MILLIONS of dollars are set to changes hands, as Ray White Commercial sends 24 properties to auction in one spectacular week (03 December to 06 December), as part of their Auction Portfolio across three different states.
New South Wales headlines the event with 12 auctions, followed by Queensland with eight properties under the hammer, and Victoria also has four auctions.
“The number of auctions scheduled is testament to the confidence the owners have instilled in their agent to use the auction process to create competition to achieve the best result,” said Ray White Head of Agency Operations – Commercial Michael McCullagh.
“This has been an impressive collaborative effort across the Ray White Commercial teams and we’re particularly excited to see some positive outcomes for our clients.
“It’s going to be a brilliant four days – and we’ve already announced three more Commercial Auction Portfolio events for 2020.”
Mr McCullagh said auctions had always proudly been part of the fabric of Ray White’s fourth generation, family-owned and led business for 117 years.
“It’s a process we’ve believed in and recommended to clients since then, and we still believe it’s the purest form of selling real estate,” he said.
“Auction is a form of selling real estate where the market determines the price of an asset in an open forum negotiation, which is essentially what happens on auction day.
“Buyers can look each other in the eye and see what someone else is prepared to pay for it, they can then decide if it’s worth more to them and continue bidding, all on an open and even playing field regarding terms and conditions.
“The seller has the benefit of exposing their assets to the entire market, maintaining control of the process by only selling should their reserve price be met.
“It’s also sold on favourable terms as an unconditional contract gives security to the transaction that what a bidder offers, is what a bidder pays.
“During other methods of sale, so often the contract price is renegotiated during a due diligence period for example, which might only come weeks or even months after the contract was agreed.
“Auction requires the buyer to do their due diligence prior to deciding how much they are prepared to pay.
“Vendors can sell any time before the auction – if a good offer comes in; on the day – through competitive bidding and open negotiation on the auction floor; or sometimes when further negotiations are required, they can sell it post-auction.”
Full auction list
Melbourne – Tuesday 03 December:
· B101/42B Nelson Street, Ringwood
· 4 Margaret Street, Oakleigh South
· 6 Margaret Street, Oakleigh South
· 239-245 Koornang Road, Carnegie.
Gold Coast – Wednesday 04 December:
· 53 Winchester Street and 18 Harcourt Crescent, Southport
· 1/1-3 Nesbit Street, Southport.
Sydney – Thursday 05 December:
· 1211 Anzac Parade, Matraville
· 3/17-19 Green Street, Banksmeadow
· 5 Ralph Street, Alexandria
· 12 Good Street, Granville
· 61 Goulburn Street, Liverpool
· Shop 1 / 1 Charles Street, Canterbury
· Shop 5 / 1 Charles Street, Canterbury
· 23-27 Johnston Street, Windsor
· 1 Anschau Street, Windsor
· 130-134 Parramatta Road, Ashfield
· Suite 3/728 Darling Street, Rozelle
· 14 Good Street, Granville.
Brisbane/Broadbeach/Ipswich – Friday 06 December:
· 42 Siganto Drive, Helensvale
· 50 Dan Street, Graceville
· 198 Wickham Street, Brisbane
· 130 Scarborough Street, Southport
· 541 South Street, Glenvale
· 26-28 Lloyd George Street, Eastern Heights.