In Spain a Procurador is a court representative with a law degree who is serves as a liaison between the lawyer, client and court. There is no equivalent in Anglo-American courts but a close translation would be “legal representative.” The “consejo general de procuradores de España or CGPE” is the general council which the procuradores belong to. The CGPE electronic auction platform www.subastasprocuradores.com, is an online platform which allows the user to participate in all sales and auctions proceeding handled by Procuradores’. The purpose of this electronic platform is to facilitate the work done by procuradores who have been granted legal status by the courts to carry out Sales and Auction proceedings. Specifically, Art.640 and 641 of the Civil Procedure Law, which establishes the possibility that the general council of procuradores can act as a specialized entities to sell and/or auction assets of any kind.
With the implementation of this CGPE electronic auction platform we hope to achieve the following:
Incorporate an Asset Management team into the existing system which will be able to effectively carry out sales and auctions of goods.
Through this platform Sales and auctions of goods subject to the following proceedings will be managed:
The rules governing each sale and/or auction process shall, at all times, comply with current legislation. It is important that you carefully read the particular conditions of sale / auction to know the peculiarities of each procedure.
A direct sale is a procedure which allows the user to acquire an asset through a system for receiving bids to purchase said asset. Bids sent through the platform must be made within a timeframe. As a general rule, the set deadline will not be extended, although there may be exceptions in some cases. After the deadline, the highest bid will be considered and either be accepted or not.
The managing authority is the person who holds the court file for the goods being sold or auctioned. During almost the entire duration of the proceedings, the person overseeing the legality of said proceeding will be the judge’s council however there are exceptions for example in insolvency proceedings where besides Judge’s council, there will also be a insolvency trustee who proposes to court to carry out the sale or auction though a specialized entity.
Ultimately it will be the assigned judge who oversees that the sale / auction is carried out properly.
To bid on goods published on the platform, whether it be a direct sale or extrajudicial auction, prior registration as a user is required. The requirements that must be met by the user in order to be able to register and, where appropriate, participate in a sale or auction are specified the “Terms of Agreement” section.
On the legality of the procedures: All of our sales and auction proceedings are guaranteed by the courts. In the case of insolvency proceedings, the authorization for us to carry out the sale or auction is reflected in the liquidation plan and in the order approving the liquidation plan, or in the subsequent communication that the insolvency trustee makes to the Court communicating his willingness to carry out the sale or auction process through a specialized entity.
In the case of - repossessions or mortgage foreclosures: we will be granted with creditor’s or the debtor’s prior permission as well as that of the justice department’s trustee to carry out said sale or auction as stated in the Court Ordinance.
When dealing with enforcement proceedings: we will have the court order in which the auction details are specified
Inclusion of a time stamp: The time stamp in an electronic document guarantees that the information contained in the document has not been modified since the time when the time stamp was generated. An authorized Time Stamp Entity will generate said Time Stamp.
Involvement of a Notary Public: When so required, the sale or auction procedure will be notarized by including a Notary’s Certificate which enables the specialized entity to carry out and document the sale or auction proceedings.
When an offer or bid is placed: the system will automatically send you an email to the account that has been registered on the platform. When dealing with auctions, if another user outbids you, the system will send you an email informing you of the monetary amount of the new bid but not the identity of the bidder.
Users who have not registered on the platform as users may access the information of the goods subject to deposit, sale or auction, but in order to take part in any operation related to the acquisition of goods or to receive additional information posted on the electronic platform, you must be a registered user.
Registered users may participate in the sale and auction proceedings by submitting offers or bids through the platform after having fulfilled the requirements established for each proceeding (at this point we refer to the fact that a security deposit is required in order to be able to bid).
To participate in an auction, you have to be registered correctly (the procedure is explained in the “terms of agreement “ section.) It is also necessary to comply with the additional requirements imposed in each sale and auction proceeding (Secured bond/ provision of surety in order to participate).
In order to register on the auction platform www.subastasprocuradores.com, it is necessary to follow the instructions that appear in the "Terms of agreement." The system allows individuals and legal entities to register. If prior authorization is given, one user may represent several individuals and/or legal entities.
In order to register correctly, you can use an electronic certificate or alternatively follow a registration system after verifying a telephone number, an e-mail account and after receiving documentation proving the identity of the person who wants to register.
If registration is made on behalf of a third party, the legal department of www.subastaprocuradores.com must be provided with documentation proving the user's authority to participate on behalf of the third party. Such documentation will be requested by the platform while completing the registration process.
Furthermore, the terms of agreement for the online platform must be accepted in order to complete registration as a user.
Because it is another way to verify your personal information.
It may take up to 3 business days from when documentation is submitted to when it is verified by the legal department at www.subastasprocuradores.com. This may be of importance for users who are interested in participating in a sale or auction proceeding that ends before the 3 business day deadline indicated here. Therefore, we recommend that you register as soon as you become aware of your interest or need to participate in an auction.
