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FAQ Part IV - Follow up Questions? - 04/14/07 10:20 PM
Where do you get the particulars about auctions state to state? I would start by searching with keywords auctioneer & your local state, you should get a hit on a local auctioneers association or at least a local auctioneer. Most auctioneers, if they below to the local association, will have their logo and link to the association web site. Another place to get information about auctions/auctioneer is the National Auctioneers Association website http://www.auctioneers.org/ Have sellers been getting their price at pre-auction or at auction? Rarely does a home sell pre-auction even though it is an option. Buyers are looking for a steal, they are hoping no one shows up, and (1 comments)
FAQ - Auction - Part III - 04/12/07 09:45 PM
What is the Buyer's Premium? The buyer's premium is a service charge that is added to the high bid for our public auctions. A 10% Buyer Premium is normal additional to the winning bid. In this regard, buyers pay our fee not the sellers. Sheriff's auctions or foreclosure auctions generally do not have buyer's premiums. What do I need to bring to the auction in order to bid? You need to bring a State of Ohio ID or Drivers license and either cash, personal check or certified funds as indicated in bidders package or by advertisement. Letters of credit are not accepted. Are (2 comments)
FAQ - Auction - Part II - 04/12/07 09:36 PM
Are all properties suitable for auction? Most properties, but certainly not all, are saleable by auction. Some property that has been on the market too long, causing prospective buyers to consider it "tainted." Or a home that was poorly constructed or planned. These types of properties don't sell well by any method, price is what makes these properties sell, so you must have realistic minimum to list such properties.One method used by auction firms to determine marketability is the two-thirds rule. A rule of thumb is that if two out of three parts (market, property, seller) lean favorably toward auction, then (3 comments)
Why should real estate agents look favorably on auctions? - 04/11/07 10:05 PM
Increasingly, real estate agents are discovering the benefits of real estate auctions. They are realizing that auctions promote activity in an industry that thrives on activity. Agents can get involved in auctions themselves. If an agent brings a buyer to an auction, and that buyer purchases property, the agent can receive a commission. To ascertain the amount and structure of any commissions to be offered, refer to the particular terms and conditions of the auction contract. This should be previewed prior to buyer viewing the property. In Greater Cincinnati area, the number of homes being auction off are increasing do to the increasing number of (2 comments)
Auction - F A Q - Part 1 - Definitions - 04/11/07 09:53 PM
FAQ What is a real estate auction?A Real Estate Auction is a method of buying and selling real estate. It is an intense and accelerated real estate marketing process that involves the public sale of property through open, competitive bidding. What is an absolute auction? An absolute auction is a public auction without a reserve or minimum. This means that the property, once the auction begins, it will be sold that day. (OHIO) What is a reserved auction? A reserved auction is a public auction with a reserve or minimum. This means that the auctioneer will determine whether to pass the property and (7 comments)
Seller Benefits from selling real estate at auction! - 04/10/07 08:23 PM
Seller Benefits from selling real estate at auction! Auction is an aggressive, advance marketing program that increases buyer's interest in, an awareness of a property and maximizes the selling price. Accelerates sales. Reduces the time the property is on the market. Auction brings interested buyers to a point of decision; they must act now or lose an opportunity to purchase. The property can sometimes be closed within 30 days of auction or sold before auction. Creates competition among buyers. Auction is a true fair market forum. Auction price can exceed the price of a negotiated sale. Never worry about selling too (4 comments)
Purchase property at fair market value in open competition. Buyers set their own purchase price. Buyers know sellers sell at lowest price possible. Eliminate long negotiation periods. Reduce time to purchase property. It takes the agent and the seller out of the negotiation.Do not have to worry about contingencies because purchasing and closing dates are known. Terms of offer are same for all buyers. Buyers know sellers are motivated to sell. Buyers can receive favorable financing. Property is sold based on competitive offer, not timing of offer, or who's first. (0 comments)
Greater Cincinnati Real Estate Buyer Counseling - Auction and Traditional Sales - 04/10/07 07:10 PM
Your professional agent should provide these services whether you are buying a new construction home, existing market home or home at auction. When buying a home at auction, a professional real estate agent can help you by helping to determine the market value of a property. They do this based on their experience in the area, knowing the neighborhood boundaries and values. In Cincinnati there is a large hidden market of homes available because of the number of foreclosures, number of properties in short sale, the number of homes being sold outside the MLS. Ask your agent if they can provide these services, and remember (1 comments)
Pat an Auctioneer on the Back! National Auctioneers Day - 04/08/07 12:40 PM
Vicky Carlton, Auctioneer, CES,CVS and Proud to be a member of this elite group! National Auctioneers Day to be celebrated Saturday, April 21 Auctioneers across the country will celebrate National Auctioneers Day on Saturday, April 21. Some plan special auction charity events, while others had their Governors' sign proclamations, and some are doing media interviews to draw attention to the growing and changing auction profession. Auctioneers also are holding open houses and speaking to community groups about their trade. National Auctioneers Day was created by the National Auctioneers Association as the third Saturday of April each year to draw attention to this vital industry (1 comments)
Steps to Getting Your Finances in Order - 04/07/07 12:37 PM
Run your home like a business, and get your finances in order. Define a budget/plan, work within expense and income requirements. And review your plan weekly/monthly/annual to ensure goals are being met. 1. Develop a family budget. Instead of budgeting what you'd like to spend, use receipts to create a budget for what you actually spent over the last month. Analyze this data every week/month/year going forward to see if goals are being met. Your plan should include income, expenses, and savings. Establish rainy day fund and create a house fund. Don't just plan on saving whatever's left toward a down payment. Instead decide on (0 comments)
10 Ways to Make Your House More Salable - 04/04/07 08:20 PM
1. Get rid of clutter. Throw out or file stacks of newspapers and magazines. Pack away most of your small decorative items. Store out-of-season clothing to make closets seem roomier. Clean out the garage.2. Wash your windows and screens to let more light into the interior.3. Keep everything extra clean. Wash fingerprints from light switch plates. Mop and wax floors. Clean the stove and refrigerator. A clean house makes a better first impression and convinces buyers that the home has been well cared for. 4. Get rid of smells. Clean carpeting and drapes to eliminate cooking odors, smoke, and pet smells. (0 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.