Six Steps to Find the Perfect Office Space in BGC [realestate]
Finding an office in a leading location can be a daunting task. So many options are available, and you will have to choose after doing a comprehensive research. You will also have to know where to begin and what you need. Without making it more confusing, let us delve deeper into the six key steps that help you choose the best option among the offices in BGC.
Six steps to choose an office in BGC
1. Find the needs
Your needs will define your future office space. Determine your needs first. Take your time to identify and comprehend those needs. Do you have any business expansion plans for the next few years? Are you looking for special projects or have to hire a workforce? Consider the factor of renting an office space after you have done your homework to determine your current needs.
2. Flexible infrastructure solutions
More than four walls and ceilings will define your office. It must have specific requirements that can support your business operations well. On the other hand, your employees will also have some expectations regarding joining an office. Hence, the infrastructure of an office must be up to the mark for well-acclaimed seat leasing facilities, enclosed private offices, and versatile coworking spaces. This infra must include amenities, services, car parking, seating arrangements, meeting rooms, etc.
3. Strategic Location
The next step is to check for the probable locations of your new office. Make sure you have chosen the leading areas in the city that employees and clients prefer visiting. The flexibility in commute also becomes a factor for the employees. Hence, your next focus should be on the location part of your new office space.
Determine a few leading locations and start scouting the best offices in BGC to rent. Check the services offered by these offices and jot down to make a list.
4. Seek information and compare
Ask for the correct information related to office space layouts from the service providers. Give them a call and explain what you need. Gather detailed information for all the leading options on your list and start comparing them.
Ask for quotes from the authorities and compare these names. Make a short list of those offices and check what amenities you can get in those service packages. Make sure you ask for the best pointers and features that make an office space a lucrative option from the service provider.
5. Visit or take a virtual tour
Visit the probable office spaces physically or take a virtual tour. Check the business and non-business facilities offered thoroughly.
6. Negotiate and put in an offer
Choose one of the suitable options you have found and make an offer. Explain the services you need and set a package you will have to afford every month.
Conclusion
This is how you can find the most amazing offices in BGC to choose from. Make sure you get customized office solutions.
Six steps to choose an office in BGC
1. Find the needs
Your needs will define your future office space. Determine your needs first. Take your time to identify and comprehend those needs. Do you have any business expansion plans for the next few years? Are you looking for special projects or have to hire a workforce? Consider the factor of renting an office space after you have done your homework to determine your current needs.
2. Flexible infrastructure solutions
More than four walls and ceilings will define your office. It must have specific requirements that can support your business operations well. On the other hand, your employees will also have some expectations regarding joining an office. Hence, the infrastructure of an office must be up to the mark for well-acclaimed seat leasing facilities, enclosed private offices, and versatile coworking spaces. This infra must include amenities, services, car parking, seating arrangements, meeting rooms, etc.
3. Strategic Location
The next step is to check for the probable locations of your new office. Make sure you have chosen the leading areas in the city that employees and clients prefer visiting. The flexibility in commute also becomes a factor for the employees. Hence, your next focus should be on the location part of your new office space.
Determine a few leading locations and start scouting the best offices in BGC to rent. Check the services offered by these offices and jot down to make a list.
4. Seek information and compare
Ask for the correct information related to office space layouts from the service providers. Give them a call and explain what you need. Gather detailed information for all the leading options on your list and start comparing them.
Ask for quotes from the authorities and compare these names. Make a short list of those offices and check what amenities you can get in those service packages. Make sure you ask for the best pointers and features that make an office space a lucrative option from the service provider.
5. Visit or take a virtual tour
Visit the probable office spaces physically or take a virtual tour. Check the business and non-business facilities offered thoroughly.
6. Negotiate and put in an offer
Choose one of the suitable options you have found and make an offer. Explain the services you need and set a package you will have to afford every month.
Conclusion
This is how you can find the most amazing offices in BGC to choose from. Make sure you get customized office solutions.
Why is co-working a Growing Trend in the Philippines ? [realestate]
Over the years, the Philippines have become a popular choice for multinational companies to open new workstations to increase their reach in the Asian continent. The government offers exclusive benefits to those businesses interested in enriching its economy. From offering tax holidays and incentives, the government has designed the perfect places to work for such companies.
In recent years, many businesses and professionals have chosen the idea of co-working spaces to work in this country and enjoy the financial benefits. Over the decade, it has become a trend to kick-start a business to meet professional requirements by renting a coworking space in Manila or other business districts. Let us find out why this idea has gained so much popularity.
Reasons for the popularity of co-working space in the Philippines
1. Affordable choice
There is no need to invest a considerable amount at any stage of a business to avail of a world-class setup for conducting operations. The co-working space designs are so unique that they can fit perfectly into any requirement. The readymade spaces with all the modern facilities meet the expectation quite well. Business owners and professionals can easily rent a co-working space without spending a fortune on setting up a workstation.
It is highly affordaable and causes less financial burden than owning a commercial space or renting an entire floor of a building. The packages are affordable and ideal for start-ups, business owners, professionals, freelancers and even full-fledged organizations.
