Auction Bazaar

One of the best ways to invest in verified real estate properties is by finding e-auction portals. In these portals, the public and private sector banks enlist the properties that belong to defaulters and have been used as mortgages for loans. Have you ever considered purchasing your next property at auction? Auctions are a significant way to avoid lengthy and indecisive buying methods and bag a deal. “As per https://www.statista.com/statistics/1244592/india-gnpa-raio-of-nbfc-by-sector/ , As of March 2022, India's non-banking financial companies (NBFCs) reported the highest gross non-performing assets (GNPA) ratio of 9.9 percent within the services sector, a decline from 11 percent in September 2021. The sector was followed by the industry sector with GNPA ratio at 7.8 percent. The total GNPA ratio of NBFCs eased in March 2022 at 6.2 percent from 6.8 percent in September 2021.” Banks tend to conduct different auctions of properties in agricultural, commercial, and residentia...

Interested buyers participate in auctions to get their hands on properties enlisted by the owners in an e-auction portal. The digitization of this process has made it easier for interested buyers to learn about the latest auctions and properties enrolled in them. Also, considering their massive benefits, such as ease, clarity, and efficiency. Digital or electronic auctions are different from physical auctions. Here an interested buyer needs to be more careful and learn a few tricks to understand the process well. Auctions are filled with an environment of excitement. When bidding, it's easy to lose control of paying more than the property is worth. So, ensure you have a game plan before going to the auction. Let us take a quick look at the expert tips and tricks you can use in online bank auction property . Tips to follow to participate in an e-auction 1.                      Homework is mandatory Make sure y...

The banks and financial companies offer loans to the seekers for buying properties or for other purposes where properties are mortgaged. In this process, financial institutions use a property or an asset as a mortgage to secure the loan amount disbursed to the borrowers. Sometimes, the borrowers fail to follow the loan repayment plans and become defaulters. Upon continuous notice, if a borrower does not respond, the financial institution is eligible to use the mortgage to retrieve money from the loan market. When such cases happen, the assets that don't perform are called non-performing assets (NPAs). Banks get rid of such NPAs via online auctions and reduce their financial burdens.                                                      As per https://www.statista.com/statistics/1032962/india-residential-sales-by-city/ , i n the first half of 2022...

An auction is an event where bidders are welcome to participate and present their biddings to compete publicly with each other. We have seen such events in various aspects. In the same element, an online auction is also called an e-auction. It is conducted online via a website portal. Let us discuss what an e-auction is and how it works online. E-auction has piloted a new epoch in this digital landscape. A transparent and win-win situation for all stakeholders involved in the process. Customers enjoy all the advantages of bidding online. Government goods also get constant exposure bringing proper remuneration. As per https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1859785 , an e-auction of all the gifts Prime Minister Shri Narendra Modi receives for the noble cause of Namami Gange was conducted. More than 1200 prestigious and memorable mementos and gifts presented to him were auctioned.   What is an e-auction? As mentioned earlier, an auction is carried out online...

Bank  auction properties  are standard in India and are considered lucrative investments. These properties are available at attractive rates and in super reliable and posh locations. Buyers can bid on different properties based on their financial perspectives and preferences. As per Deloitte, In the last few years, banks have been under the scanner because of increasing NPAs. The Gross NPA (GNPA) of all Scheduled Commercial banks (SCBs) in India in 2007-08 was INR 40,452 crores. Over the 11-year period since, the GNPA for SCBs increased to INR 9,36,474 crores at 31 March 2019, implying a CAGR of 33.06 percent, far outstripping the growth of banking sector credit growth during the same period. It is essential for buyers to know about the bank auction process and how the entire procedure works to make the most out of their auction purchase. What Properties get Auctioned?  If homeowners cannot pay the EMIs for three consecutive months, they default. During loan d...

Buying a property through a bank auction is one of the most important investments that one can make. If you are looking for bank auction properties for sale , there are a few essential things to keep in mind. In most cases, properties that are considerably lower in price than the market value are attractive and lucrative. However, there are other reasons to buy property from a bank auction. Some properties offered in bank auctions come at a considerable budget and in superb locations.  Not to mention that there are a lot of options to choose from. So, bank-auctioned properties are the way to go. However, it is always advisable to perform all the legal processes and due diligence before you buy the property. Otherwise, there are many legal hurdles that one can face during the process of purchasing.  Ensure you get physical possession of the property as soon as you complete the payment to avoid any legal dispute. 1.       Conduct Property Inspect...