Biess streamlines property auction process and offers 64 properties

The Banco del Instituto Ecuatoriano de Seguridad Social (Biess) has streamlined its process for qualifying applicants interested in purchasing foreclosed properties through auctions. The qualification period has been reduced from 25 days to just one week. According to General Manager Marco Acosta, this operational improvement is part of a broader modernization, transparency, and accessibility initiative led by President Daniel Noboa.

Biess has updated its digital auction portal, which now includes a catalog of 64 properties located in Guayas and Pichincha. Prices for these houses and apartments range from $29,625 to $251,967. Between January and July 2026, the institution recovered $1.8 million through the auction of 39 properties.

To participate, interested individuals must use the digital platform to complete three stages: registering an account, qualifying as a bidder, and submitting an offer. The registration process requires providing identification, a mobile number, and an email address, followed by security measures such as selecting verification questions and images.