"Find out from us whether your property is suitable for this sales process – our team will be happy to advise you."
Yours, Thorsten Scheele
The bidding process. How it works:
Long a successful and common form of sale abroad, the bidding process is becoming increasingly important on the domestic real estate market as a "modern" way of selling and buying. Scheele Immobilienberatung is one of the first agents in the Rhine-Main area to conduct structured bidding processes and now has several years of experience with this form of marketing.
The bidding process is not an auction. It is time-limited and gives you the opportunity to submit a bid for the property on offer. What is special is that properties in the bidding process have no fixed purchase price; instead, the buyer submits a bid, which the seller can then accept, reject or use as a basis for further negotiation.
Come. Look. Bid.
For properties we offer in the bidding process, there are individual viewing appointments. Prospects can take their time to look at the property and get information from our consultants. Prospects receive a detailed exposé of the property from us. If they are seriously interested in buying, they can submit a purchase offer through us within a set period (see bidding deadline). We are happy to discuss and formulate this together with the client. Before the bid is submitted, we are of course also available with further property documents, a second viewing if needed, and individual advice – including on financing.
Asking price.
In the bidding process there is usually no asking price and usually no minimum price. The seller can set a minimum price requirement. Ultimately, the prospective buyer alone decides what offer to make. A prospect with a serious interest in buying has two goals to keep in mind when bidding: to become the highest bidder and, at the same time, to submit a bid that the seller will accept.
Duration of a bidding process.
Every property we advertise in a bidding process is usually offered over a period of four to six weeks. The offer is therefore time-limited. There is usually one to a maximum of two weeks between the open viewing and the deadline for submitting bids.
Submitting bids/bidding deadline.
If interested, the prospect can submit a bid through us within a set period. The bid is not finally binding but should reflect a real and serious interest in buying! After the bidding period, the owner can accept the highest bid, reject it or negotiate further on that basis. In the course of final negotiations, we are happy to offer the highest bidder the option of converting their bid into a binding bid combined with a property reservation.
Advantages.
The bidding process gives the seller the opportunity to complete a sale in just a few weeks, without the often feared "viewing tourism". The bidding process has a success rate of almost 100%. Prospective buyers can acquire their dream property quickly and without lengthy negotiations at the current, actual market price, and they enjoy the same individual advice and support from us in the bidding process as with a conventional purchase.
Completion of the purchase.
When seller and prospect reach agreement, a purchase contract is notarised. Between agreeing on the bid and the other purchase parameters (e.g. the handover date) and the notarisation of the purchase contract, there is enough time to secure the purchase price financing for the prospect and to prepare a purchase contract ready for signing. This phase usually takes between 7 and 10 days. A property reservation is advisable during this time.
Costs.
The buyer of a property in the bidding process pays the same additional purchase costs as with a conventional purchase. These include 6% real estate transfer tax (Hesse; other federal states sometimes differ), approx. 1.5% notary and land registry costs and an agent's commission (see terms), all calculated on the purchase price agreed in the contract.
Questions.
We are always happy to offer every prospect individual appointments for viewing the property after the official viewing date or for further discussions.