Questions & Answers About Auctions

Why use the Auction Method?
The Auction Method is fast, expedient and professional. The term "auction" automatically creates interest. This method attracts buyers, often on properties that are no longer receiving showings. close within 30 days without any contingencies.

What Type of Properties are Auction Properties?
All Properties are Auction Properties, but not all seller circumstances lend themselves to the auction method.

What Will People Think if I Auction My Property?
This is a fair question. Our goal as auctioneers is to assist the seller in meeting their objectives. We market your property in the most professional manner. People are going to think what they want under all circumstances. As long as we bring you the most money possible it doesn't matter what people think. You are moving anyway.

My Property is Priced Below Market Now. What is This Going to mean if I Register for Auction?
Often times we find that price is not the issue regarding the reason a property hasn't sold. The primary cause for it not selling is often that there has not been adequate traffic and, therefore, sufficient interest in the property. The auction process is the best way to revive interest and instill excitement that will result in a positive sale.

What is a Buyer's Premium?
A Buyer's Premium is a percentage amount added to the highest successful bid to determine the contract price.

Who Pays The Auctioneer's Fee?
The auctioneer fee may be paid via the buyer's premium or the seller may pay the fee at settlement.

My Realtor has had no Previous Experience with Auctions. Will this Impact My Results?
No. We work very closely with realtors guiding them through the process. We offer Realtor Educational Sessions that focus on awareness and comprehension of the Auction Process.

Do You Offer Educational Programs For Buyers and Sellers?
Yes. Programs are offered regularly for both buyers and sellers. A step by step program has been designed to inform and produce a level of comfort for the buyers and sellers.

Why Would A Buyer Want to Purchase at an Auction?
Auctions simply produce opportunity for both buyer and seller. Buyers for the first time can state via the bid, what they are willing to pay for the property. This sets the market for that day. Sellers can either accept or reject the high bid. Most of the time the offer is fair the seller will accept and a property is sold. Both buyer and seller have a win-win result.

If I'm the Seller, does "as is" Mean That I Do Not Have to Disclose Known Defects?
Though you are selling "as is" you must abide by all applicable federal and state laws. All required disclosures must be made available including "Lead Based Paint". Just because you are selling at auction does not release you from the following law.