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REAL ESTATE AUCTIONS: THE BASICS &
BENEFITS
Looking for information about real estate
auctions?
What is a Real Estate Auction?
How will auction benefit me?
Benefits to the Seller, Buyer, and Real Estate
Agent/Broker
Q. What is a Real Estate Auction?
A. A real estate auction is an innovative and
effective method of selling real estate. It is an intense, accelerated real
estate marketing process that involves the public sale of any property -- most
certainly including those that are nondistressed -- through open cry,
competitive bidding.
Q. How will auction benefit me?
A. The
real estate auction is a win-win proposition for everyone involved.
BENEFITS TO THE SELLER:
* Buyers come prepared to buy
* Quick disposal reduces long-term carrying costs,
including taxes & maintenance
* Assurance that property will be sold at true
market value
* Exposes the property to a large number of
pre-qualified prospects
* Accelerates the sale
* Creates competition among buyers - auction price
can exceed the price of a negotiated sale
* Requires potential buyers to pre-qualify for
financing
* The seller knows exactly when the property will
sell
* Eliminates numerous and unscheduled showings
* Takes the seller out of the negotiation process
* Ensures an aggressive marketing program that
increases interest and visibility
BENEFITS TO THE BUYER:
* Smart investments are made as properties are
usually purchased at fair market value through competitive bidding
* The buyer knows the seller is committed to sell
* In multi-property auctions the buyer sees many
offerings in the same place at the same time
* Buyers determine the purchase price
* Auctions eliminate long negotiation periods
* Auctions reduce time to purchase property
* Purchasing and closing dates are known
* Buyers know they are competing fairly and on the
same terms as all other buyers
* Buyers receive comprehensive information on
property via due diligence packet
Current Auctions
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