When applying for loans in large amounts, it is often required to provide a security in the form of movable and immovable property. This object becomes the property of the pledge holder. In case of violation of the terms of the contract, the formation of debt, the bank sells such objects at attractive prices. How is the sale of debtor property by Sberbank?
Definition
Pledged property is considered to be objects transferred as security for obligations taken. This can be not only real estate, but also special equipment, equipment, vehicles, goods in circulation. In case of formation of overdue debt on the loan, the object becomes the property of the bank, which then deals with its implementation. Objects are exhibited at interesting prices. Their implementation allows the company to settle obligations.
Most often in Russia, Sberbank and other financial institutions sell their mortgaged property through an auction. The initial price for the object is very attractive, because there are many who want to participate in the auction. All participants are pre-accredited.
“Sberbank AST” - sale of bankrupt property: procedure
Several schemes for the sale of objects are practiced: judicial, extra-judicial, and by agreement. Sberbank implements the sale of collateral by auction, which allows you to gain the maximum possible amount of money for the property. You can get acquainted with the list of exposed objects on the website of a financial institution or at aggregators who collect information from several banks. Bidding is carried out on an electronic platform. To participate in the process, accreditation is required, which is accessible even to individuals.
Sberbank exhibits property of debtors and bankrupt on its electronic site RAO OJSC. She works around the clock. Potential buyers first look at objects on the platform. If they find interesting offers for themselves, then they need to contact a bank representative and fill out applications. After their approval, the organizers inform the participants of the bidding time. Notifications of all objects of interest are sent to the email of each participant. The authenticity of customer intentions is verified as follows. All bidders must leave a deposit, which can then be used as an advance for the purchase of an object. Usually it is 10% of the initial value of the object.
The “Collateral Property” section contains information about all the objects for sale: their brief description, price, location and features. Sberbank holds auctions for the sale of property of debtors in the following order. During the bidding, each object is assigned a serial number. To track bids online, customers should install automatic updates. The one with the highest bid wins. At the end of the bid, another 10 minutes will be accepted. This determines the person who can buy the confiscated property if the winner refuses the transaction.
The price of an object is formed in two ways:
- open bidding shows the bids of all participants;
- at closed auction bids are visible only at the end of the auction.
All bets must exceed the initial price set by the bank.
Insurance
One of the advantages of buying a mortgage facility in Sberbank is that the borrower can insure property at any company that meets the requirements of the bank. A financial institution offers customers a list of organizations that have passed accreditation. Policies can be purchased right at the bank’s office by choosing one of the available service packages. Proposals for the execution of an agreement with an unaccredited company will be considered within 30 days from the date of submission of documents. In this sequence, the property of debtors is sold by Sberbank.
Benefits
- Selling property of Sberbank debtors is carried out after a thorough check of the suitability of the object for use, which is a guarantee of quality.
- The cost of a collateral object is much lower than that on the market.
- Selling the property of debtors through Sberbank-AST. It is a simple and intuitive platform to use.
- Electronic trading system significantly saves time on the transaction.
- All participants have the same rights.
- Legal and physical persons can participate in the auction.
- Online bets can be monitored from anywhere in the world.
Features
If the bank has not conducted a thorough audit or violated the procedure for the alienation of property, then questions may arise with the execution of the transaction. In order not to encounter such problems, you need to independently verify the facility or at least ask the sellers for the availability of all documents for the facility.
Sales of vehicles
A collateral object can be not only real estate, but also motor vehicles. Realization of cars can be carried out in two ways. Or the owner himself puts up a vehicle for sale in order to pay off obligations in a short time. Or a financial institution is engaged in this in the same way as the sale of property of Sberbank debtors. Bidding is also carried out through an electronic platform. If the borrower himself puts up ads for the sale, then the transaction is executed much faster.
After paying for the object, you need to do the paperwork:
- Requirement for the seller to issue the vehicle.
- The act of bidding.
- Decree on deregistration.
- Power of attorney from the owner of the vehicle.
- To remove an object from the register in the Ministry of Justice.
Scheme
Everyone who wants to buy a car submits a preliminary application and pays for participation in the auction (held once a month). It exhibits all collateral objects of the bank. The process is the same as the sale of collateral. Before the auction, the judge invites the borrower to repay the debt in order to avoid the sale of the property. If he refuses, then bidding begins.
Recommendations
Sometimes financial institutions artificially inflate the value of the property to the full amount of the loan. In order not to overpay the bank, you should study the object in detail at the official sites: Sberbank AST and RAD before the auction. The same information can be obtained through electronic bidding operators. The VYKUPAI.RU, Zalog24 and RuVin portals contain all information about collateral objects, their status and prices. It also exhibited technical specifications and photographs of objects from different angles. Legal aspects of the transaction will help clarify the consultation of a lawyer (1-2 thousand rubles).
What you should pay attention to?
Before selling, the vehicle undergoes maintenance. The buyer receives a car with a warranty period. Banking institution is engaged in paperwork. The cost of the object is 20%, and sometimes 50% lower than the market. If the owner does not know about the confiscation of the object, then perhaps the vehicle is listed in theft, and the transaction itself can be challenged in court. Very often, such objects fall at an auction from owners who are not serious about buying. To protect yourself from possible problems, you need to make sure that the alienation of property was carried out legally.
What do potential buyers need to know?
At the end of the auction, the winner must redeem the item within 10 days. If he does not have enough funds, then he can take a loan from the bank on favorable terms. Only after paying for the property does the process of paperwork for the property begin. The winner of the auction becomes the owner of the object. In practice, not all bidders buy objects. The fact is that the opportunity to evaluate the goods appears only after the auction. This is a big drawback of this implementation method.
Market situation
The last two years there has been an imbalance in the banking sector. Loans are getting less and less, and the number of collateral received on default loans is growing. At the same time, the number of positive refusals from property increased. Borrowers themselves want to quickly repay the debt, so they put up objects for sale voluntarily. According to the Federal Service of Bailiffs, in 2015, 20 times more real estate objects were put up in comparison with 2014. The situation is also with motor vehicles.
Due to the growing number of debts, banks began to use new sales schemes. VTB went under the hammer, announcing the sale of hundreds. Half of the objects were sold at public auction and the same amount through the "Unified electronic trading platform." Moreover, the auctions were held at different times.
Bidding is not the only way to sell objects. Raiffeisenbank searches for customers on its own. The most illiquid objects are sold through real estate companies. DeltaCredit and Rosbank operate according to the same scheme.
Clients of Otkritie Bank also agree to sell the objects in pre-trial procedure. The financial institution’s website provides a list of collateral. It can be purchased by both an individual and an individual entrepreneur or company. If there are several buyers for an object, then the one who offers a large amount wins. However, the auction in its pure form is not held.
At Absolut Bank, problematic objects are sold at face-to-face auction, the minimum number of participants is two. Each of them must make an advance of 5% of the value of the object. This amount is sent to the winner on the deposit from the purchase, and the funds are returned to the loser. According to statistics, during auctions, lots are getting more expensive by 20-150 thousand rubles.
Conclusion
There is nothing illegal or unusual in the sale of mortgaged property. Many banks use this scheme. The main advantage of working with Sberbank is its excellent service. The site interface is simple and straightforward. A beginner will also be able to master the trading platform. The productivity of operations will not leave anyone indifferent.