Going once… going twice… SOLD!
Why auctions work for everyone.
For Sellers
Our approach to auction marketing offers you a proven, straightforward way to convert assets into quick cash and reduce 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.
• 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.
• Urgency for buyers to act now; when buyers are together on auction day, strong competition drives up the price, in contrast with fixed-price listings.
• Complete control over closing costs, commissions, title, and other closing fees; These are negotiated in a traditional sale, but, at auction, the buyer will pay all of these charges.
• Selecting the day, time, and terms of sale, giving you the freedom to plan your next step.
• A finalized contract that is not usually contingent on financing, appraisal or inspections, and closings are fast, normally within 30 days or less.
• The option to subdivide larger properties into smaller tracts, greatly increasing the seller’s total.
• Efficient liquidation of multiple and even geographically scattered properties at one time, allowing you to reinvest your capital all at once.
• Complete elimination of haggling over terms and minute details.
• Reduction of numerous and unscheduled showings.
• A sharp focus of the market on on YOUR property; Buyers must pay attention to your property and make a decision since it is available only for a short time, putting it 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 desiring to sell that 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 complete control over what you decide to pay. Simply put, you name the price.
As with any other real estate purchase, it is important to do your homework. Here are some steps we suggest:
• 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 inspect the property before the sale. We strongly encourage bidders to inspect and become familiar with all aspects of 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 are not contingent on financing, so you’ll want to have this squared 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.