Auctions are not solely associated with distressed sales. Sophisticated buyers and sellers of property recognize that auctions can be a highly effective method for facilitating successful transactions.
Property auctions provide a transparent platform where interested parties can competitively bid on a property, ensuring that it achieves its true market value. This process often leads to faster sales and eliminates the uncertainties and delays commonly associated with traditional negotiation methods.
Furthermore, auctions attract a wide range of potential buyers, including serious investors and motivated individuals who are ready to make immediate purchasing decisions. At Blue Property Group, we understand the value of auctions as a powerful tool in the real estate market. Our team of professionals is experienced in conducting successful property auctions, ensuring a smooth and efficient process for both buyers and sellers. Should you be interested in exploring the option of an auction for your property, we would be happy to provide you with further information and discuss the advantages it can offer.
Fee Structure
Other than the agreed contribution to marketing expenses there is NO COST to the seller. The purchaser pays a buyer’s premium or commission on the transaction.
The Seller
Retains control of the sale process
Conclude the sale within a short period
No numerous viewings on different days. Viewings are conducted an hour before the auction starts
Can make informed decisions
Have the right to set their minimum price at an auction
Qualified Buyers
Normally, the lack of financing is a common hurdle to selling property out of hand or with the use of a broker where a high percentage of deals may not be approved by finance companies or banks and therefore fail, leaving the seller without a result. Auctions expand the market audience for a seller on a cash and voetstoots basis; with qualified buyers coming fully prepared to make property investments. While buyers may still obtain finance to pay for the property. The sale is not subject to the buyer obtaining finance.
Voetstoots Applies
The basic purpose of the voetstoots clause is to protect the seller from any action by the buyer (on discovering any defects that are not obvious with inspection or the seller was not aware of when transacting) to jeopardize the actual sale contract.
The Price is Right
The sophisticated seller or investor knows that the auction route is instrumental in achieving a better price where good demand exists or producing a result for a seller where no demand exists. Auctions of immovable property produce a sale where a seller requires results with the sale of a property where traditional marketing and sale methods have not been able to produce any significant result.
Please feel free to contact us if you have any inquiries regarding property auctions or if you would like to delve deeper into the topic.
We are readily available to provide assistance and help you make well-informed decisions regarding your property transactions.
Contact Us:
Head Office:
011 807 1127/084 5555 900
Omlee Office Park, 13 Tambach Road, Sunninghill, Sunninghill, Sandton