Buying a property in the commodity exchange on 18 September 1401

According to Tejarat News, buying and selling property in Commodity Exchange It is less simple and more expensive.

According to the Young Journalists Club, the head of the management of economic studies and international affairs of the Commodity Exchange raised some points regarding the supply of real estate in this market.

Moin Mohammadipour said: In order to offer municipal properties on the Commodity Exchange platform, ongoing negotiations and consultations have been conducted by the Iran Commodity Exchange and the Securities and Exchange Organization with Tehran Municipality. Very effective collaborations were established in this field and the designed platform of real estate auction in this market was welcomed by Tehran municipality.

Many meetings were held and the efforts made in this direction caused the municipality to take all the necessary measures to offer and sell its properties on the commodity exchange. Among the measures taken, we can point out the necessary amendments in the sub-market instructions of the Iran Commodity Exchange in order to facilitate the acceptance and supply of municipal properties in this market.

The beginning of municipal real estate transactions is important from several aspects. First, these transactions facilitate the sale of immovable properties of the municipality, which can solve the problems of the municipality in the field of providing the required cash resources.

Second, these transactions are a very good opportunity for municipal contractors to verify their claims, because in accordance with the understanding between the Commodity Exchange and the municipality, this infrastructure has been provided, so that if it is included in the announcements of the municipal property supply, the contractors can instead of presenting a check in order to Settlement affairs should use remittances approved by the General Department of Financial Affairs and Municipal Property. Finally, it is hoped that this action of the municipality will be the first step in the path of real estate production for other government and public institutions, and after the municipality takes the lead, they will also take the path of transparency and accept and sell their properties in this market.

More details of municipal real estate offering in commodity exchange

Mohammadipour added: Currently, there are several properties of Tehran municipality in the physical market Commodity Exchange Accepted and transactions of these properties can be done in cash and installments. In this way, after participating in the auction and finalizing the transaction, the buyers settle a part of the value of the transaction in cash and a part in the form of a check.

As mentioned, contractors who have claims from the municipality, instead of presenting a check, can refer to the General Department of Finance and Property of the municipality, confirm their claims and obtain the settlement form, and naturally, there is no need to present a check for the purpose of settlement. This method is probably the fastest possible way to cash out their claims, because the whole process of doing the transaction until settlement and delivery will take between two to three months.

This is an important advantage for municipal contractors. Therefore, the physical market platform of the Commodity Exchange is fully available for municipalities and other public and government institutions, and they can easily use the benefits of selling in this market, such as marketing their properties and creating transparency in their internal accounts.

What is the state of municipal real estate supply now?

He explained: As a result of the negotiations and cooperation between the Tehran Municipality and the Iran Commodity Exchange, a number of municipal properties are under acceptance and two properties have been accepted by the municipality, so that they have gone through the acceptance process completely and now The announcement of their release is on the website of the commodity exchange and their auction day is 23 Shahrivar.

Buyers can view these supply announcements by visiting the stock exchange website. In addition to the fact that all the information of the property, including the size, type and appearance of the building, etc., is recorded in this notice, the report of the official expert of the property, as well as the affidavit that is to be signed by the parties to the transaction after the auction, can be seen in it. This shows the degree of transparency provided by the stock exchange. This means that the buyers can declare their purchase request to the commodity exchange through a brokerage by viewing all the documents and visiting the property in person.

After obtaining the transaction code of the physical market and depositing the required guarantees on their behalf, the buyers can place an order through a broker on the day of the auction, and in competition with others, if they wish, they can offer a higher price in order to win. If they win the auction, they enter the settlement and delivery processes. That is, they will sign the property affidavit together with the seller, settle the required cash and checks according to the dates listed in the offer notice, and the property will be handed over and the document drawn up within the deadlines specified in the affidavit.

Procedures for accepting and offering real estate in the commodity exchange

Head of the management of economic studies and international affairs Commodity Exchange He said: Accepting and conducting transactions in the commodity exchange is very simple and low-cost, unlike transactions in other markets outside the commodity exchange or auctions through government institutions. First, the acceptance of real estate is exempt from payment of the acceptance fee. The only process that needs to be followed is that the supplier receives the trading code of the physical market and then sends the required documents such as the official property document and the official property expert report to the commodity exchange through the broker. The most important point that must be observed in this regard is the legal status of the property. This means that the property should not be shared and only if ownership of 6 dong property is verified, the property can be sold on the commodity exchange.

The second case is that the property is not the subject of a lawsuit and no other person claims ownership of the relevant property. In this regard, registered inquiries are also made. If the property is under lease, its official lease must be disclosed so that there is no ambiguity about the ownership status of the property. After accepting the property in the stock exchange, the supplier deposits a percentage of the basic value of the property as a guarantee with the commodity exchange and is ready for the auction day.

On the other hand, buyers should receive the transaction code of the physical market and deposit a part of the basic value of the property with the stock exchange as an advance payment and make the necessary arrangements with their broker to register the order on the day of the auction.

As can be seen, both suppliers and buyers can easily deal with property without all the formalities and transaction costs of traditional markets.

It should be noted that the release of the mentioned prepayment will be done quickly if the buyer is not the winner of the auction. If the applicant wins the auction, he will deposit the remaining cash part of the transaction and actually enter the settlement process.

What are the advantages of accepting and trading real estate in the stock market?

Moin Mohammadipour added: Perhaps it can be said that the most important advantage of real estate transactions in the commodity exchange is the certainty of the transaction. This means that when the relevant property is placed on the board of the commodity exchange, it means that all the necessary checks and evaluations have been done by the supplier. All the internal bureaucratic processes of government and public institutions have been completed and the buyer can be sure that winning the auction means the definitive delivery of the property. The mentioned guarantees are also important in this regard.

In this way, the fulfillment of the obligations of both sides of the transaction is guaranteed through the same amounts deposited by the Commodity Exchange. There is no such guarantee of obligations in FIM contracts between the parties outside the commodity exchange. In addition to this, the stock exchange officially publishes all the information related to the property, the supplier and the settlement method before the sale and makes it known to the public. become a market This dissemination of information is also important from other aspects. In the sense that it makes the applicants buy without ambiguity and knowing all the conditions of the transaction.

Should we wait for real estate transactions of other government and public institutions in the stock market?

Mohammadipour explained: The Commodity Exchange is ready to cooperate in accepting and auctioning the properties of all government institutions and banks.

In order to facilitate the legal infrastructure and ensure the confidence of the banks, a decision was taken from the central bank last year by the commodity exchange that banks can sell their surplus properties on the basis of the commodity exchange.

This year, Mellat Bank and Novin Funding Company have accepted their properties. After acceptance, if they want to sell them, they should send a sales form to the commodity exchange, which, of course, has not been done yet. Other banks are also going through their own internal bureaucratic processes to list properties. As soon as they express their desire to accept the properties, the commodity exchange will promptly process this request and make the necessary measures and arrangements for the sale and auction of their properties.

With these words, it seems that if there is determination in other institutions to offer real estate in the commodity exchange, we can witness a very successful performance in the field of real estate production. Because the Commodity Exchange has provided all the necessary infrastructure for this purpose and is ready for future cooperation with these institutions.