Auctions

Of late, commercial property auctions have become the method of choice when putting real estate on the market. Therefore, Galetti Commercial and Industrial has endeavoured to affiliate with the biggest national auction houses in South Africa.

The benefits of commercial real estate auctions include the following:

• A mandate price is agreed upon with the auctioneer. Should this price not be achieved, you are not obliged to accept the offer. There is therefore no risk of selling your property for less than you feel it is worth.
• It is quite possible, at times, to achieve in excess of mandate price on commercial- and industrial property auction.
• Commission is paid for by the buyer.
• The auctioneer will invest generously in marketing and advertising your property.
• Often property is sold prior to auction, should an acceptable offer be submitted.
• Auctions are easy and convenient and have the distinction of drawing attention to your property.
• Auctions are engineered to represent the seller, not the buyer.
• You will never encounter a price ceiling.
• Buyers attend auctions with the intent to buy.
• By quickly disposing of your property you will reduce the burden of long term costs associated with commercial property, e.g. taxes and maintenance.
• Your property is exposed to a large number of pre-qualified prospects in a way that accelerates the sales process.
• Auctions create competition among buyers and therefore prices often exceed that of a negotiated sale.
• To buy at auction, potential buyers are required to qualify for financing beforehand.
• You know exactly when your property will sell and are able to set terms and conditions of the sale.
• It eliminates the need for numerous showings that may be inconvenient due to time constraints.
• You, as the owner of the property, are eliminated from the negotiation process.
• Auctions entail an aggressive marketing program that boosts interest in, and visibility of, the property in question.
• The competition between other ,similar properties in your area is eliminated

Contact us if you would like a meeting or more information pertaining to commercial property auctions in South Africa.