Real estate auctions can reduce the temptation to sell or buy a property at an unexpected price. It is an online auction that starts every thirty seconds at a decreasing price.
Faced with a stiff real estate market, still weighed down by high prices and credit rates that haven’t fallen enough to fuel a hoped-for recovery, auctions are dwindling and creating opportunities for people in a hurry. To sell or buy property. This process is a credit to wealth management companies who have considered this option to revive the sector. A good deal can now be completed quickly with one click.
How to participate in a declining auction
To begin with, you must first go to a site dedicated to this market. If you don’t have a specific one, just enter ” Real estate auctions are going down » Which search engine will direct you to many platforms to choose from, instantly. By accessing it, the goods (premises, housing, land etc.) are displayed with the starting price and date of auction (date and time).
When the time comes, it will be necessary to adopt the principle of participation in the auction: on the one hand, the trader or seller of goods who virtually usually sets the highest price, and on the other hand, the participants who wait for the right moment. to complete the purchase.
The price decreases every 30 seconds
In fact, from the start of the auction, the price will gradually decrease in steps of 500 euros with each sound of the signal every 30 seconds.
Sylvie, a mother, and her daughter Sandra are at their computer in a municipality on the banks of the Oise. They participate in an auction for the acquisition of an apartment in a neighboring town for the family’s eldest son, Marco, who wants to be independent. So the auction starts at 145,000 euros.
Every 30 seconds, the bell rings and each time the price drops by 500 euros. Then the price dropped to 144,500, then 144,000, then 143,500… After the second ring, when the price dropped to 129,000 euros, Sandra pointed out to her mother that it might be time to click, because, at the same time, an auction appeared on the screen. 11 other participants can also get the deal by clicking first. Silvia then puts her finger on the button at 128,500. She has just achieved what she wanted as her son spoke of his intention to set her up on her own. Additionally, at an unexpected price compared to the proposals she received from the various agencies she contacted.
It still remains for him to consolidate this transaction with the sale agreement and have it duly signed before a notary. ” Buyers have lost a certain amount of their budget because the interest rate has taken up more space, so it’s really a solution that gives them back purchasing power. Comments Pascal Py, co-founder of a specialized firm in Besançon, on TF1 which devotes a report to the subject.
