There are some common benefits of real estate sales done by the auction method that many people are not aware of so I have included them below:
1. Elimination of Negotiations - Because the price is determined through competitive bidding there is no need for back and forth negotiations that can sometimes lead to a property not selling after considerable time has been invested.
2. Increased Property Exposure -Auctions require an agressive marketing approach due to the time defined nature of such a sale. A professional real estate auction company will ensure a successful event by being masters of the marketing process.
3. Accelerated and Time Defined Sale - Sellers love knowing when their property will sell. When the auction date is set marketing begins with marketing usually done in 30 days with another 30 days to close. Knowing exactly when your property will sell and close provides a distinct advantage when making important financial decisions.
4. No Contingencies -The auction method allows the seller to sell the property in its current condition, with full seller disclosure. As a result, buyers will adjust their bid in consideration of repairs or work that is needed while giving the seller the benefit of a guaranteed sale without financial or repair contingencies. All due dilligence is performed prior to auction day.
It has been said that "time is money". This has never been more relevant than in today's society where time has become an ever more valuable resource. This has created greater demand for sales methods that appreciate the value of time. While real estate auctions have traditionally been linked to times of depression and thought of as the method of last resort, more and more sellers are chosing the benefits of a time defined auction sale as their FIRST CHOICE!
If you have questions about auctions, please contact me via mail message or give me a call at (913) 375-7560.
Harry Burgess
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