Biggest Condominium Auction In Pattaya
Pattaya, Thailand--New 17th December Auction Sale At “Royal Cliff” Hotel.
Generally the sale of prestigious real estate properties by auction is not common in Pattaya, which is rather surprising, considering the success of such events, which are always of great benefit to both the buyers and the sellers.
Everyone can see that the purchasers are on a winning ticket to some very sound very sound investments, because they know that they are not paying over inflated prices for their property purchase. The prices they pay, represent what are the current values that people are prepared to pay, and not some over inflated price that is on the ‘wish list’ of the owner or property broker, who wants to get as much out of the sale as possible.
This having been stated, you would be correct in asking that “this being so, why would property owners wish to take this course of action, when they may be able to get a higher price using the listing method of selling, where a prospective buyer is taken to see properties, and then can purchase or possibly negotiate a slightly lower price.” The answer to this is surprisingly simple, in that you must view this from the property developer’s point of view, and understand that having invested so much capital in construction, their prime objective is to sell the properties concerned as quickly as they can, in order to maximize their profits.
Listing such properties for many months before they are all sold, costs them in maintenance charges, government taxes, administration fees and other sundry expenses, which are not needed if the properties are sold on the day of the auction or shortly thereafter.
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