HBFC Property Auction Notice 2026 – Mortgaged Properties in Punjab and Sindh

House Building Finance Company Limited (HBFC) invites buyers to participate in auctions of mortgaged properties under Section 15 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. Bid reference: HBFC/HOK/GSD/2024/10.

HBFC intends to apply the auction proceeds towards the outstanding mortgage liabilities of defaulting customers. The customers were issued three notices for payment after their liabilities were determined by an independent chartered accountancy firm, but did not settle the outstanding amounts within the stipulated periods.

All auctions will take place on-site at 11:00 a.m. The property schedules, outstanding balances and reserve prices are given below. Amounts are in Pakistani rupees.

Branch contacts and addresses

Terms and conditions of the auction

1. The mortgaged properties will be sold on an as-is-where-is basis.

2. Interested bidders must submit a pay order or demand draft equal to 25% of the reserve price or PKR 300,000, whichever is lower, at least 30 minutes before the property's auction.

3. The highest bidder will be declared successful.

4. The successful bidder must deposit 25% of the bid price within two business days of the auction date.

5. The remaining 75% of the bid price must be deposited within 15 days of the date on which the initial deposit is required.

6. Upon receipt of the full bid amount, the concerned Branch Manager and/or HBFC's authorized attorney will execute the sale deed in favour of the successful bidder after seven days have elapsed from completion of the public auction for sale of the mortgaged property.

7. If the successful bidder fails to deposit the balance amounts within the required periods, all deposited amounts will be forfeited and the property may be re-auctioned.

8. HBFC may, at its discretion, participate in the public auction and purchase the mortgaged property for an amount 10% higher than the highest bid obtained in the public auction.

9. The successful bidder must pay taxes, fees and other applicable charges under the prevailing rules.

10. HBFC reserves the right to postpone or cancel the auction without assigning any reason.

11. The auction is without prejudice to all other legal rights and remedies available to HBFC.

Cost of funds: The cost of funds is determined under the State Bank of Pakistan circular from the date of the customer's default. If the customer fails to pay the outstanding liability, the cost of funds will continue to be charged until realization of the outstanding amount under Section 3 of the Financial Institutions (Recovery of Finances) Ordinance, 2001. It is calculated from the next business day following the transaction's due date. For cases in which the investment period has not ended, the cost of funds is charged until the day before the report date.

Issued by: Head – Collections & Recovery, House Building Finance Company Limited. Head Office: Third floor, FTC Building, Shahrah-e-Faisal, Karachi. Telephone: 021-35641747. Website: www.hbfc.com.pk.