TIME FOR CHANGE

Another Auction of New Flats And Homes

On the heels of their successful December auction the Professionals real estate office and the GAVLAS auction and real estate agency are preparing a second auction of new flats and family houses from development projects.

 

It will take place on Thursday, 27 May 2010. Thirty properties from 13 various projects will be on offer. The auction will take place in the Autoklub Czech Republic's spaces at Opletalova St. 29 in Prague 1.

 

The participants´ registration will begin at 1 p.m. and upon its completion the auction itself will begin.

 

Property in the auction

A number of developers including, for example, Finep, Ablon, Moravská stavební and AAA realitní fond will be offering the property in the auction.

 

It will involve projects located throughout Prague, such as Malý Háj in Štěrboholy, Britská čtvrť in Stodůlky, VIVA Rezidence in Prague 9 or Rezidence Cholupice in Prague 4.

 

"The auction features a higher number of smaller flats at lower prices. Most of them have layouts of two or three rooms with kitchenettes and sizes from 50 to 80 m2.

 

This is how we tried to reflect the current market situation, where people are more interested in smaller and less expensive flats," Tomáš Duda, Director of the Professionals real estate office, stated with regard to the offer.

 

There is something for everyone, however, since some larger flats and 4 large family houses are also included.

 

Reserve price

The auctions of the new flats and family houses will once again be held in "reserve price" mode, i.e. as an auction with a price limit. The winner of each individual auction will learn, immediately upon its completion, whether the price limit was reached or not.

 

Everyone can find the detailed parameters of the "reserve price" mode in the auction rules, which will be on display about 3 weeks in advance on the auction's www.aukce-realit.com web pages. "The starting price of the properties will begin at sixty percent of the catalogue prices.

 

That will increase the probability that the reservation contract will be signed between the seller and the auction winner.

 

In any case the auction will once again show the true market prices that the market is willing to accept," stated Ivo Gavlas, the owner of the GAVLAS auction and real estate agency.

 

"We are including something new in the May auction which is known, for instance, in art auctions. This is the possibility of participation by telephone.

 

We are doing this to help out those who would be interested in participating in the auction but cannot come in person. In such a case the participant is in contact with our representative by telephone and during the bidding he gives this representative his instructions," Ivo Gavlas described.

 

A large majority of trade with properties is realised through auctions in "reserve price" mode, especially in the Anglo-Saxon countries. Even the celebrated international Sotheby´s and Christie´s auction houses hold them.

 

"It is an attractive method for selling flats and homes, which is advantageous for all involved. For the buyer it offers the possibility of buying at an interesting price.

 

For the seller, on the other hand, it offers the certainty of a set price limit and the advantage that it can sell all the property that it gives up for auction in a single afternoon.

 

Through regular sales channels it would need several months," Tomáš Duda explained. And he added: "So we trust that our "reserve price" auction will, in time, also become a common method for selling new properties."

 

For interested people in new housing

Those interested in new housing can becomeacquainted with the complete offer of flats and family houses at the www.aukce-realit.com portal.

 

They will also find the auction terms and conditions here as well as all the details about what is necessary to be able to participate.

 

They can also obtain more information from representatives of the GAVLAS and Professionals agencies. There will also be tours of the individual properties from those on offer for those interested up until the date the auction is held.