Reasons to Consider an Auction
Lower Commissions:
We
charge 2% commission to sell real estate at auction.
Sellers pay advertising, brochure costs, and a nominal
attorney fee to present the agreement at the auction.
You
Set the Terms:
Our real estate auction contracts
are contingency free agreements. There are no mortgage or property
inspection clauses to worry about.
When it’s sold at auction, it’s sold, or you keep the
deposit, less expenses.
Settlement When You Want It:
You determine the settlement date, not the buyer.
This makes it easier to make moving plans.
Transfer Tax Savings: Because
the seller sets the terms, our auction contracts state that buyers
pay all realty transfer taxes, a 1% savings in most cases.
Potential Higher Prices:
In this sellers market, property prices many times soar above
seller’s expectations using the competitive bidding process.
Meet Fiduciary Responsibility:
Court officers, executors and other fiduciaries favor the auction
method because of its objectivity and fairness. Being an arm’s
length transaction that achieves the fair market value, the auction
method of sale supports a fiduciary’s responsibility.
Honest Opinions:
If we don’t think your property is best suited for the auction
method, we’ll tell you up front.
Our success is based on selling your property, not wasting
your time.
Experience Counts:
With over 30 years experience in the real estate business, you can
expect reliable service and sound advice.
Our Business Is Not a Sideline:
We offer full time office hours and handle appointments 7 days a
week, unlike many part time auctioneers.
Superior Marketing: From quality color brochures,
professional signage, and internet exposure, our marketing programs
showcase your property to many potential buyers looking in the area.
No Deposit Required:
We will prepay all advertising and brochure costs prior to the
auction, which you can reimburse us for after the auction.
Cost Comparison
Auction Method versus Conventional Brokerage
Based on sale price of $300,000.00
ESTIMATED COSTS |
CONVENTIONAL BROKERAGE |
AUCTION METHOD |
Commission |
(6%)
$18,000.00 |
(2%)
$6,000.00 |
Transfer Tax |
$3,000.00 |
Buyer |
Advertising Expense Estimate |
$0.00 |
$3,000.00 |
Brochures/Postage |
$0.00 |
$300.00 |
Title Co. Disbursement Fee |
$35.00 |
$35.00 |
Attorney Fee |
$50.00 |
$350.00 |
Estimated Cost of Sale |
$21,085.00 |
$9,685.00 |
In this example the cost
savings are $11,400.00