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BEST PRICE THROUGH BIDDING PROCESS

Bidding processes are enjoying increasing popularity on the Austrian real estate market. No wonder, as this sales tool enables sales revenues that are usually not achievable with standard marketing measures.

WHICH PROPERTIES ARE SUITABLE FOR A BIDDING PROCESS?

  • Top properties in the high-priced segment
  • Properties that have been on the market for a long time
  • Special properties that are unique due to their characteristics
  • Properties in locations where properties are rarely sold and it is therefore difficult to set a sales price due to a lack of sales history

WHAT ARE THE ADVANTAGES OF A BIDDING PROCEDURE FOR THE SELLER?

  • Faster sales proceeds through quick processing: The bidding process enables the real estate to be sold promptly with the certainty of achieving the best possible price that is currently available on the market.
  • Time savings through full service from the broker: We take over the entire organization of the bidding process including the complete preparation of the documents, preparation of exposé, advertising of the property, viewing appointments with interested parties, solicitation of purchase offers, contract processing and handover of the property.
  • Freedom of choice: The seller can freely decide whether to accept one of the purchase offers. The seller is not obliged to accept an offer to buy, unless a sale at a minimum price has been agreed with the broker in advance.

HOW DOES THE BIDDING PROCESS WORK?

  1. Preparation of the property for sale: Obtaining all relevant documents, such as building-approved plans, various permits, ongoing (operating) costs by our brokers.
  2. Optical “upgrading” of the property: If necessary, the property is made ready for sale through measures such as painting, clearing or home staging. Our brokers will be happy to advise you which measures are sensible and beneficial.
  3. Marketing: We will advertise the property on a massive scale for several weeks and also offer it to our selected customer base.
  4. Viewing appointments: During the application phase, inspections with interested parties take place on pre-determined “open house days”. These appointments are timed in such a way that everyone who is interested can feel that there is great demand for the property on offer.
  5. Submission of a purchase offer: At the end of the application phase, which usually lasts three to six weeks, the interested parties must submit their binding purchase offer to the broker by the set deadline. These are then forwarded by the broker to the seller for review.
  6. Decision phase: Now the seller can consider which of the available offers he will choose. If no offer corresponds, the seller does not have to sell. In this case, a new sales strategy will be agreed with the broker.
  7. Purchase contract: If a purchase offer is accepted, the broker initiates the drawing up of the contract and accompanies the seller and buyer until the property is handed over.

Our agents will be happy to inform you about the detailed process the bidding. Please contact us.