Property Auction Advantages And Disadvantages

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1.1 Introduction A property auction is the process of buying and selling property by offer it to bidders wherein the highest bidder can be a buyer of the property at the end of auction. The purchasing of the properties especially for residential property it was increasing which the numbers of properties also increasing go on auction in the market. This situation occur due the borrowers takes a bank loans by mortgaging their property as a guarantee or collateral on his loan which he has made. Thus, if the borrowers failed to pay their loan the property can be auction by advertised the property to sell in public, it is the bank want to recovers the loans that given to the borrowers. The bank would be determined the offer price of the property based on the amount of loan should to recover. Hence, the offer prices of properties in auctions are lower compared to the market price. Which, the buyers will get to see the property value when an auction event held namely when many bid for the property. Besides, sales transactions for property able auction are completed in brief periods In addition, auction properties are also suitable for investment. This is because due to rising prices among property, auction properties are more viable as investment choices. For those who would like to buy a second home, auction houses are most suitable because they are being sold at a very moderate price. Most people do not know that there are many advantages if they buy properties from public auctions compared to other means. Completed property under auction can save buyers the problem of abandoned housing project. Prospective buyer can do a survey first on the property auctioned to see if there is any damage and get related legal advice about the p... ... middle of paper ... ...red will be analyzed used the Microsoft Excel and the findings will be considered as the basis for the formulation of recommendations at the end of this study. Chapter 6: Recommendation and Conclusion To complement this study, result proposal and conclusion of entire research will be elaborated. The conclusion which meets the objectives stated earlier and recommendation for future study. 1.8 Conclusion In conclusion, the introduction part is one of the essential elements in this research study. All the information in this part including issues and problems, objectives, limitations, scope, its area and flow chart of the study are the main and essential elements before the researcher go on to the next step of the research study. Besides, this information would rather help the researcher to know the step in the research study that needs to be followed orderly.

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