2. Flexible choices
The idea of co-working in Manila comes with complete flexibility. What does this mean, and why is it ideal for commercial operations? Imagine a growing business that needs a retail space to work. What if its requirement changes over the years? The idea of a co-working space in the Philippines will offer the best choices. You can upgrade your requirement based on prospects. It means a decision can be made by following the latest business needs and financial status, and you can control the outcome well.
3. Exclusive modern services
There is no need to spend much money on hiring non-business staff when the co-working space authority offers it. It means when a business rents space in such a facility, the services such as reception, concierge, maintenance, office supplies, cafeteria, seminar rooms, meeting rooms, etc., can all be availed of without a hassle.
Business owners can also choose a package and customize it according to their needs. It means they will pay for what they need and select. This a great way to save on many financial commitments as most of these non-business services are shared by business entities working in the same co-working office space.
Wrapping up
Great location and good services are the best features of this idea. You can find this type of setup in the top business districts of the Philippines that are attracting international business too. These points clearly explain why the idea of co-working space is trending now.
In recent years, many businesses and professionals have chosen the idea of co-working spaces to work in this country and enjoy the financial benefits. Over the decade, it has become a trend to kick-start a business to meet professional requirements by renting a coworking space in Manila or other business districts. Let us find out why this idea has gained so much popularity.
Reasons for the popularity of co-working space in the Philippines
1. Affordable choice
There is no need to invest a considerable amount at any stage of a business to avail of a world-class setup for conducting operations. The co-working space designs are so unique that they can fit perfectly into any requirement. The readymade spaces with all the modern facilities meet the expectation quite well. Business owners and professionals can easily rent a co-working space without spending a fortune on setting up a workstation.
It is highly affordaable and causes less financial burden than owning a commercial space or renting an entire floor of a building. The packages are affordable and ideal for start-ups, business owners, professionals, freelancers and even full-fledged organizations.
2. Flexible choices
The idea of co-working in Manila comes with complete flexibility. What does this mean, and why is it ideal for commercial operations? Imagine a growing business that needs a retail space to work. What if its requirement changes over the years? The idea of a co-working space in the Philippines will offer the best choices. You can upgrade your requirement based on prospects. It means a decision can be made by following the latest business needs and financial status, and you can control the outcome well.
3. Exclusive modern services
There is no need to spend much money on hiring non-business staff when the co-working space authority offers it. It means when a business rents space in such a facility, the services such as reception, concierge, maintenance, office supplies, cafeteria, seminar rooms, meeting rooms, etc., can all be availed of without a hassle.
Business owners can also choose a package and customize it according to their needs. It means they will pay for what they need and select. This a great way to save on many financial commitments as most of these non-business services are shared by business entities working in the same co-working office space.
Wrapping up
Great location and good services are the best features of this idea. You can find this type of setup in the top business districts of the Philippines that are attracting international business too. These points clearly explain why the idea of co-working space is trending now.
The Future of E Auctions of properties : Predictions and Trends [realestate]
The future of e-auctions of properties is an exciting topic that is on the minds of many people in the real estate industry. There are a lot of predictions and trends that are emerging as e-auctions become more popular and mainstream. Here are some of the key predictions and trends that are shaping the future of e-auctions of properties:
Increased adoption: One of the biggest trends in the future of e-auctions is the increased adoption of this method of buying and selling properties. E-auction is becoming more popular among both buyers and sellers because they offer a quick and convenient way to transact. In addition, e-auctions can help to drive up the price of a property because they create a sense of competition among buyers.
More transparency: Another trend that is likely to shape the future of e-auctions is increased transparency. With traditional auctions, it can be difficult to see the full history of a property or to know exactly what is being sold. With e-auctions, however, all of this information is easily accessible online, which makes the process more transparent and less prone to fraud.
Greater reach: Another trend that is likely to shape the future of e-auctions is the greater reach of these events. In the past, auctions were often limited to local buyers because they required physical attendance. With e-auctions, however, buyers from around the world can participate, which means that properties can fetch higher prices.
More specialized auctions: Another trend that is likely to shape the future of e-auctions is the emergence of more specialized auctions. For example, there may be e-auctions specifically for luxury properties, or for properties in certain locations. This will make it easier for buyers to find the properties that they are interested in and will also help to drive up the prices of these properties.
Greater use of technology: Finally, the future of e-auctions is likely to be shaped by the greater use of technology. As technology continues to advance, e-auctions will become more sophisticated and will be able to offer more features and benefits to buyers and sellers. This could include things like virtual tours of properties, or the ability to make bids in real-time.
Overall, the future of e-auctions of properties looks bright. With increased adoption, greater transparency, a wider reach, more specialized auctions, and the greater use of technology, e-auctions are set to become an even more popular and mainstream way of buying and selling properties.
タグ：E-auction
Get best auction properties at Auction bazaar - The Leading E Auction Portal [realestate]
Auction Bazaar is the leading e auction portal for auction properties, offering a wide range of residential, commercial, and land properties up for auction. Our platform makes it easy for buyers to find the best auction properties that meet their needs and budget.
One of the biggest advantages of using Auction Bazaar is our extensive selection of properties. We work with top banks, financial institutions,to bring a diverse range of properties to our platform. This means that you can find a wide range of options to choose from, whether you're looking for a new home, an investment property, or land to develop.
