It’s difficult to buy bankrupt property: is it really so?

It’s really no more difficult than any online purchase. Using the debtor’s TIN, you can get all the information about upcoming or ongoing auctions.

The website, a unified state portal, publishes all information about the sale of bankrupt property, including a link to the electronic platform where the property is sold and the dates of the auction. A potential buyer only needs to follow the link, register and take part in the auction under the specified conditions.

The only thing that can complicate the process is the need to obtain an electronic digital signature. But compared to the benefits of purchasing an asset at an auction, these are quite reasonable costs. In addition, there are many intermediaries – brokers or agents who will take over the entire auction on your behalf, for a fee of course. Here the choice is yours.

The period for acquiring an asset from the first or repeated auctions is one month. In a public offering, the length of the process depends on how soon you submit your bid and whether someone else bids at a higher price than you.

Based on the results of the auction, a purchase and sale agreement is signed within five working days. Registration of property acquired during this procedure occurs in accordance with the general procedure. After signing the agreement, you can begin to remove existing encumbrances on the asset, for example, a pledge, and after receiving a certificate from the pledge holder – the process takes up to five days – pay for the new property.