azcapotzalco mayor's office in Mexico City.
- Pre-registration request prepared by Infonavit.
- Testimony or certified copy of the Articles of Incorporation of the company.
- Testimony or certified copy of the Power of Attorney of the Legal Representative.
- Proof of the fiscal situation of the company before Infonavit.
- Valid official identification.
- Tax identification card (RFC).
- Recent proof of address.
- Bank statement.
- Curriculum of the interested company; in case of being recently incorporated, that of its main partners.
- Financial statements for the last fiscal year.
- Dun & Bradstreet Business Evaluation Report.
- Letter I protest.
- Confidentiality agreement.
If the aforementioned requirements are not met, an Infonavit executive will contact the interested party to deliver the missing documents to pre-registration.
Check the dates of the call
The call is the most important element that you should consider in the auction of abandoned houses of Infonavit. This instrument will disclose the general conditions under which the house will be put up for sale and how the auction process will be carried out. For this reason, it is very important to know the date on which it will start, which you will be able to consult through the auction calendars published by the Institute on its website .
Register and acquire the participation bases
Once the pre-registration is done, the participants will be able to carry out the registration process for the auctions that interest them the most on their corresponding date. The address where they will have to be presented is the same one where they delivered the pre-registration documentation.
When they are already registered, the interested parties must acquire the participation bases, which have a cost of 3,000 pesos and must be paid by certified check from the legal entity that will participate in the auction in favor of the Institute of the National Housing Fund for the Workers (Infonavit). Subsequently, you must send a copy of the check to the email: [email protected] .
In the participation bases, each of the details of the auction and the location of the participating real estate are specified. A very important fact that you must bear in mind is that the bases cannot be shared with any other company, since they are an individual and essential requirement to continue with the process.
Finally, you have to know that, as it is a recovery fee, no fiscal receipt will be issued for the cost of the participation bases.
Visit the auctioned houses
As soon as you receive the participation rules, you can start visiting the houses recovered by Infonavit . The hearing is mandatory, so it is very important that you have enough time to attend.
Clarify your doubts with the institute
In case of doubts, or if you are looking for some kind of clarification, it is necessary that you describe them through the email provided by the Institute. You have a deadline of up to 48 hours. It is important to send your doubts before celebrating the reception ceremony and the opening of auctions.
Your questions will be answered by the same means within a maximum time of 24 hours before the Infonavit auction process for abandoned houses takes place .
Participate in the opening of offers
The people who will participate must present themselves on the date, time and place indicated in the bases. Once all the offers are delivered, the envelopes will be opened to find out their content, they must contain:
- Offer to purchase on company letterhead with legible signature and must have the amount offered and the payment term (no more than 90 days). The envelope should be protected with transparent tape.
- Certified check as guarantee of seriousness issued from the participant's account. The amount will be 10% of the position value presented.
The offer must be for the total of the dwelling of the selected package (between 10 and 200 houses), since Infonavit does not consider partial offers.
During this process, a methodology is used by the Infonavit Board of Directors to determine whether or not an offer is suitable for the Institute. This is evaluated with the indifference price and the net value of the auctioned property.
Meet the winners
Once the results of the indifference price analysis and the evaluation are favorable to any of the participants, a ruling will be issued and the winner of said auction will be designated. In the event that the results of the indifference price analysis are not favorable for Infonavit, the corresponding minutes will state that the process is declared void.
On the same day the bids are received, the winners will be known, and when the opinion is issued, the checks for the rejected bids will be returned to the representatives of the participating companies. Only the check of the winning participant will remain in the custody of Infonavit.
Signing the contract
When the ruling is issued, the contract will be signed between the Infonavit representative and the representative or legal representative of the winning participant. Subsequently, the winning company may begin to repair or promote the homes that were left at its disposal.
Finally, they have a period of 90 calendar days to make the payment of the houses recovered by Infonavit .
Now that you know how the Infonavit auctions for abandoned houses work, are you ready to start the process?
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