One Man’s Money Pit…
Francisco and Magda, a couple living and working in Puerto Rico, owned a vacation condo near Disney World. They didn’t use the condo anymore, and it needed some updates and repair. They were paying condo fees and taxes each year and getting no return. They knew it was time to sell — but Florida was under a stay-at-home order.
Tranzon's team of professionals knew that potential buyers would not be able to view the condo in person, so they got the word out to investors that this property would sell to the highest bidder regardless of price, and they provided bidders with comprehensive images and information about the property up front so they could bid with confidence. An auction was held online for the condo so that potential buyers could participate from anywhere in the world without leaving home.
14 bidders competed online for the purchase of the couple’s condo. At the end of a lively auction, a total of 52 bids had been placed, and the winning bid was almost three times what Francisco and Magda expected from the sale.