Bankruptcy Bid Quick Start Plan

At bankruptcy auctions, property can be bought at a price that differs significantly from market value. In order to receive their money, the creditors of the debtor can immediately set the selling price of the property below the market, based on the quick sale of the property. In order to make money quickly, you need to present in detail the start plan at bankruptcy auctions.

You will need

• - Internet access

• - digital signature

• - passport scan, TIN, SNILS

• - registration and accreditation on electronic trading platforms

• - money

Instruction manual

1

Before buying property from bankruptcy bidding, you need to find this property. Bankruptcy property is sold on electronic sites. There are now about 60 such sites. Their complete list is given on the official website of the Unified Federal Bankruptcy Register. Another official source of information is the Kommersant newspaper. Printed announcements appear on Saturday. For ease of finding bankruptcy property, numerous auction aggregators are also used.

2

After the worthy property is found at the bankruptcy auction, it is necessary to work through the lot found. It is necessary to clearly assess the liquidity of bankruptcy property. The initial liquidity of the lot can be judged by the report of the appraiser. The appraiser’s report is usually posted on the website of the Unified Federal Bankruptcy Register. It is also worth asking for photos and additional documents from the bidder. Next, you need to inspect the lot together with the organizer of the auction.

3

Before buying a lot, you need to determine the likely profit from the sale of the lot after bidding. The easiest way to find out the likely profit is to ask the market. Find analogues of your lot on bulletin boards on the Internet and compare their value with what is offered at the auction.

4

Then the only thing left is to go through the procedure of buying a lot at the bankruptcy auction. Almost all trades are held in electronic form. At electronic bidding you cannot buy anything if you do not have an electronic digital signature. You definitely need to buy an electronic digital signature at one of the many certification centers.

5

To participate in tenders for bankruptcy, you must be registered on the electronic platform where the selected lot is sold. To register an individual on an electronic trading platform, we need: a copy of all pages of the passport, a notarized TIN, a color copy of SNILS. All documents signed by your digital signature are attached to the required fields on the electronic trading platform. On large trading floors (Sberbank-AST, Fabrikant, B2B), you will need not only to register, but also to be accredited in the bankruptcy property sale section.

6

In the vast majority of bankruptcy auctions, you will be required to pay a deposit. To pay the deposit, you need to find out from the organizer of the auction the exact details of the bank account and the amount of the paid deposit. At the first and repeated tenders, the deposit amount is a percentage of the initial price of the lot. On a public offer, the amount of the deposit is a percentage of the price of the property for a particular period. Paid deposit, upon winning the auction, will go to the account of payment for the lot you bought. If the buyer of the lot refuses to conclude a contract of sale of property and pay for the purchased lot, then the paid deposit will not be returned. If you have not won the auction, then the paid deposit will be returned in full after the end of the auction.

7

Next, you need to prepare a package of documents of the bidder: the bidder’s application, a copy of all pages of the passport, a notary copy of the TIN, a payment document for the payment of the deposit, a deposit agreement, consent of the spouse or prenuptial agreement (if the buyer of the lot is married). It is recommended to use pdf files when submitting documents for bidding.

8

The prepared package of documents must be loaded into the card of your trading procedure in the appropriate fields. After that, you need to sign the application with your digital signature and wait for the protocol for determining bidders. If you are recognized as the winner of the tender, you must sign the subsequent contract of sale and pay the price of the purchased lot.

note

Buying property at a bankruptcy bidding is really inexpensive, but there is a limit below which the price will not fall in any case. Competition in bankruptcy bidding has now increased dramatically. You are not the only one who wants to buy property at a bankruptcy bidding cheaply. Always keep that in mind.

Useful advice

In case of obvious abuses on the part of the bidding organizer and the arbitration manager, you can recognize yourself as the winner by sending a complaint to the FAS RF or to the territorial units of the FAS RF. After checking the arguments of your complaint and the bidding procedure itself, the territorial division of the Federal Antimonopoly Service of the Russian Federation may issue an order to the bidding organizer to recognize you as the bidding winner. A complaint about the actions of the bidding organizer can be sent electronically through the official websites of the FAS RF and its territorial units.