Selling at Auction

Seller Advantages

Seller at Auction.

Auction offers the seller an alternative marketing strategy.
Auction creates competition among buyers – auction price can exceed the price of a negotiated sale. An auction generates excitement and heightens buyer interest.
Auction exposes the property to a large number of pre-qualified prospects.
Auction requires that potential buyers pre-qualify for loans.
Professional auction sign on property in and of itself creates urgency and action.
Accelerates sales – The property can sometimes be sold within six to eight weeks of listing.
Eliminates high seller carrying costs – (such as interest, taxes, water, sewer, heat, maintenance, etc.)
Auction generally requires buyer to pay both transfer taxes (1% savings to seller).
Auction brings interested buyers to a point of decision – they must act now or lose an opportunity to purchase.
Auction requires buyer deposit of 10%, thus calling buyer to a greater commitment.
Auction is a true market forum – the highest buyer pays the lowest price a seller will accept.
Auction reduces the time the property is on the open market.
Auction eliminates numerous and unscheduled showings to unqualified prospects.
Auction takes the seller out of the negotiation process and eliminates buyer contingencies and payment of buyer closing costs.
Auction is an aggressive, advance marketing program that increases potential interest in and awareness of a specific property and gives the exact address for drive by prospects.
A seller knows exactly when the property will sell and when final settlement/closing will occur.
A seller sets the terms and conditions of the sale, maintains control of the property throughout the auction, and actively participates in the sale process.
Seller has professional Realtor and Associates working with a professional Real Estate Auctioneer to market their property in the most efficient way.
Seller is able to free up capital and move on to another house or investment.

View Buyers/Sellers Frequently Asked Questions