In an effort to provide alternatives and new solutions that contribute to Puerto Rico’s economy and to attract different markets interested in investing and buying goods on the island, E&S Group Inc. is relaunching the EdictosySubastas.com digital platform.
This is a system that collects, organizes, categorizes and presents detailed information about the different auctions that are taking place in Puerto Rico in the different forums such as: judicial, state, criminal, federal, private auctions, bankruptcy and others.
There are free auctions open to the public going on in Puerto Rico on a daily basis, for those interested in buying goods for investment or personal use.
On average, 150 properties are auctioned every week, sometimes up to 60 in a single day. Few people attend this type of auction largely due to the vast lack of information available to the public about this process, the website developers said.
“Buying through the judicial system and other forums has marked benefits and is another viable purchase alternative. However, there are many auctions, while buyers and investors are lacking. Anyone can attend and bid on this type of auction without needing a license or paying to attend, except for private auctions that have their own requirements,” said Virgilio Víctor López, operations manager of E&S Group Inc.
“The public is unaware that weekly auctions are held in Puerto Rico that represent great buying and investment opportunities, as well as helping, to some extent, owners who are losing their properties,” López said.
“Buying goods through the judicial system as well as other forums has great advantages and is another purchase option. Our platform is the tool that allows access to the information necessary to participate and succeed in the auction processes in the different forums,” he said.
A subscription to the system provides access to auction-related information for a variety of properties such as: vehicles, boats, equipment, works of art, as well as real estate located in different regions of Puerto Rico.
The website provides a detailed description of the goods being auctioned, reports and observations, images, directions and maps to locate the goods, place and date where the auction will be held, and the initial bid, among other information.