Have you ever thought about selling your property at auction? Ask your realtor if you would be a good candidate.
Written by Ruth Anderson, Thursday, October 8, 2009
A real estate auction is an intense accelerated marketing process that involves the public sale of property through competitive bidding. Believers in the process are convinced that it can be a win-win situation for everyone involved, including sellers, buyers and realtors. In today’s real estate market, average days on the market has almost doubled from a few years ago, so if you are a qualified seller who is anxious to get your luxury home, tract of land, or condo sold, there is a way to get it under contract within a few hours and close in as little as 30 days. Traditionally, home owners and realtors have perceived auctions as “distressed sales,” but we have observed an increasing number of sellers who are anxious to divest themselves of particular real estate holdings through an auction venue. Consider these factors:
· Seller sets sales terms.
· Through competitive and open bidding, the property achieves its true market value.
· Bidders compete with each other for the top offer. No limit on upside potential.
· Urgency is created and each property is spotlighted through the advertising campaign.
· Seller is removed from the negotiation process.
· In many situations, buyer pays the commission, not the seller.
· Properties are sold “as is.”
· Buyer signs “No contingency” contract (some auction companies)
· Scheduled sale date
Talk to your realtor at John Farrell Real Estate today if you would like more information about this accelerated way to sell real estate. It won’t cost you anything for your realtor to represent you in this type of transaction, and you will have a professional to assist you.
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