Real Estate Auction Seller FAQs
You’ve Got Questions–We’ve Got Answers
What types of properties are sold at auction?
Single-family homes, farms, commercial and industrial, recreational properties, condominiums, apartments, and raw land to name a few.
Why should I sell my property at auction?
Auctions are widely accepted as the first choice for many savvy sellers who understand the benefits of auction marketing. It is cost-effective and selling at auction means a quick sale. Auctions create excitement and urgency to buy which leads to an increased price obtained for your property in the shortest amount of time possible.
How soon can we have the auction?
After meeting with Gooch Auction Group for the first time, we can generally hold your auction within 30-45 days. In some cases, we can hold an auction in as short as 3 weeks.
Who is responsible for showing the property?
We will show your property to potential buyers.
Will people be in and out all the time?
We avoid constant interruptions by holding a scheduled open house at your convenience prior to the auction.
I want to sell my house at auction, how do I get started?
Simple. Contact Rony Jo to schedule a free no-obligation consultation. We will visit with you at your property and explain the entire process. You can reach us at 859-595-6808.
Should I try to sell my property first, if it don't sell then sell at auction?
This is not a good approach and we don't recommend this approach. When a property has been advertised prior to an auction, the property is then "labeled" with a price. However, when a property is marketed at auction the minimum acceptable price is determined between the seller and Gooch Auction Group and is not disclosed. Then all efforts are set forth to sell the property for the maximum amount exceeding the minimum acceptable price.
Where will the auction of my property take place?
We can hold the real estate auction on-site or hold the auction online with multiple bidding days until the closing time of the auction.
How soon can we settle after the auction?
The seller sets the terms for settlement; however, we recommend 30-45 days. As long as the buyer and seller agree, some properties settle in as short as 1 week.