Benefits of buying a property through auction

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Bargains

Everyone likes the chance of a bargain, and property auctions are an ideal place to bag a cheap deal. Some of the properties will be bank repossessed, under liquidation , and deputy sheriff  properties that must go hence sold through auction at competitive prices.

Speed

There is no quicker way to buy a house. With a fixed timescale known from the beginning, you will be completing your purchase within  a shorter period of time as compared to a private treaty sale. You will know how long you have to carry out any inspections or paperwork enquired, with no risk of missing out of the purchase.

Opportunity

Often, lots up for auction offer the prospect of adding value to the property through improvements, change of use (subject to planning permission), or conversion to suit your needs and requirements. This can help to generate higher resale profits, and for buyers looking for these types of property, auction is the best option.

No Surprises

As an estate agent registered with the Real Estate Council of Zimbabwe,we aim to provide all relevant documentation prior to auction. This includes information such as searches, title deeds, leases for tenanted property, as well as any relevant planning permissions.

Fair Chance

There is a level playing field when buying at auction, everyone has their opportunity to place their bids, rather than a first come first serve environment which is common with estate agents. However, if you are very keen on a particular lot,  but  you are unable to attend you can fill in a proxy bid, which would need to be very strong and at a level that might not be reached with competitive bidding in the auction room.

Competitive Bidding

With  an auction bidding process, you only need to stay one bid ahead of your competitors and reach the reserve price to be successful. When bidding against other interested parties, you can gain the reassurance that others share the same opinion of the property’s value, and you can also be in with the chance of having the winning bid at a far lower price than you anticipated.

Immediate Income

If you are a property investor looking for buy to let houses,  you can benefit from tenanted stock, which mean you will start to receive rental income right from the day of legal completion.

For more information please contact our sales team: +263 (4) 790568,+263 (4) 790603
Or visit our site: http://www.hammerandtonguesrealestate.co.zw

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