INSTEAD OF FEARING IT AS A LAST RESORT!
Time, speed, increase in price through competitive bidding, reduction in the cost of carrying a property, immediate attention focused on a specific property, and creation of a sense of urgency to buy.
Reasons to have an auction:
- Time Demands – Need to sell?
Typically you can be sold & closed in 60 days. That means money in your pocket!
- Partnership Arguments
Corporate or Marital
There is not an easier way to settle an estate. It is sold, closed and settled quickly and efficiently.
Often times, if notified in time, we can stop this entire process.
- Corporate & Tax Planning
Often times an auction will help sellers meet a definite deadline needed to reap tax savings. (Example: 1031 Tax Exchanges)
Properties suitable for auction:
Most any property can be sold at auction:
- Multi Housing
- Farm & Ranch
Over mortgaged, very low equity properties are hard to sell in any market under any condition.
Why sell at auction:
Dramatic Growth in the sale of Real Estate at Auction:
In recent years the United States economy has experienced dramatic growth in the sale of real estate at auction. It is no secret that the real estate market has been in turmoil. In fact, the auction of real estate in the United States in the near future will result in tens of billions of dollars of property changing hands. Auctions sell property, period.
Auctions Create Urgency and Competition
Auctions are exciting events, forcing qualified buyers to a single moment of decision. Buyers must seize the opportunity on auction day.
Competitive bidding increases interest and prices. Most importantly, real estate sales are confirmed within minutes – sales that could have otherwise taken months or even years to generate and finalize.
- The seller pays no commission
- Know exactly when property sells and closes
- Reduces the cost of carrying a property
- Immediate attention focused on a specific property
- No contingencies, close in 30 days
- Property Sold “as is”, no repairs
- Stimulates competition, enthusiasm and excitement
- Creates a sense of urgency to buy
- It’s natural to want what others do
- Creates a buying atmosphere, bringing buyers to a point of decision
- No negotiation
- No objections
- Increase in price through competitive bidding
- Turns lookers into buyers
- Use emotion to your advantage