Quick Sale. Closed in 30 days or less.
AUCTION
Could be on the market for months or years.
TRADITIONAL
No limit on buyer offers.
AUCTION
Buyers' highest offer is limited by asking price.
TRADITIONAL
Property sold 'As Is' with no contingencies.
AUCTION
Properties often sell with contingencies. Contract fall through or after numerous inspections the seller is asked to make concessions, repairs, or lower their price.
TRADITIONAL
Extensive advertising on your property.
AUCTION
Minimal advertising. One of many homes on the market and often lost in the shuffle.
TRADITIONAL
Terms set by seller before auction.
AUCTION
Seller must negotiate many aspects of the sale.
TRADITIONAL
Urgency promotes buyer interest.
AUCTION
Price reduction encouraged to create buyer interest and activity.
TRADITIONAL
Price is bid upwards to realize maximum market value.
AUCTION
Upside potential limited by asking price – Price is usually negotiated down.