nvestors looking to offload properties they have bought here in the UAE are known to use inventive schemes to lure buyers.
However, one investor has now opted to offer her property on auction site ebay.
In what is quite possible a first for a Dubai property owner, a 720-square foot apartment is on the 12th floor in Murjan 2 building of the Jumeirah Beach Residence (JBR) community is up for sale on the auction site with a reserve price of $200,000.
The title deed is issued in the name of Laura Leigh Post in June 2009.
Although Post could not be reached by Emirates 24|7 for comments, a note along with her listing, reads: “I will sell to anyone in the world, anywhere in the world, who has a PayPal account. Escrow will be utilised given the price of this auction. Alternatively, I can meet you in Dubai for the transfer of payment and papers.”
“I am open to negotiation and am even willing to consider holding a note for the right buyer, but would need at least an initial balloon payment,” she adds.
Post also says all of the [gross] proceeds from the sale will be donated to Marianas Psychiatric Foundation, a US federal 501(c)(3) organisation.
Not everyone is convinced of the auction route.
Speaking to this website, Suhail S, an owner of a two-bedroom apartment in Jumeirah Beach Residence, says: “I might not be using the auction method to sell my property if ever I plan to do so. I would stick the traditional method of getting an agent locally to sell my property. However, I will track this auction and see if the route can be of any help.”
Harshit Pandey, an owner of a two-bedroom apartment in Discovery Gardens, too isn’t interested in putting his property for sale on ebay.com or similar online auction sites.
“I’d rather explore all the possibilities locally… if that is not possible then I may list my unit on auction websites. But that is the last resort since I don’t ever want to sell at a discounted price.”
Property auctions have been unsuccessful in Dubai in the past, with the few online auction companies, which were active two years back, now becoming almost dormant. An auction, organized by the Dubai Land Department, for an apartment in the Greens community in November last year remained unsold.