It is a small revolution in the world of real estate. If real estate agencies have decided to turn to sales or rentals in recent months goods by auction, wealth management firms are now cutting back on auctions. This type of sale is not new, the Kadran platform already launched in 2019, he explained progress, but others follow. This is the case of the company You sell, we buy (VVNA), located in Doubs. The principle is very simple: the commodity seller sets a high price for real estate and, every thirty seconds, the price drops in stages, and rises in traditional auctions.
He met a buyer TF1 decided to turn to this type of sale. He wants to acquire a building plot in Besançon. Starting price: 115,000 euros for 530 square meters. He set himself a maximum of 110,000 euros. So every thirty seconds, the price drops in steps of 500 euros : “I’m sweating a little, my hands are sweaty”, slips in the sale. It is then up to the potential buyer to click on the price they wish to buy. A stroke of luck this time for this father, he will be the first to click on 110,000 euros.
Very fast transactions
It was a lot for this man who visited the property in the morning: “In this period of many increases, it is a beautiful thing to be able to acquire a property at a lower price than what is being offered”, he explained to TF1. But what is the point of this type of sale? In reality, with the decline of the auction, the property returns to the market price. And, above all, it is a guarantee make a quick transaction. Because, in general, auctions don’t last long In another advertisement, a small house of 28 square meters in Pontarlier attracts potential buyers, about thirty in total.
The price of this incredible duplex rose to 700,000 euros in a few minutes
An investor has a maximum budget of 50,000 euros and the basic selling price is set at 70,000. No luck this time, another buyer will have it for 61,000 euros. Reduced auctions were previously used in agriculture, but for Pascal Py, co-founder of You sell, we buy (VVNA), this it also revives real estate sector. “Buyers have lost some of their budget as interest rates are taking up more space, so this is a solution that really gives them back their purchasing power.”, he says. The virtual offer has the same value as the paper offer. A sales agreement then it is written and then the sale is completed, this time in front of the notary.
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