New website lets Kiwis auction their home online
Internet business goauction.co.nz is providing an exciting new service to the New Zealand property market by unveiling
their website which allows Kiwis to auction their properties online.
What is thought to be a first in New Zealand, Go Auction works with the vendor’s real estate agent and provides another
option for those who want to save time, save money and ensure they get the best price the market will pay.
Much of the selling process is the same. The marketing of the property, inspections and open homes all happen as usual,
but when the time comes to auction your property – you do it online.
The man behind the internet business is Chris Finnerty, a licensed auctioneer who has been in the real estate industry
for nearly 10 years.
Finnerty noticed numerous vendors were missing out on the benefits of an auction due to apprehension, but he believes
his website will eliminate many of the associated pressures.
“I saw the stress it causes people when their auction was at their home or in auction rooms. Now
they can watch the auction unfold from the comfort of their own home or anywhere else where they
have internet access.”
“Our system puts the control back in the vendor’s hands, they set the terms of the sale, not the purchaser. The
negotiation is not vendor versus purchaser, it is purchaser versus purchaser, therefore, the vendor won’t be put under
pressure at auction time.”
With Go Auction, all of the relevant documents are uploaded by the agent for bidders and watchers to review, including
terms and conditions. These include the conduct of the auction, conditions of sale, LIM’s, property title and building
inspections. This saves time for all involved in the auction process, including lawyers and lending consultants.
The site is secure and only those registered with the listing real estate agent can bid or watch the auction. This
provides the vendors with privacy and security around the auction of their property.
The highest bidder is legally bound to purchase the property and if the reserve isn’t met, then the highest bidder will
have the first opportunity to negotiate with the vendor.
ENDS