selling real estate auctions absolute auction or otherwise this type of sale could
make a no bidder a high bidder
Real Estate Auctions offer
many advantages to motivated Sellers who are committed to selling their property.
If you are serious about selling, you should be speaking with us. Auctions are
our specialty and only business. While some professionals may observe an auction,
thinking it is a simple process, most lack the skill and experience to offer your
property and obtain top dollar. With American Eagle Auction Company, you're
dealing with certified real estate auctioneers. We received our certification
through extensive training in Mankato, Minnesota as 'Certified Real Estate Auctioneers'.
auction day, there is no substitute for experience. There is one chance for success
and you deserve the best, nothing less will do. Would you entrust a member of
your family to just anyone if they needed complicated surgery? The answer is simple,
and you would seek and demand the best. When considering your real estate,
the same effort should go into decisions concerning the company chosen.
Successful auctions are the result of dedication through hard work and a commitment
to quality. Consider the following advantages of a professionally conducted auction:
* Real estate
buyers Quick selling completely elimates long-term carrying costs such as taxes,
insurance, utilities, heating and general maintence.
Q. What is a Real Estate Auction? A. A real
estate auction is an innovative and effective method of selling real estate. It
is an intense, accelerated real estate marketing process that involves the public
sale of any property -- most certainly including those that are nondistressed
-- through open cry, competitive bidding.
Q. How will auction benefit me? A.
The real estate auction is a win-win proposition for everyone involved
ESTATE AUCTIONS ARE FOR DISTRESSED PROPERTIES. This is a brutal myth..
BENEFITS TO THE SELLER:
* Your property will
be SOLD at true market value
* Exposes the property to a large number of pre-qualified
* Accelerates the sale
* Creates competition among buyers -
auction price many times will exceed the price of a negotiated sale
buyers must register to bid with a certified bank check. If they become the successful
bidder, this payment is non refundable.
* You know exactly the date when you
will have a cash offer for your property!
* You keep your privacy through the
process! No unscheduled "showings"
* Eliminates the negotiation
process for the seller
*No negative haggling! Only at auction is the price
of your property negotiated upwards.
*The seller (you) remain in full control.
You either accept or deny the final bid price
* Market saturation! A
well orchestrated and aggressive marketing campaign will create A well orchastrated
and aggressive marking campaign is ensured to saturate the market
an aggressive marketing campaign that increases interest and visibility
TO THE BUYER:
* Smart investments are made as properties are usually purchased
at fair market value through competitive bidding
* The buyer knows the seller
is committed to sell
* In multi-property auctions the buyer sees many offerings
in the same place at the same time
* Buyers determine the purchase price
Auctions eliminate long negotiation periods
* Auctions reduce time to purchase
* Purchasing and closing dates are known
* Buyers know they are
competing fairly and on the same terms as all other buyers
* Buyers receive
comprehensive information on property via due diligence packet BENEFITS TO THE
* Generates a list of ready, qualified buyers
* Offers clients
and customers new selling and purchasing options
* Increases revenue and market
* Develops your own market niche
* Assurance that property will
be sold at true market value
* Property is sold within a relatively short
period of time
* Exposes the property to many potential purchasers
bring people in to look at all your listings, not just the auction listing
Successful auctions result in referrals and return business
* Agents can earn
commissions as referring agent/broker, cooperating agent/broker, or as the listing
Marketing Time: From
the time you make the decision to employ our services until auction day is usually
30 to 45 days, depending upon the property. Even in good markets, this compares
favorably with traditional sales methods. In good markets and low markets,
auctions create a competitive demand for your property sellingt it
quickly and efficiently.|
Costs of Ownership: Once
the decision is made to sell, the quicker the process can be accomplished
the better. Typical costs associated with the ownership of
real property can be drastically reduced such as maintenance, insurance, taxes,
and interest. Many times, over the course of traditional listings, market
conditions change affecting the price a willing and able purchaser will pay.
Even in good markets, interest rates fluctuate, thereby causing a risk in the
marketplace, over which you have not control.|
Qualified Buyers: Most
of the time, an auction finds success because the company you have chosen understands
the best means to reach a targeted audience. Marketing your property to
those incapable of making the decision to purchase or lacking the ability to purchase,
is a genuine waste of time and money. At the same time, your auction cannot
be kept a secret, advertising is essential to produce results.
Each auction marketing campaign is carefully planned and thought out to insure
all possible prospects become aware of your property and the opportunity afforded
by the auction scheduled.|
Marketing Time & Absorption: We
have successfully offered and sold many properties for lenders, developers, corporations,
and others with a need or desire to liquidate communities. This can include
developed subdivision lots, completed residential units, acreage, or nearly any
other type of real estate. At auctions, it is possible to accomplish in
one day what may have taken months or years to sell out using traditional methods.
Auction marketing is compacted into a well-defined time frame.
This reduces holding costs, interest charges, expensive marketing campaigns, and
risks associated with the marketplace.|
Negotiations Between Sellers and Buyers : At
an auction, all negotiations between sellers and bidders are carried out while
the auctioneer is at the podium. Offers to purchase are made
under predetermined conditions which bidders have agreed to comply with.
This eliminates the need for complicated negotiations, offers, counter
offers, and confusion. Through the process of competitive bidding, final
prices are established.|
Terms and Conditions of Sale: At
an auction, the terms of sale are determined in advance of the event. In
most cases, your property will be offered in "As-Is" condition requiring
interested parties to conclude any inspections they deem necessary before the
first bid is made. Upon the conclusion of the auction, the top bidder will
be required to execute a simple contract of sale requiring a non refundable deposit
of usually 10% of the purchase price. In most cases, the contract will
require closing 30 to 45 days following the auction. While many purchasers
obtain financing on properties purchased at auctions, the contract
is not contingent upon the ability to obtain financing. Many
purchasing at auctions are pre-qualified by mortgage lenders or have the ability
to close without financing. This allows you to leave the auction knowing
your property has sold.|
of Fair Market Value: Through
the process of competitive bidding, you can be assured your property brings a
fair price. This is contrasted with traditional listings as the final price
is achieved as qualified bidders react to your property. At an auction,
you are able to observe what others are willing to pay for your property.
It is one thing to obtain a current appraisal on your property or hear what brokers
think your property is worth, yet these are really not that important. The
price a willing, qualified purchaser is willing to pay on a date certain is really
what matters. This is the price achieved at professionally
conducted auctions and favorable compares to the written definition of current
market value. Sometimes auctions are equated to negative financial events
and, certainly, some properties typically offered are troubled. Many times,
properties become stale having been on the market for long periods of time.
Sometimes, they become shopped out, passed from one broker to another without
a sale. Some bidders attend auctions expecting to pay "pennies on the
dollar." The reality is most properties, when offered by professional
auction companies, bring prices that are fair to the seller and purchaser.|
on Your Time: In most traditional
listing agreements, there is no time frame stated for the sale of your property.
It could take as little as one day or as long as the listing lasts. At
auction, you set the date and time the property will be sold.
Auction advertising and promotion is designed to attract the attention of qualified
bidders who must act quickly as there is an established date and time for the
event. This sends a powerful message - you are motivated and
committed to selling.|
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can find many great Livonia
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need to take charge and contact your NAA auctioneer today!
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site is dedicated to the auction method of marketing and appraisal services in
the state of Michigan by auctioneer Ken Lindsay of American Eagle Auction & Appraisal