Why Auction Your Home?
Because It Gets Results!
Real estate auctions eliminate time consuming private
negotiations. Focused marketing brings in the maximum number
of qualified buyers. Prior financing arrangements ensure
earlier closure of the sale. The money you might have spent
for insurance, taxes, and maintenance while the property is on the
"market" is freed for more productive purposes. But there's
more:
- You never have to worry about selling too cheap-- you can
set a minimum price or reserve the right to reject final bids.
- Auctioning your property creates competition amongst
buyers-- auction prices can exceed the price of a negotiated
sale.
- The auction process brings interested buyers to the point of
decision-- they must act now or lose the opportunity to
purchase.
- You pick when it sells and when it closes.
- Your property is sold as is, where is, and how is.
- Auctions eliminate numerous inconvenient and unscheduled
showings.
- Your property is exposed to a large number of potential
prospects through two or three one-hour open houses.
- All potential buyers are required to prequalify for loans
and must deposit a certified check in order to bid.
The buyer's check will be deposited as partial earnest money and
the other bidder's checks will be returned following the
auction. The check amount varies based on the price range
of the house.
- You set the terms and conditions of the sale and maintain
control of your property throughout the auction (depending on
auction type).
- The buyer pays our commission when a Buyer's
Fee is used. The high bid plus the buyer's fee becomes the
total selling price. As seller, you pay no commission
when your property is sold...only marketing costs are charged to
the seller.
Types of Auctions
An Absolute Auction
is an auction without reservation--the seller must
sell the property to the final high bid. Absolute auctions
attract a lot of bidders since it guarantees
a sale. The disadvantage is the
property sells despite what the owner believes is an appropriate
price. Unless advertised as an Absolute Auction, however, all
auctions are with reservation.
An Auction With Reservation
allows the seller the right to reject the final
high bid price. The advantage is the seller isn't obligated to
accept an unacceptable price.