In addition to our selection, Auction Bazaar also makes it easy for buyers to find and bid on properties. Our platform is user-friendly and intuitive, and we offer a range of search and filtering tools to help you narrow down your options. You can search by location, property type, price range, and more to find the perfect auction property.
We also offer a range of resources and support to help buyers make informed decisions. Our team of experts is always available to answer questions and provide guidance, and we offer a range of educational materials and tools to help you understand the auction process and make the best possible bid.
If you're looking to find the best auction properties, Auction Bazaar is the place to start. With a wide selection of properties, user-friendly platform, and expert support, we make it easy for you to find the perfect auction property and make a winning bid. Start your search today and see the great deals available at Auction Bazaar.
Why Online Property Auctions are the Future of Real Estate Transactions [realestate]
Online property auctions are becoming an increasingly popular way for buyers and sellers to conduct real estate transactions. While traditional methods of buying and selling properties can be time-consuming and costly, online auctions offer a convenient, efficient, and cost-effective alternative. Here are some reasons why online property auctions are the future of real estate transactions:
Convenience: Online auctions allow buyers and sellers to participate from anywhere, at any time. This is particularly useful for buyers who may not be able to physically attend an auction in person.
Efficiency: Online property auctions are typically faster than traditional methods of buying and selling properties. This is because the entire process, from bidding to closing, can be done online, reducing the need for face-to-face meetings and paperwork.
Cost-effectiveness: Online auctions can save buyers and sellers money in several ways. For buyers, online auctions often have lower starting bids and lower buyer's premiums (fees paid by the buyer at the time of purchase). For sellers, online auctions can save on traditional marketing and advertising costs, as the auction itself serves as a form of advertising.
Greater reach: Online auctions allow buyers and sellers to connect with a global audience. This means that buyers have access to a wider range of properties, and sellers can potentially reach a larger pool of potential buyers.
Transparency: Online auctions provide a transparent and fair process for both buyers and sellers. Bids are recorded and available for all participants to see, ensuring that the highest bidder wins the auction.
Overall, the convenience, efficiency, cost-effectiveness, greater reach, and transparency of online property auctions make them an attractive option for both buyers and sellers. As technology continues to improve and more people become comfortable with online transactions, it is likely that online property auctions will become even more popular in the future.
Convenience: Online auctions allow buyers and sellers to participate from anywhere, at any time. This is particularly useful for buyers who may not be able to physically attend an auction in person.
Efficiency: Online property auctions are typically faster than traditional methods of buying and selling properties. This is because the entire process, from bidding to closing, can be done online, reducing the need for face-to-face meetings and paperwork.
Cost-effectiveness: Online auctions can save buyers and sellers money in several ways. For buyers, online auctions often have lower starting bids and lower buyer's premiums (fees paid by the buyer at the time of purchase). For sellers, online auctions can save on traditional marketing and advertising costs, as the auction itself serves as a form of advertising.
Greater reach: Online auctions allow buyers and sellers to connect with a global audience. This means that buyers have access to a wider range of properties, and sellers can potentially reach a larger pool of potential buyers.
Transparency: Online auctions provide a transparent and fair process for both buyers and sellers. Bids are recorded and available for all participants to see, ensuring that the highest bidder wins the auction.
Overall, the convenience, efficiency, cost-effectiveness, greater reach, and transparency of online property auctions make them an attractive option for both buyers and sellers. As technology continues to improve and more people become comfortable with online transactions, it is likely that online property auctions will become even more popular in the future.
Expert Insights: A Beginner's Guide to Bank Auction Properties [realestate]
If you're new to the world of real estate investing, you may have heard about bank auction properties as a potentially lucrative opportunity. But where do you even start? How do you find these properties, and what do you need to know before making a bid?
First things first: bank auction properties are properties that have been seized by the bank due to the previous owner's inability to make mortgage payments. These properties are then put up for auction to recoup the losses suffered by the bank.
One way to find bank auction properties is to search online auction websites, such as Auction.com or Foreclosure.com. These websites often have lists of properties that are coming up for auction, as well as information on the auction process and requirements. You can also check with your local county government or courthouse, as many auctions are held in person at these locations.
Before you make a bid on a bank auction property, it's important to do your due diligence. This means researching the property to get a sense of its value and any potential issues or repairs that may be needed. You should also be prepared to pay for the property in cash, as financing is not typically an option at auctions.
It's also a good idea to set a budget for yourself and stick to it. Auctions can be fast-paced and competitive, and it can be easy to get caught up in the excitement and overbid.
Finally, make sure to familiarize yourself with the terms of the auction. Some auctions may have a minimum bid requirement, while others may have a "buy it now" price. It's also important to understand any fees or taxes that may be associated with the purchase.
In conclusion, bank auction properties can be a great opportunity for real estate investors, but it's important to do your research and be prepared before making a bid. By following these expert insights, you'll be well on your way to success in the world of bank auction properties.
First things first: bank auction properties are properties that have been seized by the bank due to the previous owner's inability to make mortgage payments. These properties are then put up for auction to recoup the losses suffered by the bank.
One way to find bank auction properties is to search online auction websites, such as Auction.com or Foreclosure.com. These websites often have lists of properties that are coming up for auction, as well as information on the auction process and requirements. You can also check with your local county government or courthouse, as many auctions are held in person at these locations.
