The most effective and new innovative way to reduce the time, stress and hassle of buying and selling a property is with a Non-Distressed Auction! Granted the Real Estate Agents will have to work harder, but there are many benefits for both the buyer and seller during a live auction.
The process takes about 6 weeks as it has a set schedule, and for a small fee, you can put your property on a non-distressed auction. Before the live auction, the Real Estate Agent will arrange open hours with the seller, for pre-qualified buyers who are able to view the property by appointment only. This ensures that only serious buyers who can afford the property are included and you know their buying power before they enter the property. If the buyers are interested after the viewing, they can either make an offer right away or they can attend an auction, which is live online.
The good news is that there is a reserve price, and on the off chance it is not achieved (or exceeded) then the seller can go back to a sole mandate or open mandate and can sell in the traditional manner.
Although not everyone knows what the reserve price is, there is complete transparency during the whole process and if the bidding does not reach the reserved price, the seller is under no obligation to sell. This situation will also give the seller a good indication of what buyers are willing to pay and if their asking price is too high. The market will determine the property value, as educated buyers will have done research on the area, locations and the property facilities.
Unfortunately, there are a lot of misconceptions around auctions as people are nervous that they will not receive what they are paying for, or that they will not sell for the price that they are looking for. But as it turns out, the quick and simple success of a non-distressed auction is quickly becoming the preferred method of buying and selling property. If you are a serious buyer who wants to be included in the process contact please Select a Bond to arrange your pre-qualification.
Martin 082 447 3463 or
Shannon (in the Western Cape) 084 701 2865