Bidding Process

In today's digital age, it is (almost) always easier to sell a property. However, or of course only if the price is in line with the market!

In this article, we would like to present another option that may give you a higher price than a traditional real estate sale.

bidding process | digital bidding process

You have probably heard this term before. But what does that mean and how does it work?

In a bidding process, the same thing happens as in a normal sale. You start with a sales ad, depending on the portal you can even enter it without a price.

Our tip : "It is advisable to mention a minimum price in the offer, so as not to be surprised afterwards."

In the text of the ad, you then refer to the bidding process and can also name fixed viewing appointments here, but of course you don't have to.

Anyone who comes to the viewing should then be able to obtain detailed information about the property. So be prepared accordingly and ideally have all the relevant documents ready. You can find out what these are in our checklist (click here to go to the checklist).

The more interested parties come, the better!

If prospects see that many are interested in the property, this may lead to a better final price. Sometimes, however, this can also be the opposite, since not every potential buyer wants to take part in a bidding process.

If prospects see that many are interested in the property, this may lead to a better final price. Sometimes, however, this can also be the opposite, since not every potential buyer wants to take part in a bidding process.

Who can bid?

All interested parties who want to bid for your property must be admitted to the bidding process by you. This could be done, for example, by a financing commitment or proof of capital.

By allowing participants, you ensure that only people with a serious interest in your property participate in the bidding process.

The offer phase

During the offer phase, you can sit back, relax and follow what is happening live on your PC. Interested parties, in turn, can place bids online as often as they like. All bids received are anonymously visible to participants, so that every interested party can react immediately and correct/increase their bid.

After the end of the bidding process, you or, if you have commissioned us, we will contact the highest bidder and discuss the further procedure for the conclusion of a purchase contract. However, if no purchase contract can be concluded with the highest bidder, there is the option of concluding the contract with the second or third highest bidder.

Interested or do you have any questions? Then contact us! Your Mainhattan real estate team will be happy to support you.

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