With the real estate market as active as it has been in recent years, occasionally, a luxury residential real estate listing will make an appearance. And, one such listing has now come available at auction in Fort Lauderdale later this month. The property has a boat slip, private lot on the New River and all in lush tropical gardens. The property was previously listed for $4.9 million.
What is most striking about this auction-style residential real estate listing is that there is no minimum bid. With a previous asking price of nearly $5 million, that is unusual. The property, appropriately named, Casa del Rio, boasts luxury amenities, sure to catch the eye of many prospective buyers. With no minimum bid requirement, the residential property could go for any amount under or over their initial asking price of $4.9 million.
The auction is set to be held onsite on Dec. 9, 2017, at 11 a.m. In an auction, people making competing bids on the property. The property will then be awarded to the highest bidder, and the rest of the real estate purchasing process continues from there. Since this is an auction style sale, the closing process will likely be unique, perhaps even requiring an immediate cash closing.
Any person who would love to live the life of luxury amongst a lush and tropical Fort Lauderdale estate should make sure to attend the auction for the property. But, know should know their financial limitations before bidding. And, one may want to enlist the help of experts before entering an auction-style home buying process. This is a non-traditional way to buy a residential real estate property, but it could be a great way to score one’s dream home.
Source: The Washington Post, “Waterfront home with boat house and slip, in Fort Lauderdale, recently listed for $4.9 million, is up for auction,” Michele Lerner, Nov. 30, 2017