Before you make a bid on a bank auction property, it's important to do your due diligence. This means researching the property to get a sense of its value and any potential issues or repairs that may be needed. You should also be prepared to pay for the property in cash, as financing is not typically an option at auctions.
It's also a good idea to set a budget for yourself and stick to it. Auctions can be fast-paced and competitive, and it can be easy to get caught up in the excitement and overbid.
Finally, make sure to familiarize yourself with the terms of the auction. Some auctions may have a minimum bid requirement, while others may have a "buy it now" price. It's also important to understand any fees or taxes that may be associated with the purchase.
In conclusion, bank auction properties can be a great opportunity for real estate investors, but it's important to do your research and be prepared before making a bid. By following these expert insights, you'll be well on your way to success in the world of bank auction properties.
Benefits and Risks of Buying a Bank Auction Property [realestate]
For a good financial system, a sound banking system is a prerequisite. But, the existence of non-performing assets creates hurdles affecting the country's economic growth. An elevated NPA status level of NPAs indicates an elevated credit default possibility, thereby lowering the comprehensive efficiency and efficacy of the lending system. Banks tend to conduct different property auctions to recover their lost finances. These properties include agricultural, commercial, and residential properties. They sell off ‘bad properties’ those who have defaulted on loan payments. Citizens from all over the country are invited to participate in auctions and make bids based on their financial aspects and preferences.
“NPAs pose a challenge to banks because they reduce the profitability as well as the liquidity of banks.”
“As per Statista, Indian public sector banks collectively owed approximately 6.17 trillion Indian rupees in non-performing assets in fiscal year 2021. This value was much higher, at around 7.5 trillion rupees in the 2019 fiscal year, indicating a slow but slight relief for India's economy in terms of non-paying assets at public banks.”
While there are many advantages to buying properties at bank auctions, one cannot ignore the risks that come along with the process. The buyer requires due diligence before they bid for the property in an auction.
So, on that note, let us discuss the essential benefits and risks of buying properties during a property auction by a bank.
Benefits of Buying a Bank Auction Property
Below are some of the benefits of buying a property auctioned by the banks.
• Reduced Rates - With bank auction properties, one of the most notable benefits is that they come at lower and affordable rates. After the property evaluation by the bank, the prices are lowered by about 15 to 20% from the market price. Hence, buyers can always get the best deals while buying auctioned properties.
For e.g., The Debt Recovery Tribunal, Bengaluru, has sold the property owned by absconding businessman Vijay Mallya’s aviation company at almost one-third of its reserve price of Rs 135 crore set in the first auction conducted in 2016. Read more at:
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/vijay-mallyas-kingfisher-house-finally-sold-for-rs-52-25-crore-in-ninth-auction/articleshow/85310637.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
• Superb Locations - Certain or most properties auctioned by the banks are all located in posh and sophisticated areas. Hence, these properties are some of the most lucrative options for people.
• Instant Move-In Ready - In the case of these properties, one needn’t go through the whole process of remodelling and renovation unless one wants to. The bank-auctioned properties are entirely ready to move in and are secure for sure. After the deal is closed, the buyer can move in instantly, and the convenience is unparalleled. A brilliant investment tool not limited to just residential properties - there are industrial, commercial, agricultural - all types of properties.
Risks in Buying a Bank Auction Property
Let us look at some of the risks associated with property auctions by the bank. • Due diligence required - Bidders are always advised to perform their due diligence before making bids to make the most out of the purchasing experience. Participating in the auction is not enough since one must gather all the property details in the first place.
• Additional Costs - While bank-auctioned properties tend to be safe and secure, there is no telling about the additional costs it may have. Sometimes, it can be difficult for the buyers to assess the property’s condition properly, so making a decision becomes difficult for them.
• Outstanding Payments - The buyer's sole responsibility is to make payments of any outstanding dues related to the property. These dues can include statutory charges, society charges, municipal taxes, electricity bills and many others. These expenses might also include lease and litigation charges for the property.
The Way Forward
Buying a bank auction property can be both beneficial and risky. Purchasing a bank auction property needs focus, diligence and expertise with the involvement of multiple stakeholders apart from the lender and borrower. But with expert advice, the buyer can mitigate risks, and the buying process can be made smoother with a proactive approach to take corrective measures on time.
Contact our financial experts to help you identify early warning signals with the bank auction. To find and bid for the property of your choice, visit https://www.auctionbazaar.com/
“NPAs pose a challenge to banks because they reduce the profitability as well as the liquidity of banks.”
“As per Statista, Indian public sector banks collectively owed approximately 6.17 trillion Indian rupees in non-performing assets in fiscal year 2021. This value was much higher, at around 7.5 trillion rupees in the 2019 fiscal year, indicating a slow but slight relief for India's economy in terms of non-paying assets at public banks.”
While there are many advantages to buying properties at bank auctions, one cannot ignore the risks that come along with the process. The buyer requires due diligence before they bid for the property in an auction.
So, on that note, let us discuss the essential benefits and risks of buying properties during a property auction by a bank.
