8 Great Reasons to Consider An Auction
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| NOW IS THE TIME TO AUCTION YOUR REAL ESTATE |
1. AUCTIONS ARE NO LONGER A LAST RESORT
In this fast paced real estate market, auctions are a great way to offer your real estate for sale. With demand high and the supply low, now is the time to consider the auction method of sale over conventional brokerage for your real estate.
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2. COMMISSION SAVINGS
Why pay 6% or more for conventional brokerage when you can sell your property in this hot real estate market for 2%? That’s what we charge to sell real estate at auction..
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3. YOU SET THE TERMS, NOT THE BUYER
Unlike with conventional brokerage, you decide when the auction will be and when the buyer must settle, plus more.
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4. CONTINGENCY FREE AGREEMENTS
No inspection, appraisal or other contingencies to worry about. Auction properties are sold in "as is" condition.
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5. TRANSFER TAX SAVINGS
Because you set the terms, our agreements provide that the buyer pays all of the realty transfer taxes, a 1% savings in most cases.
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6. TOP PRICES POSSIBLE
Using the competitive bidding process, prices many times soar above your expectations. In 2002, we sold over 90% of our auction properties at or above the owner’s expectations.
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7. LIMITED RISK & NO UPFRONT COSTS
The only costs to pay other than commission is the advertising, brochure preparation and attorney fee to prepare and present the terms at the auction. These typically cost around $3,000.00. We will prepay these expenses prior to the auction so that there are no out of pocket expenses until the auction date
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8. WE WON’T WASTE YOUR TIME
Since 1986 we have been selling real estate at auction. Our success rate is based on selling your property, not wasting your time. If we don’t feel your property is best suited for using the auction method, we’ll tell you that up front.
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Estimated Cost Comparison Based on $250,000 Sales Price
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Auction |
Conventional Brokerage |
| Commission |
$5,000 (2%) |
$15,000 (6%) |
| Transfer Tax |
0 |
$2,500 (1%) |
| Advertising Expense |
$2,500 |
0 |
| Brochures/Postage |
$300 |
0 |
| Attorney to Prepare & Present Terms |
$300 |
0 |
| Total |
$8,100 |
$17,500 |
In this example, you save $9,400 in sale fees using the auction method over conventional brokerage. Plus you set the terms and timetables that meet your needs.
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