Requirements and How to Buy Auctioned Houses at BTN

Mahkatop — Buying an auctioned house can be an alternative for those looking to own a home at a lower price. Auctioned houses are usually offered by banks because the debtor cannot pay their loan.

If you plan to buy an auctioned house, the first thing to do is to check the condition of the house and the surrounding environment to ensure you’re not just attracted by the low price.

One of the banks offering auctioned houses is Bank Tabungan Negara (BTN). Here are the requirements you need to meet if you want to buy an auctioned house at BTN:

Requirements to Buy Auctioned Houses at BTN

According to the Rumah Murah BTN website, the requirements to buy an auctioned house at BTN are quite simple:

1. Create an account on www.lelang.go.id
2. Have an Identity Card (KTP)
3. Have a Taxpayer Identification Number
4. Have a bank account number

After meeting these requirements, follow the steps as instructed on the website. You can choose a house based on district/city, sub-district, with prices ranging from IDR 100 million to IDR 1 billion.

Information about the houses to be auctioned and their estimated prices are usually announced by the bank on the branch office bulletin board.

General Requirements for Bank Collateral Auctions

1. Deposit a security deposit of about 20-50 percent before the auction takes place. This deposit will be fully refunded if you do not win the auction.
2. Attend the auction location according to the agreed schedule.
3. Follow the auction process as directed by the committee.
4. If you win the auction, make the full payment within the specified time. Failure to pay on time will result in disqualification, and you will be blacklisted from participating in future auctions for a certain period.

That’s the information on the requirements and how to buy auctioned houses at BTN. Hope it helps!. (*)