The Bidding Process in Real Estate Market

The bidding process in real estate market

The modern method of auction is proving to revolutionize the way properties are bought and sold all around the world. By putting the process in the online platform, buying and selling properties becomes accessible, quick and easy. United States, Australia and United Kingdom have become the leading countries using this platform as sellers are becoming more aware of the advantages of selling their property on Auction. Yet, this manner of selling properties is becoming very popular worldwide.

Venbona AG offers an innovative online property auction platform that is changing the way properties are bought and sold at auctions in Switzerland, Germany and Austria. It is shaking up the property market making property sales quicker, more secure, less intimidating and most importantly it is encouraging transparency.

The online auction process is designed to be quick and easy and is fast becoming one of the most popular methods of buying and selling property. It is a transparent sales process where upfront information about the property allows informed decisions to be made on the purchase.

Firstly, once a buyer has identified a property they are interested in, they must register online before placing a bid. The starting bid is published for each property and is for guidance only; it is not the price the property is being sold for.

Once you a prospective buyer has placed their bid, they will be notified via email. When counter-bidding on a property, buyers must increase by a minimum CHF…….. on the previous bid. All properties will be offered until the end of the auction period unless instructed by the seller to accept an offer prior to this.

The advantages of buying a property this way:
1- Transparency – all offers are negotiated in the open, nothing is hidden from public view.
2- Security – win the bid, sign the contract and the property is secured.
3- Speed.
4- Open market values – the final price is set by the market, not by the agent or vendor.

Owners selling their property through an online auction platform, will benefit from not only lower selling rates, but also an efficient way to achieve a quick and secure sale.

Here are some of the key advantages:
1- 0% commission – no estate agency fees.
2- Best market price achieved – competitive bidding will ensure the best possible price is achieved.
3- Funds received quickly.

Venbona’s concept is first based on openness and transparency between buyers and sellers to achieve the true market value for residential and commercial properties with bidding process in Swiss Real Estate Market.

Sources & Graphics: Made in PropTech Switzerland