When
will the auction be held?
The
advantage with the auction method is that you can chose the date and
time of your auction. One of the many reasons auctions are so effective
is that your property is exposed to a wide variety of potential buyers
on a set auction date.
If
I put my property up for auction, do I have the right to refuse my bid?
In
a “Reserve” auction you have the right to refuse any bid
that is less that the agreed minimum bid. When you elect to use the
“Absolute” method of auction, the auctioneer has the option
of canceling the sale if it is deemed to be a situation that in not
favorable to the seller.
What
is the best auction method to use?
The
surest way to affect a sale is to auction “Absolute”. An
absolute auction generates the most competition, which leads to the
strongest dollar offering for you property. The second method is the
“Reserve” auction, which enables you to approve or reject
any or all offers.
Where
will the auction be held?
Most
auctions are held on-site. By being on-site, bidders are constantly
reminded of the positives features associated with your property. This,
in turn, might encourage a higher bid.
Does "As Is" mean I don't need to disclose any known
defects?
Though
a property is sold “As-Is”, we must abide by applicable
state and federal laws. All appropriate documents regarding property
will be available. The auctioneer will offer full disclosure to all
interested parties in accordance with the law. An inspection of the
property can be made by the purchaser or his/her representative during
the preview period prior to the auction.
Can
I attend an auction before agreeing to sell my home through the auction
method?
Certainly,
it’s strongly encouraged that you attend a live auction and experience
the process first hand. Simply speak to the auctioneer about upcoming
auctions in your area. Remember each and every auction is different,
so you cannot necessarily assume your auction will be exactly like the
one you attend.
I
am not in financial trouble and I am concerned about what people might
think if I should have an auction. What is your advice?
You
are not alone in your concerns. Many people are afraid of the old, outdated
perception of auctions. There are great differences in the marketing
and public image of a voluntary or “by choice” auction versus
a distress auction. Voluntary auctions are positive, enthusiastic events
designed to generate competitive bidding to secure the highest possible
price for your property. |