Buyers and Sellers Win at Auction
Auction industry continues to grow in real estate market
OUT OF AN ALLENTOWN ATTIC
Philadelphia Antiques
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2007-08-01 G. Hess
2007-08-01 Great Auctions! Great People!… Don and Joan Bingham
2007-08-01 Mr. Lundberg
2007-08-01 Sandy Ackerman
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Selling Real Estate at Auction
By 2010, 30 percent of all real estate transactions will be auctions
according to the National Association of Realtors (NAR).
Selling real estate has traditionally been a time consuming process for both the seller and buyer. Negotiating over price, terms and contingencies is a lengthy and often very frustrating process. Auction helps to simplify the process by allowing the marketplace to determine the sales price through competitive bidding and by offering the property with predetermined non-negotiable terms that have no contingencies.
Tom Hall Auctions represent sellers with one common goal, to sell their real estate in the shortest time frame with the least inconvenience and for the best possible price. Our team of professionals is dedicated to making your real estate auction a success. Prior to the auction we will discuss your goals and specific needs. We will extensively research your property and help you determine the best way to market your real estate. We will then implement our strategic “Accelerated Marketing Program” that is designed to reach buyers that will be interested in owning your real estate.
WHY AUCTION!
- Quite simply auctions work! If your goal is to sell quickly and effectively auction is for you!
- Sell in 4-5 weeks!
- Settlement usually within 30-45 days after the auction!
- Extensive marketing program designed to sell your property!
- Known sale date! Known settlement date!
- Deal with serious qualified buyers!
- Sell (as-is) with no contingency contracts!
- Seller sets terms & conditions!
- Convert property to cash quickly!
- Auctions appeal to buyers!
- Eliminate carrying cost!
- Seller can set minimum price!
- Auction can exceed expectations!
- Buyers compete for your property!
Let Us Auction Your Property
Call Today! Our Experience, Knowledge and Talents are ready to work for you.
Types of Auctions
Absolute Auction
A property that is offered at absolute auction means that the property will absolutely sell to the high bidder regardless of the price. There is no minimum and the seller cannot reject the highest bid at the auction. The main advantage of an absolute auction is that it generates maximum response from the marketplace. Since the sale is guaranteed, buyer participation and excitement are maximized.
Auction with Reserve
An Auction with reserve means that the property is being offered subject to the seller accepting or rejecting the high bid. By utilizing an auction with reserve the seller can be flexible in accepting or rejecting all bids. The main advantage to the seller in this type of auction is they are not obligated to accept a price other than one that is entirely acceptable to them.
Minimum Opening Bid Auction
In this type of auction a minimum selling price is established prior to the auction that is acceptable by the seller. The auctioneer will accept bids at or above the stated minimum opening bid. The minimum opening bid is stated in all advertising. In order to be affective the opening bid must be low enough to act as an inducement to buyers. Buyers immediately can decide if the property represents a fair value to them.
How does a seller decide what type of auction is best for them?
Frequently it is determined by the type of property that is being sold and the seller’s particular needs. Call us today for a free no obligation, confidential consultation and proposal.
Real Estate auctions are a win-win situation. The seller sells their property quickly at a fair price and the buyer purchases the property for only one bid more than the next willing buyer.