Get to Know the Property at a Real Estate Auction with a Proper Bidder Package
One of the key components to a successful real estate auction is to have a well informed group of interested buyers. Rowell Auctions, Inc. strives to keep the most updated, detailed, and relevant information accessible at the fingertips of the clients for each real estate auction. The more information the buyer is able to obtain for the property offered at auction, the easier the closing becomes. There is utmost attention to detail by the auction coordinator when preparing a real estate auction property report package. The due diligence by the coordinator encompasses everything from traveling to the site for inspection, pictures, parameters, location, boundaries, zoning, etc. All of these tasks will be done whether it is a live real estate auction, or it is an online only auction. All these steps and much more have to happen in order to have a successful auction, offering the most comprehensive material to the buyer so that no questions are left unanswered by the time of the closing. Our goal is to disclose as much possible information to the buyer, and the "As Is" terms, so as to avoid any misconceptions or misunderstandings of the property being sold.
Many people are interested in real estate auctions, but may not know or understand the auction business and how to participate in real estate auctions. By posting definitions and examples I hope to give a better understanding of real estate auctions terms. These terms are direct definitions given by NAA (National Auctioneers Association). You can view more real estate auction terms at www.myersjackon.com
The package of information and instructions pertaining to the property to be sold at an auction event obtained by prospective bidders at an auction. Sometimes called a bidder packet or due diligence package.