2 PROPERTIES, PLOTS AUCTION TOMORROW

MANZINI – There is less volatility when you invest in property than shares or other investments.

You earn rental income if the property has tenants and if your property increases in value, you will benefit from a capital gain when you sell. An opportunity to own land has availed itself, as a plot which consists of two modern houses will go under the hammer tomorrow. One of the plots has a modern four bedroom house,  with extra space to park. The house also has a swimming pool in the backyard. The second plot consists of a 40 per cent complete structure of a single storey detached house constructed with concrete block walls, partially plastered and rendered. The auction, according to Deputy Sheriff Musa Mavuso is set to take place outside the old Manzini Regional Administrator’s offices, starting at 11:30am tomorrow.

Plots

The plots were described as planned and adequate for construction. Forestry and dirt were removed in some of the properties and some have a well maintained fence which needs little attention. “The winning bidder is expected to pay a 10 per cent deposit at the end of the auction. The mode of payment will be agreed between the seller and the buyer,” said Mavuso. The base price, referred to as a ‘reserve price’ in auctions, has been reserved at a minimum of E1.2 million. However, as auctioneers often say, ‘the starting price is not important; what is important is the end price’. Depending on bids, this property could sell for higher prices on a good day. Mavuso urged potential buyers to keep time so the event goes smoothly. He assured that the highest bidder will be victorious.

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