Insider Business BidX1 to offer more than 60 assets at 18th November digital sale

BidX1 to offer more than 60 assets at 18th November digital sale

Registration opens 06.11.2020

BidX1, the digital property investment platform, has announced details of its upcoming digital sale in Cyprus, which will take place on 18th November 2020 via the firm’s innovative trading platform, offering users transparency, efficiency and accessibility throughout the sale process.

The catalogue, currently available on the BidX1 platform (https://bidx1.com/en/el-cy/auction/properties/1000) and the BidX1 app, brings over €8m-worth of property to the market, with more than 60 assets to be offered on the day.

Head of Property at BidX1 Cyprus, Kritonas Onisiforou, noted: “The catalogue features a wide selection of investment opportunities across Cyprus, at a range of price points. There are also a number of houses and apartments that would suit owner-occupiers, with 8 apartments and 5 houses included in the latest offering, in locations like Nicosia, Larnaca, Famagusta and Paphos. Reserve prices on these properties start at €30,000.”

BidX1 specialise in online property sales, combining real estate expertise with bespoke technology. The firm’s unique model has proven successful across the full spectrum of asset types, and the latest Cypriot catalogue boasts a selection of agricultural and development land, houses and apartments, as well as commercial investment opportunities.

BidX1’s team in Cyprus has reserved a seafront ground-floor retail unit in Zygi, Larnaca, at €75,000; while a residential plot in the exclusive Aphrodite Hills development in Kouklia, Paphos – with planning permission for a luxury villa – will open for bidding at €360,000.

A first floor two-bedroom apartment in Agios Antonios, one of several apartments in Nicosia being offered on the 18th November, has a reserve price of €105,000; and a three-bedroom house in Ayios Nicolaos, Larnaca, is being offered with a reserve price of €115,000.

To bid on a property at the upcoming sale, interested parties must pre-register on the BidX1 platform (https://bidx1.com/en/cyprus), or via the BidX1 app. Registration will open on 6th  November.

Potential purchasers must provide proof of identification and proof of address, as well as a deposit that will be retained only if the bidder is the successful purchaser on the day of sale. Unsuccessful bidders will receive a full refund within 7 working days.

BidX1’s local team of commercial and residential specialists are available to arrange viewings, answer any questions about the properties, or to assist with registration.

To get in touch with the BidX1 Cyprus team, please call 22 000 380 or email [email protected]x1.com.

About BidX1

BidX1 is an award-winning digital marketplace for real estate, allowing buyers and sellers from around the world to trade property assets in an efficient and transparent way. BidX1 combines industry-leading property expertise with proprietary technology to provide unparalleled levels of transparency, analytics, and global reach, challenging the traditional process of marketing and transacting real estate. Since its first legally binding digital sale in 2015 in Ireland, BidX1 has developed and expanded in other markets, opening sales up to a global audience. BidX1 currently operates in the UK, Ireland and South Africa, and launched operations in Cyprus and Spain last year. Further expansion into other European markets is planned for 2021 to meet the demand for an alternative to existing sale processes. BidX1’s local office in Cyprus is located in Nicosia and offers services countrywide. For more information: www.bidx1.com

BidX1 Digital Sales

The BidX1 model offers transparency, efficiency and accessibility. All property documentation is available on the website for inspection by potential purchasers prior to bidding. The digital platform is accessible online on any device – mobile, PC or tablet – from any location around the world, providing the opportunity to register and bid wherever the buyer is.

Bidding on every property starts at the reserve price, the lowest price at which the property can be sold, and this is listed publicly on the website before a given sale. Anyone wishing to bid on a property is required to register on the platform, providing proof of identity and proof of address, as well as a deposit based on the reserve price. The deposit will be retained only if a bidder is the successful purchaser on the day of the sale; non-successful bidders will receive a full refund.

Every bid placed on a property is logged and displayed in real-time and can be viewed publicly on the website, while bidders are identified only by a number and thus remain anonymous.

Successful buyers will generally need to complete their purchase (transfer the full amount to the vendor’s solicitor) within six-seven weeks. The exact closing date for each property will be stated in the Contract for Sale, which is available in the legal documents for each property.

 

 

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