SUNBIZ

First Auction Show For The West

‘The auction process was the fairest way of selling a property and the most open way to do so.’
05 May 2019 13:18
First Auction Show For The West
Harcourts owner, Shivas Singh (black T-shirt) speaking to the bidders in Simla, Lautoka. Photo: Rohit Kumar

 

The Western Division held its first auction show for a piece of land in Lautoka, which was organised by Harcourts Real Estate.

Harcourts Real Estate agent Paula Benn said this first auction show was for Nadi and Lautoka.

“The organising process is very structured and a great deal of marketing involved identifying potential buyers and getting the potential buyers over to the site to view it,” she said.

“Then they would have to go through proper information of memorandum, which has all the legal details of the property.

“Then they had to sign auction bidding rules that would make them qualified and we weed the ones who are not serious out.”

She added the start of the bidding price was $320,000 and the land was sold for $365,000.

The land, which is located at Taulesia Street in Simla, Lautoka, was successfully taken by a Lautoka resident.

Harcourts owner Shivas Singh said the auction process was the fairest way of selling a property and the most open way to do so.

“The other aspect of this is that it requires buyers to do their due diligence beforehand and auction has become the prevalent way of selling a property for buyers and sellers,” he said.

Edited by Epineri Vula

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