Sunday 24/November/2024 – 05:06 AM
The Ministry of Housing Finance Fund decided HousingA public auction was held to sell 60 residential units located in a 14.58-acre subdivision – extension of the Second District, Obour City – Qalyubia Governorate, on Sunday, November 24, 2024.
The offered units are characterized by an ownership share in the common property land, and a share in the garage prepared for parking, and the real estate financing system is permitted, and the areas of the offered units range between (86 m2: 132 m2).
Booking conditions
The auction session will be held at 12 noon at the Obour City Youth Center – Qalyubia Governorate, and the bidding document will be sold in exchange for payment of 500 pounds from the Housing and Development Bank, Obour Market and Abbas Al-Akkad branches, or from the Fund’s headquarters in Nasr City, and an amount of 100,000 pounds will be paid as a deposit to enter the auction. It is paid in cash, or by a bank check accepted for payment in the name of the Housing Finance Fund at the Housing and Development Bank, Obour City and Abbas Al-Akkad branches.
The sale will take place by public bidding for the highest reservation deposit starting from 20%, and the applicant must be a natural person of Egyptian nationality, and must have full legal capacity to act and contract. Anyone who wishes to bid on a residential unit must inspect it in person, and submitting the purchase application is considered his acknowledgment. That he has fully inspected the unit without any ignorance and before purchasing it in its current condition, and everyone who wishes to bid is obligated to personally sign, or his legal representative pursuant to a power of attorney, the purchase request and the documents. Submitted by him.
General conditions
The bidder must submit to the auction committee before the start of the session the receipt proving the payment of the insurance amount, the original purchase order attached to the specifications document after completing it, a copy of the “valid” national ID card, and the declarations after completing it.
In the event that the auction is not awarded to the bidder, the deposit will be recovered on the next day from the headquarters of the Housing and Development Bank branch in which the payment was made. In the event that the deposit is paid on the day of the session and the auction is not awarded, the value of the paid deposit may be withdrawn after the end of the auction session with the approval of the Chairman of the Auction Committee, and once the auction is awarded. The auction for the incremental amount is considered the sale has already been completed and may not be renounced.
Financial terms
Unit prices are specified in a statement of the units in the tables attached to the bidding documents. Bidding shall be based on paying the highest advance percentage of the unit value, with a minimum of 20%. The person who wins the auction must complete the remainder of the deposit amount for entering the auction in the same session, so that it becomes 10% of the total unit value, in addition. To pay the administrative and banking expenses, and the value of the auction capital amount will be completed as a reservation deposit within 3 months from the date of the auction session, and the remainder of the unit price will be completed in equal quarterly installments for two years without interest.