Benefits of Buying a Bank Auction Property
Below are some of the benefits of buying a property auctioned by the banks.
• Reduced Rates - With bank auction properties, one of the most notable benefits is that they come at lower and affordable rates. After the property evaluation by the bank, the prices are lowered by about 15 to 20% from the market price. Hence, buyers can always get the best deals while buying auctioned properties.
For e.g., The Debt Recovery Tribunal, Bengaluru, has sold the property owned by absconding businessman Vijay Mallya’s aviation company at almost one-third of its reserve price of Rs 135 crore set in the first auction conducted in 2016. Read more at:
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/vijay-mallyas-kingfisher-house-finally-sold-for-rs-52-25-crore-in-ninth-auction/articleshow/85310637.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
• Superb Locations - Certain or most properties auctioned by the banks are all located in posh and sophisticated areas. Hence, these properties are some of the most lucrative options for people.
• Instant Move-In Ready - In the case of these properties, one needn’t go through the whole process of remodelling and renovation unless one wants to. The bank-auctioned properties are entirely ready to move in and are secure for sure. After the deal is closed, the buyer can move in instantly, and the convenience is unparalleled. A brilliant investment tool not limited to just residential properties - there are industrial, commercial, agricultural - all types of properties.
Risks in Buying a Bank Auction Property
Let us look at some of the risks associated with property auctions by the bank. • Due diligence required - Bidders are always advised to perform their due diligence before making bids to make the most out of the purchasing experience. Participating in the auction is not enough since one must gather all the property details in the first place.
• Additional Costs - While bank-auctioned properties tend to be safe and secure, there is no telling about the additional costs it may have. Sometimes, it can be difficult for the buyers to assess the property’s condition properly, so making a decision becomes difficult for them.
• Outstanding Payments - The buyer's sole responsibility is to make payments of any outstanding dues related to the property. These dues can include statutory charges, society charges, municipal taxes, electricity bills and many others. These expenses might also include lease and litigation charges for the property.
The Way Forward
Buying a bank auction property can be both beneficial and risky. Purchasing a bank auction property needs focus, diligence and expertise with the involvement of multiple stakeholders apart from the lender and borrower. But with expert advice, the buyer can mitigate risks, and the buying process can be made smoother with a proactive approach to take corrective measures on time.
Contact our financial experts to help you identify early warning signals with the bank auction. To find and bid for the property of your choice, visit https://www.auctionbazaar.com/
Buying or Selling Residential Properties Through a Bidding Process [realestate]
Selling and buying a residential property via auction is generally quicker than the more conventional open market route. Compilation of the contract takes place before the auction date. Once the hammer drops, the contract gets wrapped on the successful seller or a buyer, and no negotiation on the price can occur.
"As per India Residential Real Estate Market Size, Statistics | 2022 - 27 | Forecast Report (mordorintelligence.com), The residential real estate market in India is expected to register a CAGR of more than 5% during the forecast period 2022-2027. The loan crunch reduced residential sales in India's top seven cities from four lakh units in 2019-20 to 2.8 lakh units in 2020-21.
During the April-June 2021 period, average property values in India's eight key residential markets increased slightly. While certain cities, like Hyderabad and Ahmedabad, witnessed a 5% increase in new apartment pricing compared to the same period in 2020, other cities saw far lesser increases. With the exception of the Mumbai Metropolitan Region, prices rose marginally in other areas during the second wave of the COVID-19 pandemic."
How precisely does the bidding method work, and how should you move as a seller or a buyer?
The buyer and seller cannot withdraw from the dealing without violating the contract and risking a significant financial penalty. A bidding process or auctions are quicker and hassle-free. There are some essential things to keep in mind to make the most out of the experience of buying or selling bank auction properties for residential purposes or residential flats. There are legal responsibilities that both sellers and buyers have to fulfill to make the auction process much more convenient.
Tips While Selling Residential Properties in an Auction
Here are some essential tips to consider while selling a residential property in an auction.
• Choose The Right Auctioneer
There are various auctioneers, some of which are individual auction houses, and some are departments of a real estate agency. In both cases, sellers have to look at their sold properties and auction procedures to check whether they’re the right choice.
• Get Auction Appraisal
If you want the residential property’s value to be higher, getting a proper auction appraisal from an auctioneer is the right choice. In most cases, sellers can achieve a much higher bid by selling at a particular auction that has provided an appraisal in the first place.
• Enjoy The Security of the Process
Now that you have chosen the right auctioneer and are permitted the bidding, you can completely revel in the secure knowledge that the experts will take care of the process. Once the sale gets made, you can quickly receive the money in your bank account.
Tips While Buying Residential Properties in an Auction
Follow these essential tips to make the experience of buying property at an auction worthwhile.
• Get Your Information
One of the most important things to keep in mind while buying residential properties at an auction is that you need to get the correct details of the property. These days, auctioneers provide newspaper listicles and ads detailing every single aspect of properties. Thus, one needs to ensure their inspection is thorough before making a bid.
• Compare Prices
In the case of residential properties, one must always compare the bid price with the property's market value. Unless you want the deal to go sour after winning the auction, compare the prices to get the property's actual value. This exercise will also help you make the correct bid. You may need financial assistance based on the pricing and this is where AuctionBazaar.com comes into the picture. Do visit https://www.auctionbazaar.com/services for expert assistance.
