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REVOLUTIONARY REAL ESTATE MARKETING STRATEGY A 1st FOR NEW ZEALAND.
Would you like the opportunity to own a 4 year old home, with 4 bedrooms, 2 bathrooms, 3 living rooms, and with 3 car garaging, that has a 2007 Christchurch City Council Valuation of $594,000 for as little as $100 ?
A Christchurch real estate agent has come up with a great way of marketing and selling his home. Premier Realty Ltd, managing director Brad Maxwell (a 25 year veteran of real estate explains).
Home affordability has become a major issue for most people around the world. Now for the cost of just NZ$100, you can purchase a seat in the company’s online auction room, and bid for this home.
But this is an auction with a unique difference, you place your bid based on what you think will be the LOWEST bid, and if you are the ONLY person to bid that amount, you will own the property, freehold. THE LOWEST INDIVIDUAL (UNIQUE) bid, buys the home at that price, and all bids must be between $0.01 and $1,000.
So you could be the successful bidder of this home for the cost of your seat in the auction rooms, ($100) plus the amount of your bid.
Like all auctions there is a reserve, which is based on the minimum number of seats to be sold in the auction room.
For instance the seller sets a reserve of say $400,000 for their home.
The cost of a seat is $100, so there is a minimum number of seats available of 4,000.
Once the minimum number of seats have been sold ie 4,000, the property will be sold.
(if the minimum number of seats are not sold, say only 2,000 seats are sold , the seller reserves the right to cancel the auction, and the bidders will receive a full refund of their purchase costs of the seat), or if it is close to the minimum say 3950 seats are sold the seller may elect to proceed with the auction.
There will be a limit to the number of seats sold over and above the minimum number.
The bidders by 1 or more seats in the online auction room at $100 per seat.
They can purchase 1 seat or 100 seats. For each seat purchased the owner of the seat can make a bid – based on what they think the lowest bid will be.
They can purchase 1 seat or 100 seats. For each seat purchased the owner of the seat can make a bid – based on what they think the lowest bid will be.
For example the bidder may bid say $1.56. when they place the bid it is locked in to the system. (No other bidder see’s or knows what the other bids are).
If this is the lowest individual (unique) bid, they win the auction and own the home outright, for the total cost of their seat ($100) plus the bid amount ($1.56), a total of say $101.56 could be all you’d pay for the home.
This could be the cheapest way of buying a property ever.
There is no risk to the potential bidders, as they are guaranteed a full refund of their seat purchase if the minimum number of seats for sale is not met, and the seller withdraws the property from sale.
The successful LOWEST bidder, will receive the title to the property upon payment of the bid price, and vacant possession of the property. They may of course decide to sell the property for a profit.
The first property to use this method is situated at 4 Willowview Drive, Redwood, Christchurch, has a Christchurch City Council 2007 Rateable Valuation of $594,000.
(This would be a fantastic home for a little over $100).
Statement Released by Brad Maxwell Managing Director and Auctioneer
Premier Realty Ltd MREINZ, 356 Main North Road, Redwood, Christchurch.
PH: 03 352 0134 or 027 614 5178, Fax 03 352 0152
email [email protected]
Premier Realty Ltd MREINZ, 356 Main North Road, Redwood, Christchurch.
PH: 03 352 0134 or 027 614 5178, Fax 03 352 0152
email [email protected]
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