The advantage of a real estate auction is a win-win proposition for everyone involved. Property auctions are an effective and simple way of buying and selling real estate. Our process is an exciting, aggressive accelerated marketing method that is results-driven through the public sale of real estate engaging competitive bidding among buyers wanting a property at fair market value.
A majority of today’s auctions do not result from distress sales or foreclosures, but they are the result of a seller choosing an affordable, accelerated method of selling real estate at a fair price.
Selling at auction allows the seller to eliminate most long-term carrying costs, which passes the savings to the buyer. This ensures the purchase of the property at fair market value. The auction advantage is clearly a win-win situation…the seller gets a guaranteed cash offer at auction and the buyer knows they were on the same terms as all other buyers and competed fairly to have the opportunity to purchase this property at true market value.
The National Auctioneers Association expects residential auctions to balloon to 30 percent of all sales by 2010. One of the fastest growing auction segments since 2003 are real estate-related. Residential real-estate experienced the highest growth since 2003, increasing 46.6%. Gross sales of residential real estate rose from $11.5 billion in 2003 to $16.9 billion in 2007.
Real Estate Auction…so what is the advantage?
- Provides the opportunity to sell the property quickly
- Buyers come prepared to buy.
- Seller picks the date and time they want to sell.
- Buyer purchases at true market value.
- Reduces the carrying costs (mortgage payments, taxes, insurance)
- Provides buyer the opportunity to purchase property on the same terms as other buyers.
- Purchasing and closing dates are known.
- Eliminates lengthy negotiation periods between buyers and sellers.