Once you have completed the registration process, to be able to access your user profile you must go to the main page of the platform www.subastasprocuradores.com and enter your username and password.
Once you have entered them, on the top right hand side of the screen you will see a button indicating "Your auctions". Click there and you will be able to visualize your personal information data as well as information regarding sales and/or auction proceedings in which you have participated.
If you forget your password, simply click on the "forgot password" link on the www.subastasprocuradores.com home page. Our system will send you an email with a link to reestablish your password.
If you do not receive the SMS verification of your phone number, please send an e-mail to [email protected]@subastasprocuradores.com.
If you don’t receive confirmation, send an email to [email protected].
In order to represent another company or a third party, it is necessary to prove your representation with a legitimate documents (company incorporation deed, power of attorney, etc.). The electronic platform will allow as many proxies as the company is accredited to have.
By clicking on “My Profile” once you’ve identified yourself on the platform.
You can, at any time, exercise your right to rectify and/or cancel your subscription by sending a written request together with a photocopy of your ID card or equivalent documentation, to Consejo General de los Ilustres Colegios de Procuradores de España c/ Serrano Anguita nº8 pta. 10, C.P. 28004 de Madrid or by sending a email to [email protected]
In order to be able to bid in an auction, the user must be properly registered, and for this he must have the legal capacity to bid. From the electronic platform www.subastasprocuradores.com, user registration is permitted to those individuals or legal entities, Spanish or Foreign, with legal status to contract in accordance with Spanish law. Specifically, disabled people or those who have been declared bankrupt, insolvent, subject to judicial intervention or have been disqualified may not participate in the direct sales or auctions organized by this platform as stated in Spanish Bankruptcy Law Ley 22/2003, de 9 de julio, Ley Concursal.
In addition to being properly registered, in some sale or auction proceedings, it will be necessary to provide a series of additional guarantees in order to be able to bid, such as paying a security deposit or secured bond in the account indicated for such purpose.
In the cases where the user is a creditor in charge of debtor’s goods or a preferred creditor no security deposit is necessary to bid (except in some exceptional cases, in which the courts state otherwise,) and they may participate in the auction at any time from its start date, regardless of whether there has been any other bid made or not.
Any user who is going to participate in the sale or auction process on behalf of a third party must log in and indicate which person or company he/she represents. From that moment on, he/she will be able to place the bids entrusted to him/her by the person he/she represents, without having to verify his/her representation each time he/she places a bid.
An auction that requires a deposit implies, without exception, that the user who wishes to bid, must have previously must have first made a deposit in amount required to the account designated in accordance with the particular conditions of the auction.
The following users will be exempt from having to pay a deposit in order to place a bid:
In the area of bankruptcy law, those users who are considered creditors with special privilege.
In the area of civil law, those users who are considered to be the executors.
When a deposit is required to participate in the auction, it will be made via a bank transfer, from the user’s bank, in the amount indicated for said property, to the account designated by the specialized entity, specifying the account to which the deposit amount should be reimbursed in the event that the bid is not accepted.
Once the auction has ended, in the event that the participating user is not awarded the good or goods for which he/she has bid on, the deposit will be returned via bank transfer to the same account from which the initial transfer was made, within the timeframe specified in conditions of the auction.
When a user has been the successful bidder of a property subject to auction in whose proceedings required a security deposit, the amount deposited will be reserved as a guarantee of compliance to pay the remainder of the final amount bid for the acquisition of the asset or assets awarded and, where appropriate, as part of the price of the sale. The entity will transfer the amount of the deposit to the Notary's Office where the transfer of the property is to be formalized, and said amount will be used to complete the total payment of what has been offered for the auctioned property.
To place a bid, the user must log into the system using his/her credentials. The bidder selects the sale or auction for which he/she wishes to bid on, and upon accreditation, and if applicable, after having made the corresponding deposit, may bid for the amount he/she wishes, provided that no minimum bid amount has been established for the sale or auction in which he/she wishes to participate, in which case, he/she must bid for an amount equal to or greater than said minimum amount set.
In the event that the user is authorized to bid in the name and on behalf of several people, at the time of logging in he/she must verify the identity of the person he/she is representing at that moment. If he/she wishes to bid on behalf of another person, he/she will be able to modify this information at that moment, being able to make the any bids that he/she deems necessary.
The platform will not accept bids for an amount equal to or less than the highest bid already placed.
For each bid placed and confirmed, the bidder will receive a document by email confirming his bid. Confirmed bids cannot be withdrawn.
No. Bids and offers entered in the system are IRREVOCABLE, with the following exceptions:
That the property has undergone a sudden change in its state of conservation that justifies a change in its value.
That the bid issued is obviously disproportionate and it is evident that there has been an error in entering the amount.
