Property auctioneers in Cape Town have more properties than ever to offer buyers. Because more repossessed properties are around in the market in these times.
The first auction companies started in South Africa in 1928. Now the auction market is larger.
Lots of sales areas include auctions. Such as livestock, vehicles, agricultural, estate and more. One of the fastest growing is the property market. With a success rate of over 70%.
Houses are not only on auction because of people not paying. Many people put their property up for auction. Before giving the sale to real estate agents.
In Australia, over 85% of real estate sells through an auction. In South Africa, auction sales are usually deceased estates and repossession properties.
However, real estate is changing and auctions are now a more popular way to buy and sell property in Cape Town.
Property Auctioneers in Cape Town – buying and selling on auction
- Buying on auction can be an advantage. Because people who sell their property on auction often need the money from the sale as soon as possible. This means that properties that sell on auction may go for lower prices than properties selling the normal way.
- If you have non-performing property, it is gaining interest, maintenance costs, insurance and taxes. Selling now on auction allows you to get the money back. Properties selling on auction can go quicker than properties sold privately or through estate agents.
- Conversion is quicker through an auction process and the money for the property may be made more available.
Property auctioneers in Cape Town and around South Africa
- Private Property is an online property auctioneer with an online auction feature. That makes buying a house on auction easier. They have got together with Bidorbuy. Which allows you to enjoy all the auction excitement from your own home. Every effort is made by Private Property to ensure the safety of each deal.
- Auction Roster gives property auctions in Cape Town. That offer top quality properties at nice prices with good rates for property sellers. In addition, Auction Roster also offers free property evaluations for those interested in auctioning their property. To make sure that you know the value of your house before you put it up for auction.
- Auction Alliance is an auctioneer in Cape Town that offers both commercial and residential properties.
- SAhometraders is a property website. That lists the properties up for auction by auction houses. This can be great to compare the properties available and choose the best deal (www.sahometraders.co.za).
Most auction houses host weekly auctions around Cape Town. They show different properties on offer.
How do I buy property through online auctions?
Online auctioneers are more popular now. Especially as more people use the internet. Therefore buying property through online auctions is an easy process.
Two weeks before the bidding opens of the properties listed, you can check out the property details and dates. Therefore to get an idea of which property you would like to bid on.
You can also sign up for weekly auction updates via email. Auction days are usually open weekly, for a 12 hour period from 8.00am to 8.00pm.
The property is sold to the highest bidder as long as the highest bid is more or at least meets the initial Reserve Price the seller lists.
When you buy property on auction, it is important to do your research so that you get a good deal. Have a look at the prices of similar properties so that you can price the one you want.