• Perform Due Diligence
Performing said due diligence is essential to buying residential properties through bidding. Check the society, property rates, flat residential permits, ownership details, and much more before making any purchase. That will ensure a smooth and efficient transaction in the bidding. You may not be able to do the DD alone and hence you may need an expert advice from relationship managers for end-to-end handling transactions.
Conclusion
Whether you are looking to buy or sell a residential property in India, it is essential to follow the proper steps and complete the procedure thoroughly. With these helpful tips on bid houses, the bidding process will be much more convenient for both the buyer and the seller. However, it is essential to understand the process and get the right advice.
"As per India Residential Real Estate Market Size, Statistics | 2022 - 27 | Forecast Report (mordorintelligence.com), The residential real estate market in India is expected to register a CAGR of more than 5% during the forecast period 2022-2027. The loan crunch reduced residential sales in India's top seven cities from four lakh units in 2019-20 to 2.8 lakh units in 2020-21.
During the April-June 2021 period, average property values in India's eight key residential markets increased slightly. While certain cities, like Hyderabad and Ahmedabad, witnessed a 5% increase in new apartment pricing compared to the same period in 2020, other cities saw far lesser increases. With the exception of the Mumbai Metropolitan Region, prices rose marginally in other areas during the second wave of the COVID-19 pandemic."
How precisely does the bidding method work, and how should you move as a seller or a buyer?
The buyer and seller cannot withdraw from the dealing without violating the contract and risking a significant financial penalty. A bidding process or auctions are quicker and hassle-free. There are some essential things to keep in mind to make the most out of the experience of buying or selling bank auction properties for residential purposes or residential flats. There are legal responsibilities that both sellers and buyers have to fulfill to make the auction process much more convenient.
Tips While Selling Residential Properties in an Auction
Here are some essential tips to consider while selling a residential property in an auction.
• Choose The Right Auctioneer
There are various auctioneers, some of which are individual auction houses, and some are departments of a real estate agency. In both cases, sellers have to look at their sold properties and auction procedures to check whether they’re the right choice.
• Get Auction Appraisal
If you want the residential property’s value to be higher, getting a proper auction appraisal from an auctioneer is the right choice. In most cases, sellers can achieve a much higher bid by selling at a particular auction that has provided an appraisal in the first place.
• Enjoy The Security of the Process
Now that you have chosen the right auctioneer and are permitted the bidding, you can completely revel in the secure knowledge that the experts will take care of the process. Once the sale gets made, you can quickly receive the money in your bank account.
Tips While Buying Residential Properties in an Auction
Follow these essential tips to make the experience of buying property at an auction worthwhile.
• Get Your Information
One of the most important things to keep in mind while buying residential properties at an auction is that you need to get the correct details of the property. These days, auctioneers provide newspaper listicles and ads detailing every single aspect of properties. Thus, one needs to ensure their inspection is thorough before making a bid.
• Compare Prices
In the case of residential properties, one must always compare the bid price with the property's market value. Unless you want the deal to go sour after winning the auction, compare the prices to get the property's actual value. This exercise will also help you make the correct bid. You may need financial assistance based on the pricing and this is where AuctionBazaar.com comes into the picture. Do visit https://www.auctionbazaar.com/services for expert assistance.
• Perform Due Diligence
Performing said due diligence is essential to buying residential properties through bidding. Check the society, property rates, flat residential permits, ownership details, and much more before making any purchase. That will ensure a smooth and efficient transaction in the bidding. You may not be able to do the DD alone and hence you may need an expert advice from relationship managers for end-to-end handling transactions.
Conclusion
Whether you are looking to buy or sell a residential property in India, it is essential to follow the proper steps and complete the procedure thoroughly. With these helpful tips on bid houses, the bidding process will be much more convenient for both the buyer and the seller. However, it is essential to understand the process and get the right advice.
タグ：bid houses,
Buying or Selling Residential Properties Through a Bidding Process [realestate]
Selling and buying a residential property via auction is generally quicker than the more conventional open market route. Compilation of the contract takes place before the auction date. Once the hammer drops, the contract gets wrapped on the successful seller or a buyer, and no negotiation on the price can occur.
"As per India Residential Real Estate Market Size, Statistics | 2022 - 27 | Forecast Report (mordorintelligence.com), The residential real estate market in India is expected to register a CAGR of more than 5% during the forecast period 2022-2027. The loan crunch reduced residential sales in India's top seven cities from four lakh units in 2019-20 to 2.8 lakh units in 2020-21.
During the April-June 2021 period, average property values in India's eight key residential markets increased slightly. While certain cities, like Hyderabad and Ahmedabad, witnessed a 5% increase in new apartment pricing compared to the same period in 2020, other cities saw far lesser increases. With the exception of the Mumbai Metropolitan Region, prices rose marginally in other areas during the second wave of the COVID-19 pandemic."
How precisely does the bidding method work, and how should you move as a seller or a buyer?
The buyer and seller cannot withdraw from the dealing without violating the contract and risking a significant financial penalty. A bidding process or auctions are quicker and hassle-free. There are some essential things to keep in mind to make the most out of the experience of buying or selling bank auction properties for residential purposes or residential flats. There are legal responsibilities that both sellers and buyers have to fulfill to make the auction process much more convenient.
