Government Auction for Confiscated Real Estate Properties

The Mexican government held an auction on June 23rd for 27 real estate properties that had been confiscated by the government, primarily properties previously held by narco-trafficers. 

The 27 parcels were located in 11 states, while 10 were located in México state alone. All were confiscated by the Attorney General’s Office (FGR) or federal courts. The total starting price of the properties is about 176.5 million pesos (US $9.2 million). One property was a house in Cancún (shown in picture) valued at 9.7 million pesos. Another property was part of the Centenario Ranch in Jilotepec, México state, which was confiscated after police found a methamphetamine laboratory there in 2011.

One can’t help but think that people would be a little hesitant to participate in such an auction. For at some point in time the previous owner will get out of jail and just might want the property back, no matter what you, or the may government have to say about the matter. They tend to play by their own rules, as we are all too aware.

Previously reported in the Mexico Daily News.