In the current economic climate, there is significant value to be had on certain acquisitions – both residential and commercial, says MC du Toit, chief executive of auctions and sales for BidX1 South Africa, an online property trading platform.
“While post election we are generally seeing increased confidence in the property market, right now there is still value in good, solid investments to be found across all sectors, whether it be residential, office, retail or industrial.
“Value in such properties is currently available for investors and end users in several areas around the country, including … Sandton, Pretoria, Somerset West, Midrand, Benoni, Port Elizabeth, Bloemfontein, Witbank and Franschhoek, locations where we are currently offering exceptionally well-valued property opportunities at our next online auction on July 3. Included in the auction are a number of bank sales.”
Du Toit says of benefit to sellers is that the online auction method enables the entire process to be completely open and transparent.
By providing a reserve price, a seller indicates to the market the price he or she is willing to accept. This affords buyers the opportunity to then compete in order to acquire their preferred property.
Says Du Toit: “The online auction process allows buyers to negotiate for the property from anywhere around the country and even globally.”
Du Toit adds that it is a misconception that selling via auction does not achieve a sound market-related price.
“All properties are suitable to this method of sale as it enables all sellers the opportunity to present their property to the market and ask buyers the question – what is the best non-suspensive offer you are willing to offer me in the current market?
“Given the access to extensive online property information, today’s buyers now tend to be very informed regarding property values and what represents good value. This translates into our auction results being a win-win for both parties on the day.”
For more information visit https://bidx1.com/en/news/buying-property-south-africa-bidx1s-digital-platform or email email@example.com