In the event that, at the end of the auction, the highest bidder declares that he/she does not wish to continue with the proceedings or does not grant the public or private documents necessary for the transfer of the property and payment awarded price, regardless the noncompliance proceeding which will take place for breach of the aforementioned (in the manner established in the terms of agreement for participating in the public auctions), the next highest bidder will be declared the successful bidder.
As for the type of liability incurred, in addition to the damages caused in the proceedings, which will result in the loss of the deposit made and, if applicable, any claims from the managing authority that commissioned the sale or auction, the specialized entity will be paid the amount equivalent to 4% of the highest bid.
Please take into account the enforceable penal code art. 262 which states the following: 1.Those who solicit gifts or promises not to take part in a public tender or auction; those who attempt to keep bidders away from it by means of threats, gifts, promises or any other ploy Those who conspire among themselves for the purpose of altering the price of the auction, or those who fraudulently bankrupt or abandon the auction after having obtained the award, shall be punished with imprisonment of one to three years and a fine of 12 to 24 months as well as being disqualified from bidding in judicial auctions for three to five years. In the case of a tender or auction held by public administrations or public entities, the agent and/or the person or company represented by him will also be subject to punishment with disqualification and will be lose the right to contract with public administrations for a period of three to five years.
2.The Judge or court may impose one or more of the consequences provided for in article 129 if the guilty party belongs to a company, organization or association, even of a transitory nature, engaged in such activities.
The auction takes place on the day and time posted on the online platform www.subastasprocuradores.com.
The duration of each sale or auction process may vary from one to another, we recommend that you carefully read the information and details for each sale or auction proceeding to avoid confusion. All auctions will end on business days. This means no auctions will end on a Saturday, Sunday or bank holiday. Auctions will end between 6:00 PM and 8:00 PM depending.
The information relating to an auction that appears on the Auction Platform is the responsibility of the Auction Managing Authority. For any clarification said Authority should be contacted.
The person in charge of transferring the asset.
Depending on the type of legal proceeding affecting the property to be auctioned (bankruptcy, enforcement,, administrative, criminal, labor), the awarding of a property acquired through auction may be finalized in following ways:
The manner in which you will receive the documentation that proves you are the owner of the property acquired through auction will be specified in each auction.
Yes, in the case of auctions of goods subject to judicial proceedings, it is possible that, by order of the court or at the request of the executor, the auction proceedings may be cancelled. When the platform www.subastasprocuradores.com becomes aware of a request for cancellation of an auction, we will automatically proceed to stop the auction proceedings. All users who have participated in the auction will receive a refund of deposit they have made in the manner established in the specific conditions of the auction. When an auction is cancelled is due to the request of the executor, the latter shall pay, for the expenses incurred to the auction platform. This amount is equivalent to 5% of the starting value of the property.
In this case, the auction will be permanently cancelled. In the event the property is up for auction again, it will appear as a NEW auction.
The platform www.subastasprocuradores.com allows the user to place a bid at any time and from anywhere. At the top right of the screen, users will see a clock. This clock marks the current time in Spain. Please note Canary Islands is one hour earlier. To help users outside of Spain participate,, there is a “countdown” which calculates the exact time remaining for each auction.
In some cases, users may be able to visit the property being auctioned. This will take place when the Auction Management Authority has the keys to the property and the property is not rented or occupied. The open house dates will be posted on the platform in the information section for said property.
The dates on which the open day will be held will be published visibly in the information of each property. In order to attend, you must send an email indicating your interest in viewing the property and the timetable when you would be able to attend (please confirm).
An extension in the closing time an auction takes place when a user places a new bid that exceeds the previous one two to five minutes before the auction is to end. This system is designed so that users have the opportunity to continue bidding up to the maximum amount they have foreseen, and allows the auction to end not by time but by price.
The minimum bid is the amount above which the system allows the user to place a bid. It is calculated according to the value of the item to be auctioned, and is established to prevent bids that do not match the real value of what is being auctioned.
It is the highest price that a user has bid for the acquisition of a good.
The value of the property in each auction proceeding corresponds to the price that is determined by the managing authority or the owners of the property to in accordance with the market value.
In the case of assets subject to foreclosure proceedings, the value or appraisal will be carried out by experts appointed by the parties.
If the property is mortgaged, the particular conditions of the auction will establish whether or not the mortgage is to be paid off once the auction proceedings are completed.
It is a proceeding that takes place due to the following conditions:
The following information regarding the goods up for sale or auction will be provided:
In the case of real estate sales and auctions we will usually have property registration certificates or certifications of ownership and encumbrances and /or leans against the property, These will be made available to users. Nevertheless, we recommend that the user who is interested in acquiring a property, directly request this information from the corresponding Registry, as the information we have available may be inaccurate.
The platform www.subastasprocuradores.com will receive between 3 and 5% of the amount awarded for the sale, deposit, and/or auction of real estate and between 10 and 15 % of the final price of furniture. In some cases, the price will be deducted from the user's bid, and in others, it will be paid separately. To find out if you have to pay this additional amount, please refer to the specific auction conditions.