The Auction Advantage
For Sellers:
Our progressive marketing techniques represent the fastest way to convert assets into immediate cash and reduce holding time and costs. And, a properly marketed, professionally conducted, public auction will produce a fair market sale price. When buyers have the equal opportunity to make their “last and best bid,” this provides the ultimate appraisal of fair market value. Interested parties must make a decision while competing openly and aggressively to win. No other sale method produces this kind of urgency and competition. Auctions are your best opportunity to obtain not just a willing buyer, but the best kind, one who actively outcompetes other bidders to win because they wanted your property the most. Other seller advantages are:
• We provide local, regional and national exposure, outperforming ordinary advertising and reaching a larger number of prospects.
• We prepare a video package complete with drone photography and narration to showcase your property’s features to maximize its presentation on the internet.
• We can offer your property in a timed auction event online, allowing for even greater exposure to the market.
• An auction’s urgency motivates buyers to act now, and by bringing them together on auction day, strong competition drives up the price, in contrast with fixed-price listings.
• The buyer pays the commission, title and closing fees, which are normally negotiable, or might otherwise be paid by the seller in a traditional sale.
• You pick the day, time, and terms of sale, giving you the freedom to plan your next step.
• Offers are not contingent on financing, appraisal or inspections, and closings are fast, usually 30 days or less.
• Larger properties can be subdivided and sold in tracts, increasing the seller’s total.
• If you have several properties to sell, an auction allows for efficient liquidation of those properties in one day, allowing you to reinvest your capital at once.
• Numerous and unscheduled showings are eliminated, and there is no haggling over price and terms.
• Competition between other similar properties in your area is eliminated and the market is focused on YOUR property.
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 timeframe 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 and apply equally to all buyers.
• The transaction is completed in a timely manner, allowing the buyer 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:
• Request property information. We can provide available information such as plats, pictures, surveys, zoning information, and lead paint disclosure info for pre-1978 homes.
• Study the information available on the property. Prior due diligence will enable you to freely bid at the auction with confidence.
• 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 we can close your purchase smoothly.
• Understand the property title. Properties are sold with marketable title. Be informed about items such as HOA’s, deed restrictions, plat requirements, redemptive rights, etc.