Why Sell at Auction?Today's real estate market is extremely cluttered. Due to market conditions, property inventories are extremely high at all price points. Thus, it is becoming harder and harder for a seller to garner attention for a property utilizing the traditional "listing" method for real estate sales.The "accelerated" marketing, or "auction" method, allows the seller to rise above the clutter and grab the attention of the potential buyers. Once the buyer is aware of the property and knows the property will be sold, a genuine sense of urgency has been developed with the buyer. This sense of urgency typically creates a very competitive bidding environment either at the auction event or in the weeks leading up to the event. The benefits to the Seller of the "auction" sales method include: - Buyers come prepared to buy.
- Offers have fewer contingencies making for a smoother transaction.
- Quick disposal reduces long term carrying costs, including taxes, maintenance costs and utilities.
- The sales process is very transparent; thus the seller can really see the true market value for the property
- The seller has an opportunity to sell, or at worst case, a point in which to begin a negotiation.
- By selling quicker, the seller can become a buyer with a "non-contingent" status, allowing him to become a buyer that has more leverage in the purchase of another property.
- The seller can determine the timing of the sale.
Why Buy from Auction?Each and every buyer strives to get the absolute best value for their dollar. Buyers that have purchased at auction will typically testify that they believe this is the best method of getting that value.The benefits to the Buyer of the "auction" sales method include: - Buyer knows the seller is committed to selling the property.
- Buyer has ample time in a non-pressured environment to examine and inspect the property using whatever professional resources they see fit.
- The buyer will know the true market value of the property based on the competitive bidding he or she has engaged in.
- The long negotiation process of "offer/counter offer" is eliminated.
- Purchase terms and conditions other than price are known in advance.
- Buyers know they are competing fairly and openly with other potential buyers.
- The buyer is in control.
Buying at auction is truly an exhilarating experience. It is a fully charged and very competitive environment that is a lot of fun to be a part of. While it is true that everyone wants a good value when they purchase, the purchase process itself should also be a fun, rewarding and enjoyable process. Buying at auction pulls all of these objectives together. Click Here for a complete list of all upcoming Micoley Auctions
|