The auction of midtown Atlanta condos at Aqua will take place Saturday, May 16 at The W Atlanta. What advantage is to be gained with these real estate auctions, where the opening bid is sometimes less than half the original asking price?
In a typical open market, one buyer may come along and negotiate one price – and the buyer for the next unit may negotiate a lower price. So, the buyer for the third unit will see that prices are going down, and try for an even better deal. But at a real estate auction, where 30 or 40 units are being sold all at once, a focused marketing event establishes the true baseline of the market price – and the perception of a great deal. This makes it more likely that when you resell once the glut of new condominium units is off the market, you will not be in a downward spiral on the pricing, and can build equity.
It’s expected we’ll see more auctions for midtown Atlanta condos, since there are a great many of them, and developers want to move the inventory. So this means some great deals for today’s buyers of midtown Atlanta condos.
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Midtown Atlanta condo auctions are a great opportunity for today’s buyer. Please contact me about pre-registration before you go to the Aqua auction- I can then represent you at the auction, and help you obtain financing and determine your pricing strategy.
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