How Owner Auction™ Helped a Client in Financial Difficulty Achieve a Higher Selling Price

At Owner Auction™, our mission is to provide innovative solutions for clients facing challenging financial situations. One of our recent success stories involves a client who was struggling to dispose of her property at a fair price, especially in the face of an impending bank foreclosure. Here's how we assisted her in achieving a significantly higher selling price than the bank's foreclosure amount.

Background

In June 2023, the client's property was scheduled for a bank auction with a reserve price of RM260,000. However, the auction was withdrawn, leaving the owner in a precarious financial situation and seeking alternative solutions to dispose of the property.

The Challenge

The primary challenge was to sell the property at a price higher than the reserve price set by the bank. The client managed to put the bank foreclosure auction on hold, creating a tight timeline to dispose of the property and avoid further financial strain. Additionally, since the client was based overseas, managing the documentation and communication across countries added another layer of complexity.

The Owner Auction™ Solution: The New Way to Sell Your Property Fast & Securely

1. Dedicated Client Relations Manager

From the moment of onboarding in September 2023, the client was assigned a dedicated Client Relations Manager who provided personalized assistance throughout the entire process. This manager was responsible for:

• Guiding the client through the onboarding process
• Coordinating the auction activities
• Handling all post-auction documentation

This dedicated support ensured seamless communication and efficient handling of all necessary tasks, despite the client's overseas location.

2. Tailored Marketing Strategy

Owner Auction™ implemented a tailored marketing strategy to highlight the property's unique features and attract a broad range of potential buyers. Our team utilized various marketing channels, including online listings, social media promotion, and targeted email campaigns, to maximize the property's exposure.

3. Transparent and Competitive Auction Process

We organized a transparent and competitive auction process that encouraged potential buyers to participate with confidence. By creating a sense of urgency and competition, we ensured that the property received the attention it deserved and attracted serious bidders willing to pay a fair price.

4. Efficient Documentation Handling

Given the client's overseas location, we arranged for all necessary documents to be couriered between countries. Our team managed the logistics to ensure timely and secure delivery of documents, minimizing any potential delays and ensuring a smooth transaction process.

The Outcome

The results speak for themselves:

• Successful Sale: In October 2023, Owner Auction™ successfully sold the property for RM338,000.
• Higher Selling Price: The final sale price was 30% higher than the initial reserve price of RM260,000 set by the bank, demonstrating the effectiveness of our auction process.
• Quick Turnaround: From the time of appointment in September to the successful sale in October, the entire process was completed in just over a month, providing much-needed financial relief to the owner.

Conclusion

This success story underscores the value of Owner Auction™ in assisting clients to achieve higher selling prices for their properties, even in challenging financial situations. By leveraging our innovative auction platform, dedicated client support, and tailored marketing strategies, we help clients realize the full potential of their assets.

If you are facing financial difficulties and need to dispose of your property at a fair price, contact Owner Auction™ today. Let us help you achieve the best possible outcome through our efficient, transparent, and competitive auction process.

Owner Auction™ is committed to setting new standards in the real estate auction marketplace, providing clients with reliable solutions to meet their unique needs. Discover the new way to sell your property fast and securely with Owner Auction™.