You are currently viewing What Is Plot Balloting? Plot Balloting File & Non-Balloting File

What Is Plot Balloting? Plot Balloting File & Non-Balloting File

People ask the difference between a plot balloting file and a non-balloting file.

A plot balloting file

a plot balloting file is a person who is going to be allotted a plot no so the person knows the accurate location like plot, street no, sector no.

Non-balloting file

A non-Balloted file is a person who knows the information about the area of the plot. But they do have not proper allocation of the land until the balloting is done.

A balloting and allocation procedure.

In property sales where demand exceeds supply, a balloting and allocation procedure is used. We see this in many nations throughout the world where there is a housing shortage, and it is most noticeable when it comes to new construction properties. When more than one party is interested in purchasing, an expression of interest (EOI) is issued first.

In turn, each side must fill out official ballot papers, which serve as a binding commitment to purchase if the ballot is successful. We’ve reached the stage of allotment, where those properties are dispersed. The bulk of the time, allotment is done in a purely random manner. The winning buyer can then complete the purchase of the property in question after a lot is picked from a box. It really is a lottery and there’s no doubt that the process leads to a number of unhappy buyers.

Read: A Solution For Major Home Buying / Selling Challenges