The auction
market offers a chance to buy property at a low price. Reportedly, auctions are
the proven and popular way of buying and selling properties in many countries
such as Australia, New Zealand, UK and the US owing to their speed, certainty
and simplicity.
Under the
platform, Real Estate Auction Network has unveiled plans to dispose three prime
property valued at N8.9 billion at half the price. The property all located in
Abuja include, Royal Tropicana Hotel valued N5.5 billion, auction price N2.5
billion; and Mall valued N2.5 billion, auction price N750 million and Filling
Station with shopping mall valued N850 million, auction price N350 million.
Chairman of the Auction Network, Felix Osuji, described the offer as an outstanding opportunity to own properties in the Federal Capital Territory, “Auctions like this are great opportunities for owner occupants and investors to name their price on properties with great upside potential.
He said: “Auctions continue to be the number one asset disposition
strategy for banks, corporate bodies and individuals all over the world. With
registration for the auction already commenced.”
According to
him, interested bidders and buyers in the auction scheduled for August 20,
could view the properties by attending one of the on-site inspections scheduled
from July 30 to August 6 and 13, 2016.
One of the
banks involved in the auction process and a Regional Manager, Abubakar Mohammed, said: “We are using the auction to dispose these properties. This
would not only provide buyers with a quick sale but also assure them of that
the properties will close.”
Real Estate
Auction Network is an asset acquisition and disposal organisation that have
worked on auctions with banks, brokers and agents, real estate developers,
individuals, REITS, Fortune 500 corporations and others. (Guardian)
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