Going once… going twice… SOLD!
Why auctions work for everyone.
For Sellers
Our approach to auction marketing offers you a proven, straightforward way to turn your property into cash and reduce your holding time and costs. A professionally conducted public auction gives everyone the equal opportunity to make a “last and best bid,” which provides the ultimate assessment of fair market value. Bidders must make their decision while competing openly and aggressively to win. No other sale method creates this kind of urgency and competition. Auctions are your best opportunity to obtain not just a willing buyer, but also the best kind, one who actively outcompetes other bidders because they wanted your property the most. Additional advantages of auctions over other methods of sale include:
• Local, regional, and national exposure, which outperforms ordinary advertising and reaches a larger number of prospects.
• We offer the flexibility to showcase your property in a timed auction event online, which allows for even greater exposure to the market and enables wider bidder participation.
• There is an urgency for buyers to act now; when buyers compete on auction day, it drives up the price, in contrast with fixed-price listings.
• Sellers maintain total control over closing costs, commissions, title, and other closing fees; These are negotiated in a traditional sale, but, at auction, the buyer will pay these charges.
• You select the day, time, and terms of sale, allowing complete freedom to plan your next step.
• At the end of the sale, we have a finalized contract that is not contingent on financing, appraisal or inspections, and closings are fast, normally within 30 days or less.
• We have the option to subdivide larger properties into smaller tracts, which can greatly increase the seller’s total on auction day.
• Multiple and even geographically scattered properties can be sold at one time, allowing you to reinvest your capital all at once.
• There is no haggling over the sale terms and hashing out minute details.
• The fixed time frame reduces numerous and unscheduled showings.
• The market focuses sharply on on YOUR property. Buyers must make a decision soon because of the auction schedule, putting it far ahead of traditional listings.
For Buyers
Auctions offer the unique opportunity for you to purchase property where the playing field is level and the same terms apply to everyone. Other advantages are:
• You are dealing with a committed seller with a desire to sell on auction day.
• The fixed time frame allows for you to fully concentrate on the property and to be ready to purchase knowing you will have a set time and place to bid.
• Terms and conditions are clearly spelled out in advance.
• The transaction is completed in a timely manner, allowing you to make use of the property quickly.
• The public, open forum assures transparency during the sale.
• No other purchase method allows you control over what you decide to pay. Simply put, you name the price.
As with any real estate purchase, pre-sale inspection is key. Here are some suggested steps :
• Review available property information. We will provide available information such as plats, pictures, surveys, zoning information, and lead paint info for pre-1978 homes.
• Study this information and conduct all additional desired due diligence so you can bid confidently. Since properties are marketed in advance, there is plenty of time to prepare.
• Remember that finance, appraisal, and inspection contingencies do not apply.
• Visit and thoroughly evaluate all aspects of the property. We strongly encourage bidders to inspect and become familiar with the property prior to auction day.
• Review the terms of the sale. We want you to know exactly what you are bidding on and what the terms and conditions are for each auction.
• Pre-arrange financing, if needed. Auction purchases do not have a financing contingency, so be sure to square this away before auction day so you can close your purchase smoothly.
• Understand the property title. Be informed about items such as HOA’s, deed restrictions, zoning, plat requirements, redemptive rights, etc.