QUESTION: What is a real estate auction?

ANSWER:
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.

QUESTION: How will an auction benefit me?

ANSWER:
The real estate auction is a win-win proposition for everyone involved.

BENEFITS TO THE SELLER:
- Buyers come prepared to buy.
- Quick disposal reduces long-term carrying costs, including taxes and maintenance
- Assurance that property will be sold at true market value
- Exposes the property to a large number of prospects
- Accelerates the sale
- Creates competition among buyers - auction price can exceed the price of a negotiated sale
- The seller knows exactly when the property will sell
- Eliminates numerous and unscheduled showings
- Takes the seller out of the sensitive negotiation process
- Ensures an aggressive marketing program that increases interest and visibility

BENEFITS TO THE BUYER:
- Smart investments are made as properties are purchased at fair market value through competitive bidding
- The buyer knows the seller is committed to sell
- Buyers determine the purchase price
- Auctions eliminate long negotiation periods
- Auctions reduce time to purchase property
- 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