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Going, Going, Gone. Auction Your Home.

Monday, September 22, 2008 posted by Tommi Crow
Property auction

Property auction

 

 

Real estate auctions are a fast and efficient method for selling property.   They work on the principle of competitive bidding and provide an ideal situation for buyer and seller, alike.

 

The Benefits for Sellers Include:

  • Speed- The auction selling process is swift and accelerated. 
  • No Negotiations- Auctions eliminate haggling, counteroffers and remove the seller from the pain of negotiating.
  • No Home Showings- Buyers are given specific dates and times that the property will be Open to the Public for viewing, before bidding begins.  The process eliminates the hassle’s of showing the home to numerous people, one person at a time.
  • Certainty -The seller knows exactly when the property will sell, decreasing long-term carrying costs, such as mortgage payments, taxes, maintenance and insurance.
  • Qualification- Potential Buyers are required to Pre-Qualify for financing before they can bid on the property.
  • Exposure- Auction exposes property to a wide range of qualified buyers and the aggressive timeline to sale increases interest and urgency.
  • Competition-Auctions create competition among buyers.  Due to the competitive nature of auctions, it is not unusual for the auction price to exceed the price the seller would have gotten through negotiations. 
  • Real Value- Auction sales are live, real time events.  The auction process assures that the seller that the property was sold at its real market value.
  • Serious-Buyers who attend auctions arrive ready and willing to buy.

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