E - Auctions

Electronic Auction is by using an online auction service, you can participate in online auctions without your physical presence using a computer. Following the gradual channeling of the Greek banks’ NPL portfolios into the market, iOwn has taken a strategic position as an advisor to loan servicers companies who are carrying out the electronic auctions, whose objective is the transference of the collateral assets to the aforementioned loans, as real estate properties.

We also provide our expert advice on the correct price positioning of the properties, and the necessary advice towards the maturity and disposal of the complete portfolio.

How Do E-Auctions Work with iOwn?

With our long experience in the Real Estate Market we undertake to provide you with our expert advice on how to participate in E-Auctions and on the correct price positioning of the assets.

Participating in an e-auction with iOwn is simple and secure. The process is designed to provide a seamless experience for both buyers and sellers. Here’s how it works:

Registration: To join an auction, buyers must first register on the platform. This includes creating an account, verifying your identity, and agreeing to the auction’s terms and conditions.we can help you on this.
Property Browsing: Once registered, you can browse a wide variety of properties available for auction. Each listing includes detailed property information, photos, legal documentation, and starting bid prices.
Bidding: During the auction, registered users can place bids in real-time. Each auction is time-bound, and participants can see current bid activity. The E-Auction system ensures fair play by allowing only verified users to participate.
Finalizing the Sale: After the auction closes, the highest bidder wins the property. The winner is then guided through the final steps, which include signing digital contracts and securing payment.

iOwn ensures a secure auction process with encrypted bidding and a transparent system, ensuring that all participants are verified and the auction is fair.

Advantages of E-Auctions for Buyers and Sellers

E-Auctions offer several benefits for both buyers and sellers:

For Buyers:

Convenience: Participate from anywhere, at any time. With 24/7 access to our auction listings, buyers can bid without the need to attend physical auctions.
Competitive Pricing: The competitive nature of online auctions often results in favorable prices for buyers, especially in foreclosure or repossession auctions.
Transparency: Real-time bidding updates provide full visibility into the auction process.

For Sellers:

Faster Sales: E-Auctions often result in quicker property sales compared to traditional methods, as they create a sense of urgency among bidders.
Broader Audience: By listing a property online, sellers can attract both local and international buyers, maximizing their potential market.
Transparency: Sellers benefit from a fully transparent auction process, ensuring fair market value for their properties.

Supporting Data: Online real estate auctions have seen rapid growth, with industry reports indicating an increase in global e-auction transactions in recent years. This trend is expected to continue as more buyers and sellers embrace the digital shift in real estate.

Case Study: One of iOwn’s clients recently sold a repossessed property within two weeks through our e-auction platform, attracting multiple bids and achieving a sale price 10% above the starting bid.

What Properties Are Available for E-Auctions?

E-auction platforms offer a wide range of properties to suit various needs. Whether you’re looking for a new home, commercial investment, or a repossessed property, our platform has something for everyone. Here are some of the property types you can expect:

Residential Properties: From city apartments to luxury homes, you’ll find a diverse selection of residential real estate.
Commercial Properties: Offices, retail spaces, and industrial buildings are available, catering to both small business owners and large investors.
Foreclosed and Repossessed Properties: These properties are often available at below-market prices, providing an excellent opportunity for buyers looking for a bargain.

Browse though exclusive property listings today to find your next investment or dream home with iOwn as your partner.