Be part of the first private Real Estate Auction in Tulum and Playa del Carmen!!!
- Starting Date/Time: June 12th, 2019 at 12pm (Playa del Carmen Time)
- End Date/Time: June 21st, 2019 at 12pm (Playa del Carmen Time)
To participate in these Auctions you have to choose the property you are interested from this list:
- Tulum Furnished 1 bedroom condo, located at Region 15, currently under construction to be delivered this August
- Market Price: USD 140000 // Starting Auction Price: USD 72000 // Deposit: USD 2000
- Tulum Unfurnished 2 bedrooms condo, located at Region 15, currently under construction to be delivered by the end of 2019
- Market Price: USD 190000 // Starting Auction Price: USD 130000 // Deposit: USD 2000
- Playacar 3 bedrooms house, located in Playacar Phase 2, Club Real Area, private pool, ready for delivery
- Market Price: USD 550000 // Starting Auction Price: USD 320000 // Deposit: USD 5000
- Playacar 9 bedrooms / 2 houses, sharing a pool, located in Playacar Phase 2, ready for delivery
- Market Price: USD 850000 // Starting Auction Price: USD 620000 // Deposit: USD 5000
- Condo Hotel at 5th Av, Playa del Carmen, 11 bedrooms
- Market Price: USD 850000 // Starting Auction Price: USD 580000 // Deposit: USD 5000
If you are in Playa del Carmen now, we can schedule an appointment to the property of your interest or you can request by email more details for any specific property.
How does a Real Estate Auction work?
Real Estate auctions happen over a few days and start with a minimum price. From there, an auctioneer will allow competitive bidders to bid up the price of the property until a single bidder remains. At this point, the auctioneer will close the auction and award the property to the winning bidder. Buying a property at auction is a fast process where undervalued properties are sold to the public through competitive bidding. Auctions are either in person or online and can be advantageous for a fix and flipper and a long-term investor.
To participate, you need to have already the funds as it is a short sale process. You will have to:
- Put a down payment of USD 2000 to USD 5000 (deposit) in an escrow account with Stewart Tittle or Mexlaw
- If you win, this deposit will be part of the reservation and we will start the 2nd step of the sale, the promissory contract, within 8 days. You have to make sure that you can afford the property and the notary/closing costs which are between 5,5% and 7,5% of the price of the property.
- If you loose the Auction, you will receive your deposit back, minus the cost of the escrow account and auction fees (around USD 175).
- Sale process will last from 1 to 3.5 months depending on the way that you are buying (through a bank trust (fideicomiso) or not)
- To register in this auction, please send us an email through the contact form below with your name, email and the property you are interested in and we will send you further details.