Absolute No Reserve Auction - Golf Course Executive Home in Forest Creek

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Services for Real Estate Pros with AuctionFirst

Open House this Sunday January 18 from 3-4pm.  Live onsite auction will be held on Saturday March 7 at 10am. There is no reserve for this property. The retired sellers have relocated out of state and are selling their home to the highest bidder at auction. The property is owned outright and is free of liens. Here's your chance to own a beautiful executive home located on the 3rd Tee Box of Forest Creek Golf Course in Round Rock TX. Name your price.

Address: 2147 Hilton Head Drive, Round Rock TX 78664

Apx 4,977 sf: 4 BR, 3.5 BA, 3 living areas, 2 dining areas, office, huge master suite with separate exercise or nursery room along with separate his/her walk in closets with adjacent walk-in attic storage. Vacant and move-in ready condition.

For 360 photos and floorplan visit url:  http://www.floorplanhost.com/2147hiltonhead/

Visit the open house Sunday January 18th or call for an appointment to preview/inspect the property. Download a free property bid package from www.AuctionFirst.com. Subject to prior sale. 10% buyer premium. Auctioneer Linda Mardi TDLR 16028. AuctionFirst (800) 498-9428.

 

 

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Rainmaker
579,959
Dena Stevens Coriz
Rocky Mountain Realty - Canon City, CO
Putting The Real Into Realtor Since 2004

No reserve has always confused me. Does that mean if only one person shows up and bids $10 they get the property?

Jan 17, 2009 03:14 PM #1
Rainmaker
104,615
Linda Mardi
AuctionFirst - Austin, TX

Yes. I'll add that in an absolute / no-reserve auction, the seller has stated that they really want to sell and are willing to take market value, whatever it is.  Buyers determine market price by the amount they are willing to pay, not what a seller has listed as a price. With a no-reserve auction, sellers want it done. The property will sell.

Jan 17, 2009 03:19 PM #2
Rainmaker
579,959
Dena Stevens Coriz
Rocky Mountain Realty - Canon City, CO
Putting The Real Into Realtor Since 2004

My hope for your sellers and you is that you have lots and lots of people and traffic and the sellers walk away super happy!

Jan 17, 2009 03:42 PM #3
Rainer
28,223
Billy Burke
The Auctionarium - Altadena, CA
CAI - AARE

Great Job Linda:

An absolute or unreserved auction awlays delivers more net cash to the sellers because the bidders know they are serious.

Reserve auctions will see usually 3 to 7 registered bidders who are there with the proper deposit ready to bid and buy.

Absolute auctions will usually see 15 to 30 registered bidders who are at the auction deposit in hand ready to buy.

Auctioneers selling absolute are always chasing the 'last 10%' of the full retail value.

Debra: You must understand one thing about auctions, its GREED!

There is a mentality amongst buyers "if someone is going to steal it, then its going to be me..."

 

Jan 19, 2009 05:42 AM #4
Rainer
24,048
Michael Hoffman
Michael Hoffman & Associates - Pickerington, OH
CAI, AARE, CES, BAS

I highly agree with Billy's posting.  It's all about greed.  That's why absolute auctions are always the way to go.

Mar 16, 2009 02:45 PM #5
Rainmaker
579,959
Dena Stevens Coriz
Rocky Mountain Realty - Canon City, CO
Putting The Real Into Realtor Since 2004

So Linda, March 7th has been and gone. How did the action go?

Mar 16, 2009 03:01 PM #6
Rainmaker
104,615
Linda Mardi
AuctionFirst - Austin, TX

Hi All,

Over 200 parties visited this home in the 30 days prior to auction. That's a phenominal number for by anyone's record, especially in today's market. The home sold at a lively auction (kind of resembled a tennis match for a while) for $336,600. Buyer put $25,000 as non-refundable deposit into escrow and closed 3 weeks later. I'll post a separate blog on the specifics.  Not having a reserve made a world of difference to attract everyone/anyone.

Thanks!
Linda

Apr 04, 2009 10:38 AM #7
Rainmaker
579,959
Dena Stevens Coriz
Rocky Mountain Realty - Canon City, CO
Putting The Real Into Realtor Since 2004

Can't wait to hear more details later. Hope that includes a description of happy sellers!

Apr 04, 2009 10:48 AM #8
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Rainmaker
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Linda Mardi

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