Tips While Selling Residential Properties in an Auction
Here are some essential tips to consider while selling a residential property in an auction.
• Choose The Right Auctioneer
There are various auctioneers, some of which are individual auction houses, and some are departments of a real estate agency. In both cases, sellers have to look at their sold properties and auction procedures to check whether they’re the right choice.
• Get Auction Appraisal
If you want the residential property’s value to be higher, getting a proper auction appraisal from an auctioneer is the right choice. In most cases, sellers can achieve a much higher bid by selling at a particular auction that has provided an appraisal in the first place.
• Enjoy The Security of the Process
Now that you have chosen the right auctioneer and are permitted the bidding, you can completely revel in the secure knowledge that the experts will take care of the process. Once the sale gets made, you can quickly receive the money in your bank account.
Tips While Buying Residential Properties in an Auction
Follow these essential tips to make the experience of buying property at an auction worthwhile.
• Get Your Information
One of the most important things to keep in mind while buying residential properties at an auction is that you need to get the correct details of the property. These days, auctioneers provide newspaper listicles and ads detailing every single aspect of properties. Thus, one needs to ensure their inspection is thorough before making a bid.
• Compare Prices
In the case of residential properties, one must always compare the bid price with the property's market value. Unless you want the deal to go sour after winning the auction, compare the prices to get the property's actual value. This exercise will also help you make the correct bid. You may need financial assistance based on the pricing and this is where AuctionBazaar.com comes into the picture. Do visit https://www.auctionbazaar.com/services for expert assistance.
• Perform Due Diligence
Performing said due diligence is essential to buying residential properties through bidding. Check the society, property rates, flat residential permits, ownership details, and much more before making any purchase. That will ensure a smooth and efficient transaction in the bidding. You may not be able to do the DD alone and hence you may need an expert advice from relationship managers for end-to-end handling transactions.
Conclusion
Whether you are looking to buy or sell a residential property in India, it is essential to follow the proper steps and complete the procedure thoroughly. With these helpful tips on bid houses, the bidding process will be much more convenient for both the buyer and the seller. However, it is essential to understand the process and get the right advice.
"As per India Residential Real Estate Market Size, Statistics | 2022 - 27 | Forecast Report (mordorintelligence.com), The residential real estate market in India is expected to register a CAGR of more than 5% during the forecast period 2022-2027. The loan crunch reduced residential sales in India's top seven cities from four lakh units in 2019-20 to 2.8 lakh units in 2020-21.
During the April-June 2021 period, average property values in India's eight key residential markets increased slightly. While certain cities, like Hyderabad and Ahmedabad, witnessed a 5% increase in new apartment pricing compared to the same period in 2020, other cities saw far lesser increases. With the exception of the Mumbai Metropolitan Region, prices rose marginally in other areas during the second wave of the COVID-19 pandemic."
How precisely does the bidding method work, and how should you move as a seller or a buyer?
The buyer and seller cannot withdraw from the dealing without violating the contract and risking a significant financial penalty. A bidding process or auctions are quicker and hassle-free. There are some essential things to keep in mind to make the most out of the experience of buying or selling bank auction properties for residential purposes or residential flats. There are legal responsibilities that both sellers and buyers have to fulfill to make the auction process much more convenient.
Tips While Selling Residential Properties in an Auction
Here are some essential tips to consider while selling a residential property in an auction.
• Choose The Right Auctioneer
There are various auctioneers, some of which are individual auction houses, and some are departments of a real estate agency. In both cases, sellers have to look at their sold properties and auction procedures to check whether they’re the right choice.
• Get Auction Appraisal
If you want the residential property’s value to be higher, getting a proper auction appraisal from an auctioneer is the right choice. In most cases, sellers can achieve a much higher bid by selling at a particular auction that has provided an appraisal in the first place.
• Enjoy The Security of the Process
Now that you have chosen the right auctioneer and are permitted the bidding, you can completely revel in the secure knowledge that the experts will take care of the process. Once the sale gets made, you can quickly receive the money in your bank account.
Tips While Buying Residential Properties in an Auction
Follow these essential tips to make the experience of buying property at an auction worthwhile.
• Get Your Information
One of the most important things to keep in mind while buying residential properties at an auction is that you need to get the correct details of the property. These days, auctioneers provide newspaper listicles and ads detailing every single aspect of properties. Thus, one needs to ensure their inspection is thorough before making a bid.
• Compare Prices
In the case of residential properties, one must always compare the bid price with the property's market value. Unless you want the deal to go sour after winning the auction, compare the prices to get the property's actual value. This exercise will also help you make the correct bid. You may need financial assistance based on the pricing and this is where AuctionBazaar.com comes into the picture. Do visit https://www.auctionbazaar.com/services for expert assistance.
• Perform Due Diligence
Performing said due diligence is essential to buying residential properties through bidding. Check the society, property rates, flat residential permits, ownership details, and much more before making any purchase. That will ensure a smooth and efficient transaction in the bidding. You may not be able to do the DD alone and hence you may need an expert advice from relationship managers for end-to-end handling transactions.
