South Africa

Buying auction property online has become mainstream, says BidX1

Further motivated by the Covid-19 lockdown, buying property via online auction has become increasingly mainstream, says MC du Toit, CEO of BidX1 South Africa.

“Mindsets are changing rapidly, and both buyers and sellers now favour the digital space, rather than the more traditional auction event. As the mature players in this space, we are seeing a huge increase in demand for a more modern, flexible approach to property sales. 

“Buyers in general are now comfortable bidding online in a secure and transparent environment, and they prefer the privacy afforded by digital sales – rather than being in a room where you’re under scrutiny and may feel pressured. Coupled with this, you cannot beat the convenience factor: you can bid on any device, from anywhere in the world, and complete the full transaction online.

“From a seller point of view, a property firm that puts technology and data at the heart of its model is now a hugely valuable partner in any sale process.

“Currently,” says du Toit, “with the pent-up demand resulting from the lockdown behind us, we are now seeing heightened interest underpinned by the low interest rates, which are giving qualified buyers with access to finance, including first-time purchasers, the confidence to bid for well-priced properties which offer sound value for money in the prevailing economic climate. 

“Activity on BidX1’s secure, online platform continues to increase exponentially, with bids to the value of some R100 million during October (2020) alone. These include a Franschhoek wine farm which saw fierce competition, attracting 77 bids and concluding with a final bid of R25 million which is now subject to confirmation. A number of other properties also enjoyed high interest, such as a home in Oubaai on the scenic Garden Route, which drew both local and international bidders.  

“South African properties are also attracting increasing attention from a wide variety of international buyers on our global database, including from Ireland, the UK, Australia, Spain, the Netherlands, Italy, Saudi Arabia, Poland, Canada, Cyprus, Austria and the USA, among others – as well as growing attention from other countries on the African continent such as Rwanda and Zambia.” 

Adds du Toit: “With the end of the year drawing near, we have scheduled three auctions on 2, 9 and 10 December (2020), in order to provide sellers with maximum exposure for their properties and purchasers with further attractive buying opportunities in various regions around the country.

“Highlights include an immaculate three-bedroom, three-bathroom family home in sought-after Plattekloof in Cape Town’s popular Northern Suburbs, on offer with an opening bid price of R4 million. Set on an erf of 1 059sqm with an open plan kitchen, gas fireplace, built-in bar, CCTV system, swimming pool, Jacuzzi, pantry/study and laundry room, the property includes separate domestic quarters.”

In Edgemead, also in Cape Town, a stylish, spacious three-bedroom family home in walking distance of schools and shopping amenities, has an opening bid price of R2.3 million, while a large three-bedroom (all en-suite) home in Zevenwacht Country Estate – elevated with exceptional views over the Zevenwacht farm, dams, Table Mountain, Strand and the Northern Suburbs – provides an opportunity to acquire a luxury home with country living at your front door. Residents of this estate have access to all the amenities on Zevenwacht Winery, including the restaurant, situated in the 19th Century Cape Dutch Manor House, as well as hiking and mountain biking trails in the Rheebokrand Hills. The home includes a large studio, double volume entrance, large open-plan lounge/dining room and kitchen with scullery, undercover balcony and undercover braai patio, raised pool area and enclosed tiled back yard. This generously proportioned luxury property is on auction with an opening bid price of R1 million. A liquidation sale with specific terms attached, the auctioneer can be contacted to discuss.

Other residential properties on the BidX1 auctions are in Scottsville, Pietermaritzburg; San Lameer on the KwaZulu-Natal South Coast; centrally situated Maitland in Cape Town; Vaal Marina in Gauteng and Florida in Roodepoort, Gauteng, as well as other regions in the country.

For further information visit https://bidx1.com or telephone 021 140 3541.