Blue World City Balloting
What is a property balloting system?
In property sales, where there is more demand than supply, balloting and allotment systems are used. It is evident in many countries around the globe where there is a shortage of housing, and it is especially apparent when it comes down to new-build properties. If more than one person is interested in buying, an expression of interest is made (EOI).
Each party will need to sign official ballot papers. These documents confirm that they have committed to purchase if the ballot is successful. The next stage is the distribution of the properties. The winning buyer will purchase the property by drawing lots from a box.