|
| |
When and Why to Use The Auction
Process
Auctions are
especially beneficial in the following situations
-
If the property is highly
desirable. Competition will spur active bidding and maximize the sales
price
-
If it is determined that the
reduced holding costs provided by a timely sale at auction will provide the
Seller with a larger percentage of retail value than a sale by private treaty
-
When the Seller needs to
liquidate the property quickly
Everyone Benefits
from the Auction Method!
Benefits to the Seller
-
Extensive marketing plan
places your property in the spotlight, and exposes your property to a large
number of qualified, targeted prospects
-
Auctions set no ceiling
price, allowing price to be negotiated up not down
-
Attracting a large number of
interested buyers stimulates competition. Price may exceed the price by
private treaty
-
Only qualified prospects
attend the auction, not just "lookers"
-
Seller sets the terms of the
sale and approves the type , amount and timing of marketing efforts for the
property. Seller doesn't have to leave the marketing of his property up
to the real estate agent, who often doesn't have a large marketing budget
-
The Auction setting allows
you to see competitive bids on your property in a few Affiliated Auction
minutes
-
Auctions bring prospects to a
point of decision. They must act or lose the opportunity
-
Converts non-performing
assets into cash and/or performing assets
Benefits to the Buyer
-
Reduces time, eliminating
haggling and sometimes fruitless negotiations. Much quicker than other
methods of purchasing
-
Builds confidence.
People feel better about their bidding and purchase knowing there were
contending bids just under their bid
-
Helps buyers reach a decision
quickly
-
Contingencies are eliminated.
Because buyer is already pre-qualified, there's no guess work regarding
financing approval. The buyer knows when he will buy and when he will
close
-
Buyer is competing with
another buyer, not with the seller
-
Auctions bring out the best
buyers because the sales prices are publicly known, not negotiated behind
closed doors.
|
