Online Auction Website Brings U.S. Properties to Buyers in China
Newport Beach, CA – March 29, 2012 – (RealEstateRama) — The attraction of United States properties to Chinese buyers has been strongly documented over recent years due to record low interest rates and the drop in real estate prices; drawing investors to the opportunity of purchasing their very own piece of American real estate. As the property inventory levels continue to rise in the United States, foreign buyers are embracing the convenience of auctions conducted completely over the Internet as one of the best ways to invest in U.S real estate.
The Freedom Realty Exchange (FRE.com), a leading online real estate auction website, has partnered with REMM International, a leading U.S. based real estate management firm to deliver a secure and convenient auction platform to Chinese buyers interested in purchasing real estate in the United States. The global reach of FRE.com is a significant advantage to property owners wanting to sell but find themselves caught in the depressed U.S. market conditions. By expanding the buyer pool to foreign investors through an online auction, sellers increase their ability to attract more buyer attention and interest.
The website, available in Chinese, allows interested buyers to search a variety of real estate offerings; land, commercial, industrial and residential properties, and conduct their initial due diligence and property research prior to submitting their bid. All bidding is conducted online, as well as closing the sales transaction, making the purchase of real estate possible from the comfort and privacy of the buyer’s computer.
As a testament to online auctions being an effective bridge between overseas buyers and available U.S. real estate, a recent auction on FRE.com featured a commercial office building in Painesville, Ohio with a buyer from Tianjin, China. The building is located directly across from City Hall and the County courthouse, and anchored by a Chase Bank branch.
Having learned of the auction through an email marketing campaign, the buyer went to FRE.com and registered a user account. He easily downloaded all the available property information, submitted the required bid deposit through a convenient wire transfer, then proceeded to actively bid on the property through online bidding until he was the highest bidder.
“Perfect and super,” stated the Chinese investor about his experience closing the transaction. He also said that he would recommend FRE.com as the best option for a foreign buyer interested in purchasing property in the U.S. and he would definitely participate in another auction if he found the right property at the right price.
The auctions are broker-friendly, usually offering broker participation to the agent representing the buyer.
To view all current auction properties, go to www.FRE.com/REMM
The Freedom Realty Exchange®
The Freedom Realty Exchange is owned and managed by LFC Internet Marketing, Inc., a member of the LFC Group of Companies.For more than 30 years, the LFC Group of Companies has successfully auction marketed thousands of commercial, industrial, land and residential properties, with sales in excess of $5 billion; and for the last seven years, we have conducted real estate auctions exclusively online. We have successfully served numerous Fortune 500 companies, real estate developers, investors, financial institutions, government agencies and real estate brokerages, providing a complete suite of real estate disposition strategies and auction marketing programs for commercial and residential property and mortgage notes.
REMM International, Inc.
REMM International, Inc. has been providing consulting, education and asset management services to the People’s Republic of China since 1996. During this period, they have formed business partner relationships on both sides of the Pacific. The company values its close association with universities located in both The People’s Republic of China and the United States. Offices are in Anaheim, California and Beijing, China.