Conclusion
Whether you are looking to buy or sell a residential property in India, it is essential to follow the proper steps and complete the procedure thoroughly. With these helpful tips on bid houses, the bidding process will be much more convenient for both the buyer and the seller. However, it is essential to understand the process and get the right advice.
タグ：bid houses,
How Does Bank Property Auction Work? [realestate]
Bank auction properties are standard in India and are considered lucrative investments. These properties are available at attractive rates and in super reliable and posh locations. Buyers can bid on different properties based on their financial perspectives and preferences.
As per Deloitte, In the last few years, banks have been under the scanner because of increasing NPAs. The Gross NPA (GNPA) of all Scheduled Commercial banks (SCBs) in India in 2007-08 was INR 40,452 crores. Over the 11-year period since, the GNPA for SCBs increased to INR 9,36,474 crores at 31 March 2019, implying a CAGR of 33.06 per cent, far outstripping the growth of banking sector credit growth during the same period.
It is essential for buyers to know about the bank auction process and how the entire procedure works to make the most out of their auction purchase.
What Properties get Auctioned?
If homeowners cannot pay the EMIs for three consecutive months, they default. During loan default, the banks cannot seize the borrower’s assets, but they will send a warning notice about the action they might take if the EMI payments aren’t resumed. Once the default period is over, the bank assumes the right over the property and will auction the property to recover from the financial losses.
What is The Bank Auction Process?
The bank will specify the property's value and then auction it through different online portals. In this way, banks will recover the outstanding amount in the best way. In the first stage of the auctioning process, the bank will advertise any upcoming auction on a particular date. Once the offers start pouring in, the bank will assimilate all the buying offers and determine the final buyer. The final choice of the winner depends on the compliance and bidding process of every auction. Buyers can pay for the property independently or take a bank loan to complete their payments.
One of the most important things to keep in mind about the property auction by banks is that these properties then be available at lower prices. Buyers will be able to get the property at a much lower rate than the prevailing price in the market. Not to mention that bidders will also be able to find properties in unimaginable and posh locations. There is also a chance of getting premium or more significant properties at very lucrative rates.
Searching for Bank Auctioned Properties
It is relatively easy to find proper bank auction advertisements. Banks tend to inform buyers about these important deals through articles, ads, newspapers, and more. These days, buyers can also find online advertisements for auctions by banks.
Banks will always advertise the auctions on different big platforms where they can mention all the essential details about their properties, locations, auction dates, and times. The process is thoroughly explained to the buyers in advance, so the potential bidders can find all the details and complete their research. This process will enable them to make an informed decision while bidding on different properties.
Wrapping Up
The process of property auction by banks is detailed and contains measured steps that buyers need to take to ensure convenience and efficiency for themselves and the banks.
Hence, it would help if you did the due diligence before bidding for the property. Take the assistance of experts to make the process more simplified and convenient. Contact us now.
As per Deloitte, In the last few years, banks have been under the scanner because of increasing NPAs. The Gross NPA (GNPA) of all Scheduled Commercial banks (SCBs) in India in 2007-08 was INR 40,452 crores. Over the 11-year period since, the GNPA for SCBs increased to INR 9,36,474 crores at 31 March 2019, implying a CAGR of 33.06 per cent, far outstripping the growth of banking sector credit growth during the same period.
It is essential for buyers to know about the bank auction process and how the entire procedure works to make the most out of their auction purchase.
What Properties get Auctioned?
If homeowners cannot pay the EMIs for three consecutive months, they default. During loan default, the banks cannot seize the borrower’s assets, but they will send a warning notice about the action they might take if the EMI payments aren’t resumed. Once the default period is over, the bank assumes the right over the property and will auction the property to recover from the financial losses.
What is The Bank Auction Process?
The bank will specify the property's value and then auction it through different online portals. In this way, banks will recover the outstanding amount in the best way. In the first stage of the auctioning process, the bank will advertise any upcoming auction on a particular date. Once the offers start pouring in, the bank will assimilate all the buying offers and determine the final buyer. The final choice of the winner depends on the compliance and bidding process of every auction. Buyers can pay for the property independently or take a bank loan to complete their payments.
One of the most important things to keep in mind about the property auction by banks is that these properties then be available at lower prices. Buyers will be able to get the property at a much lower rate than the prevailing price in the market. Not to mention that bidders will also be able to find properties in unimaginable and posh locations. There is also a chance of getting premium or more significant properties at very lucrative rates.
Searching for Bank Auctioned Properties
It is relatively easy to find proper bank auction advertisements. Banks tend to inform buyers about these important deals through articles, ads, newspapers, and more. These days, buyers can also find online advertisements for auctions by banks.
Banks will always advertise the auctions on different big platforms where they can mention all the essential details about their properties, locations, auction dates, and times. The process is thoroughly explained to the buyers in advance, so the potential bidders can find all the details and complete their research. This process will enable them to make an informed decision while bidding on different properties.
Wrapping Up
The process of property auction by banks is detailed and contains measured steps that buyers need to take to ensure convenience and efficiency for themselves and the banks.
Hence, it would help if you did the due diligence before bidding for the property. Take the assistance of experts to make the process more simplified and convenient. Contact us now.
