In today's ever changing real estate marketplace, Auctions have become an increasingly viable solution to buy and sell real estate. Auctions offer numerous benefits for Sellers.
For the Seller, these benefits can include:
- Provides a proactive alternative to traditional selling methods
- Choosing an acceptable selling price.
- Accelerated and enhanced marketing that stands out and attracts potential buyers
- Creating a energetic environment and marketplace that encourages potential buyers to bid
- Choosing your date of sale
- Receiving numerous bids from pre qualified/pre approved buyers.
- Satisfies need to sell quickly
- Eliminates drawn out and often tricky negotiations
- Creates an environment for "Getting the deal done!"
Types of Auctions
Absolute Auction:
An Auction where the property is sold to the highest qualified bidder, regardless of price. The seller may not bid personally or through an agent.
Reserve Auction:
An Auction in which the seller maintains the right to establish a Reserve price to be met or exceeded before agreeing to sell.
Minimum-Bid Auction:
An Auction in which the auctioneer will accept bids at or above a disclosed price. The minimum price is always stated in the brochure and advertisements and is announced at the Auction.
Sealed-Bid Auction:
A method of sale utilized where confidential bids are submitted to be opened at a pre- determined place and time.
Comments(1)