Real Estate Auctions
We specialize in real estate auctions and have been selling real estate using the auction method for 40+ years.Sold over $100 million dollars of real estate in the last 10 years.Selling real estate at auction is not a new idea, in fact the Roman Empire was sold at public auction. Selling real estate at auction has become today’s fastest and easiest way to sell real estate for current market value. Competitive bidding by informed buyers can maximize the value of your real estate like never before and the best part is, it’s backed up with a check and a contact. It is the best appraisal you can get!
You can list your property for sale in the traditional private treaty method and hope to sell it in 6 to 12 Months, or sell it at auction in 6 to 12 minutes! In our current economy the climate for buyers and sellers has never been better. Competitive bidding by informed buyers can maximize the value of your real estate auctions like never before.
Seller Advantages: Selling Real Estate at public auction is one of the oldest and most effective methods of selling real estate. The following is a list of the seller advantages to expect when selling Real Estate at public auction:
- Auctions create competition among buyers, generate excitement, and heighten buyer interest
- Auction price may exceed the price of a negotiated sale
- Auction exposes the property to a large number of pre-qualified buyers. Selling at auction requires potential buyers to pre-qualify for mortgages
- Professional Marketing Campaign with sign on-site and auction advertising promotes interest and creates urgency.
- Accelerates the sale of the property-Real Estate can often be sold in as little as four to six weeks
- Eliminates high seller carrying costs, such as taxes, mortgage payments, utilities, maintenance, etc.
- Selling at auction generally requires the buyer to pay both transfer taxes. This can mean a 1% saving to the seller.
- Auctions bring interested buyers to a point of decision. Act now or lose the opportunity to purchase this property.
- A 10% deposit is required on the day of the auction. This creates a commitment on behalf of the buyer.
- Auction is the true market forum.
- The seller knows when the property will sell and when to expect the proceeds.
- Purchase property at fair market value based on selling price, not asking price.
- Eliminate often long negotiation periods and brings transaction to the table.
- Reduce time to purchase property and hold a closing.
- Gain confidence as they compete in bidding process realizing others are truly interested
- Do not have to worry about contingencies because purchasing and closing dates are known from the beginning.
- Feel better about purchase – just knowing there is a contending bid just one increment under purchase price.
- Buyers know property owners are motivated to sell and sense an advantage.
- Buyers can receive favorable financing within a few days of auction.
- Buyers set their own purchase price by negotiating the price up while bidding.