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WHY WOULD A SELLER CONSIDER THE AUCTION METHOD OF MARKETING?


Difficult and Unique Properties. Auctions are perfect for those properties which have a narrow market for buyers or need a tremendous amount of expensive media exposure that Sellers simply cannot afford to do.

Estates. These properties need to be liquidated quickly. Usually heirs may be outside of the area and do not want or cannot maintain the property for an extended period of time. Also the AS IS condition of sales in auctions provide the comfort to the heirs that there will be no haggling for repairs after the home inspections.

Relocation. This is great for individuals who need to have a quick, effortless sale with no worries about repairs. This will allow the relocating party to enter into a contract for their new home immediately with a 30 day closing expected on the sale of their home. Auction properties close within 30 days of the actual auction.

New Construction Close Outs. The auction method is ideal when a builder has just a few properties left at the end of a project or the slowness of the marketplace leaves the builder with too much inventory on hand, thus resulting in large outlays of monthly interest and holding cost. The builder usually has started a new project and wants to cash out of the old project as soon as possible. The AS IS sale insures no additional extras will be required insuring the builder can move on to the new project within 30 days of the auction sale.

Quick Sales. Divorce, threat of foreclosure and retirement are some of the reasons a seller desires a quick sale. Auctions are perfect for any of these situations.

Bank Owned Properties. Auctions are perfect for all bank owned properties, special assets and foreclosed properties. The auction method is the best way to quickly dispose of large portfolio’s of bank holdings at prices that are typically 20-40% higher than bulk sales to investment groups.