Sherwoods to organise auction for competitively priced properties in UAE to stimulate market activity

Sherwoods to organise auction for competitively priced properties in UAE to stimulate market activity

Targets property buyers from across the region looking for optimum value for their real estate investments

April 20, 2009
Sherwoods Independent Property Consultants has announced that it will soon organise an auction for the public sale of a range of competitively priced properties as part of efforts to stimulate market activity and open new gateways for real estate investors to channel fresh investments into the UAE's property sector. Sherwoods further revealed that it has coordinated with concerned authorities such as Dubai's Real Estate Regulatory Authority (RERA) and has assembled a dedicated auction team to assist all prospective purchasers.

The auction will gather genuine sellers who are looking for an effective platform that can generate the best possible deal from genuine property buyers and investors. Furthermore, Sherwoods has also assured prospective buyers that the selling price during the auction will be the total amount they will pay for the property, inclusive of all transfer fees and sales commission charges.

Jeremy Mayhew-Sanders, Head of Investments & Developments, Sherwoods Independent Property Consultants said: "Sherwoods continues to innovate and create new opportunities to generate sales revenue for property sellers, while providing an excellent opportunity for buyers from across the region to get optimum value for their investments. Auctions act as a good barometer of the market, serving as an indicator of where true open market value lies. It also provides a high-intensity sales environment of willing sellers and willing buyers, which ensures high sales rates.”

“We believe that investors are now taking a serious look at new investment opportunities in the local real estate market; creating an entry-level platform that ensures best-value prices for properties is surely an excellent way to further cultivate investor interest,” he added.

Sherwoods has revealed that a number of the properties to be auctioned off also offer financing options, including some where up to 90 per cent finance is available. Property viewing sessions will also be conducted prior to auction to generate greater sales interest.

Sherwoods has pointed out that one of the main advantages of holding an auction is that it eliminates the need for time-consuming offer and counter offer negotiations, consequently speeding up the sales process and ensuring prompt payment and quick handover of the property. Furthermore, sale by auction ensures greater marketing exposure and wider advertising coverage compared to traditional routes.

Founded in 1988 in the UK by Iseeb Rehman, Sherwoods has grown to become one of the leading international real estate companies. Sherwoods has established several international branch offices in the UAE, UK, France, and soon in other key locations around the world. The company offers a diverse range of services, including search and acquisition of properties, offshore company information, selling of properties, mortgage services, valuation and appraisal, legal and tax services, and lettings and management.