BuyProperty launches a new property auction in Portugal

BuyProperty launches a new property auction in Portugal

Brand new online real estate auction in Carteira, Portugal.

Brand new online real estate auction in Carteira, Portugal.

Brand new online real estate auction in Carteira, Portugal.

BuyProperty.com is launching a brand new feature that allows sellers and their agents to auction their homes to the highest bidder in Portugal.

Not accepting the offer of the first buyer means that sellers can earn 7-12% more when selling at auction.

— Scott Kirk, BuyProperty.com CEO

LISBON, PORTUGAL, September 6, 2022 /EINPresswire.com/ — In times of housing shortage, when there are many buyers for every property, selling your property to the first buyer means you could get more if other buyers bid. Less professional real estate agents will sell to the first buyer as they want to close the deal quickly, earn a commission and move on to the next property as soon as possible. They shouldn’t pay extra fees to keep the property on the market, while the seller could earn 20-30 thousand more if he waited. Auctions solve this problem by allowing many agents and their buyers to bid for the same property. The final auction price is the true value of the property.

Bidders are screened throughout the bidding process and begin by verifying their phone number when placing their first bid. Once the reserve is reached and the bidding process slows down, the best bidders will be further vetted and proof of funds may be required. When the auction is closed, the highest bidder has 2 business days to sign the promissory note and provide proof of a 10% deposit. Failure to do so within the allotted time will result in the property being sold to the next highest bidder.

The auction period lasts 2 weeks and is completely online. To deter bidders from bidding at the last minute, Buy property the auction resets to 24 hours if the remaining time is less. This negates any advantage of last-second bidding and ensures that all potential bidders have an equal chance.

This is the first property beautiful 3-room apartment 500 m from the beach in Quarteirawill be auctioned on September 15, 2022. Item ID: BP2654136.

Scott Kirk
Buy property
+351 918410171
[email protected]
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