"The savvy seller or investor knows the auction route can be instrumental in achieving a better price where good demand exists."
The misconception that auctions are reserved for distressed properties, or are hunting grounds for bargains, is steadily being corrected as more people opt for the auction floor, says PJ Veldhuizen, managing director of Gillan & Veldhuizen.
your asset because of its competitive mechanism. “It provides the seller with fair market-related prices, and creates opportunities
for buyers to acquire properties at prices they are comfortable with,” he says.
climate of 10 years ago, many property auctions occurred as a result of company closures or liquidations, with creditors, liquidators or
trustees preferring to use the auction method to dispose of assets, he says. “Banking institutions have for many years used the
auction process to sell property, based on its transparency and other factors, and have achieved excellent results. These results
are achieved through a larger pool of buyers and investors, with low cost to creditors.”
pay for the property, making the purchase is not subject to them obtaining finance.
or investor knows the auction route can be instrumental in achieving a better price where good demand exists, or producing a
result for a seller where no demand exists. In particular, auctions are able to produce a sale when a seller requires urgent disposal.
“You have a process that is strictly regulated and transparent and offers instantaneous results, as well as value for money for the buyer
and the seller.”