auctions: I'm an auctioneer that usually talks sellers out of Auction!
- 03/17/08 03:08 PM
Yes Indeed. Sounds strange, but it's true.It isn't that I don't believe in auction as an aggressive and wonderful marketing tool for selling real estate, it's just that the market has changed and there are many reasons that auction won't work today. The number one reason is competition from bank foreclosures and other REO properties. They offer great terms, and bargain prices. Unfortunately. most sellers look at auction as a last resort, and wait until the property is stale before putting it on the auction block! Auctions are expensive and time consuming, and we are not in the business to lose money. Here's (15 comments)
auctions: Stop! Do NOT buy at an auction until....
- 03/09/08 12:57 AM
The most common questions I get about buying at one of our auctions is: "How does it work?" Auction law varies from state to state, and buying at auction requires additional preparation, but there are some things you need to know before bidding on a property at auction. 1) Read the terms and conditions of auction carefully, and make sure that you fully understand the information contained therein. You agree to the terms and conditions of the auction when you register to bid. These are binding, and if you are the successful bidder, you are obligated to perform according to the terms and (12 comments)
auctions: I'm an auctioneer, but I don't recommend auction for most buyers!
- 03/06/08 11:55 AM
Let me tell you first and foremost, I an a licensed real estate auctioneer and broker. I get calls every day from buyers wanting to get a good deal at an auction. We conduct voluntary auctions on a regular basis, but here's the reality of most cases: You can probably get a better deal on a short-sale than you can at an auction! I hate to say it, but it's true. We are bound to clear title on properties that we auction, and that means paying off mortgages and liens. In a short-sale however, the bank will actually take less than what is (8 comments)
As a real estate auctioneer, it is imperative that I secure the highest bid possible. The seller of the property is my client, and my business depends solely on my ability to get buyers to the auction, and to entice them to bid on the properties we are offering. It sounds easy, but its not. With so many foreclosures, short-sales and REO properties being offered, auctions don't fire up the enthusiasm as much as we would like. But if you find yourself at an auction, here are some tips: 1) If an auction is advertised as "Absolute," the property will (6 comments)
auctions: Some interesting facts about real estate auctions.
- 02/24/08 01:14 AM
Real estate auctions are everywhere these days. And with more and more properties being offered at auction, it is imperative that you know the ropes before venturing into the realm of competitive bidding. Here are some interesting facts about real estate auction: 1) Not all auctions are due to distress situations. As a matter of fact, the best auction properties are just the opposite. The properties that do well at auctions are the ones that everyone wants ... the lake lot on the point, the corner commercial lot in the busy area, the mountain house with the 360 degree view. These, (1 comments)