Nothing brings out the bargain hunters like an auction. Or, at least that’s what the developers of the Allure are hoping. The Allure is holding their first condo auction on Saturday, April 18 at 1:00 p.m. Here is an excerpt from the press release:
“We only have ten units available for sale through this special process,” said Sarah Prinsloo, Vice President of Sales and Marketing for Allure Las Vegas. “These luxury residences are part of a limited group of previously cancelled purchase contracts, wherein the buying parties forfeited a significant portion of their deposits when they cancelled. Thus, Allure’s developer is able to offer these units for sale again at great prices.”
Interested parties can preview the units the day of the auction, from 11:00 a.m. to 1:00 p.m. Buyers are required to put 15% down at the time of purchase. However, according to the auctioneers there is a 10% buyer’s premium attached. That’s pretty steep compared to the auctions held last year that ranged from 3% to 5%. The developer’s website states that new units are priced starting in the $200,000’s.
Last year, property auctions were all the rage. Auctioneers convinced overloaded developers that an auction was the answer to their prayers. The results were mixed. Quite a few communities that had them ended up with quite a few units left over.
If you would like to receive listings of the current Allure condos for sale or you are interested in attending the auction, call me at 702-493-8033.
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