Bidding at a rush

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I was experiencing such a scenario last Monday. I have on several occasions discussed the situation of real estate over here. Just have a well furnished house and expect a tenant to come knocking. Especially in the heart of the town, it is something that the demand is even expected to skyrocket in the coming years. Our part of the country is becoming the next focus for real estate entrepreneurs and indeed I don't want to miss out in the coming years.

Ok, I experienced a bidding Rush in the offline environment. Talking of experience, I am still arguing out with one of my CEX accounts on the need to reduce requirements for account access. If you have been following up with my writing, you will know more. Anyway, in a nutshell, I was told to provide so much evidence to prove I am the owner of that account. What did I reply back? The requirements you are looking for from me is just too much for account recovery.

I am just imagining the customer support agent reading my feedback and feeling this particular individual has some nerves. Ok, it is not being stubborn here, the fact is, there are so many things that could have been easily done but our old ways of prioritizing paper and long days of formality for responses cripples the whole process. I mean with evidential credentials like BVN or even NIN, this is not something that should even take up to 30 mins to be done with.

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It is one of those things again I do experience while in the banking hall. You still want to be sure it's me and you are asking for a passport and some other credentials and also telling me the info will be processed within 2-3 working days. Come on, there is a thumb printing device connected to your system. This is just a matter of minutes and the truth finds expression or do I have anyone in the globe sharing my same fingers prints.

As for them (Cex wallet support center), the later feedback is that I should TRY and provide ALL the needed for security purposes; ‘please do well to get back to us when all documents are available’. I will see what I can provide and if it feels too stressful I will also fire back. Oh! I have completely gone out of track again. So where were we? Ok, I remember.

That said, back to the TOP, it was an apartment that a tenant just moved out of. Fortunately the tenant just completed his own personal living building. A good thing to hear anyway, I love it when I see improvement and growth.

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There was an earlier fixed price of 400k for yearly rent. It seems those who came demanding were a little sluggish in paying (their idea was a needed price reduction to at least 350k). Anyway, The Apartment needed some renovation touches after the old tenant moved out.

I must say, the real estate business is also very complicated. You have to look at unexpected expenses; wearing and tearings are one of those. It could be the bathroom walls, Kitchen cabinets or even a needed replacement on the roof.

A good one the landlord didn't hesitate to personally fix this. This was when the competition entered another level. First, the landlord was not willing to give out at 400k anymore; 450k or leave it. Anyway, housing prices over here are still very affordable, I have heard of such apartments going for prices in the millions in places like Lagos, Port Harcourt and Abuja.

To conclude, let me add, old bidders came back willing to pay the updated price. It was something I was observing through my office window. Two different persons were already waiting for the landlord to return while others were heading straight with agents to examine the apartment. What do you do when everyone is willing to pay at your newly set price? It was more of a battle between buyers as one was ready to capitalise on any immediate shortcomings of the other. Ok, the apartment has been taken, that is something I will find out exactly by tomorrow. I learned something from the entire scenario, from real estate value to quality apartment settings, it can be to the advantage of the entrepreneur..

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