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Thinking About Auctioning Your Naples Luxury Home?

By
Real Estate Agent with John R. Wood Properties

Hello Naples Friends,

Now that we're seeing some softening in the Naples real estate market, I'm also seeing the return of gimmicky real estate practices, including auctioning as an alternative to traditional real estate sales practices. 

In a recent post about Naples real estate auction results, I cover the history of the high-rise Trieste at Bay Colony condominium and the trials and tribulations that occurred during the selling process of this property. 

I recap the entire history of Trieste at Bay Colony and give you some insight into what has happened since its inception.

I also talked about what I experienced during the advertised auction and conversations with several buyers, friends, and family of people who considered this property.

Are you thinking about hiring an auction company to sell your Naples property?

  • You'll want to pay attention to the additional fees you will incur.
  • Ask questions about overall timelines, including auction date extensions, and what that means to your bottom line.
  • What type of buyers you're attracting to your property?
  • Find out what costs you incur if the auction is unsuccessful.

Are you thinking about participating in a Naples luxury real estate auction?

  • Your fees could go up as high as 10% or more. Make sure you read the fine print!
  • You may not have any right to professional inspections; read the fine print!
  • You may have no recourse on known property issues; read the fine print!
  • Understand the contracts auction companies use to protect themselves and not you.

While auctions can be a great way to secure a property at lower than market value, you can also set yourself up for catastrophic failure. Read this post about a Florida man being duped $1,000's of dollars during another Florida auction.

Whether you're buying or selling property in Naples, Florida, you already have an ample group of high-quality professionals who can assist you with your endeavor. You'll be better served to go with a professional with the experience you want with the ethical stands you desire to help you handle your Naples real estate investments.

For more information about how to buy or sell a terrific Naples luxury property, contact me directly!

 

Posted by

Serving my purpose through content-rich information about Naples, Florida real estate!

Best Regards!

Naples Real Estate

Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223

“The opinions expressed herein are those of the author and do not necessarily represent the views of John R. Wood Realtors.”

 

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shannon, nice to see you again, it's been a while!  Great post for those homeowners thinking of selling in Naples.

Aug 16, 2019 01:23 PM