What is a Real Estate Auction?

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 -- including those that are non distressed -- through competitive bidding.

How will an Auction Benefit Me?

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