Benefits to Sellers

/Benefits to Sellers
Benefits to Sellers 2017-01-17T22:08:29+00:00

Real Estate Auctions……
Benefits to Sellers!

Sellers Can Sell Without Paying a Commission!

The buyers pay a buyer’s premium for the privilege of buying at auction. Many sellers prefer this option rather than pay a seller’s commission.

Seller is in Control

Property sells as-is. Seller decides whether it will be an absolute auction or an auction with reserve. Seller decides the terms of the auction, the day of the auction, the closing date, whether it will be for cash or land contract. If land contract is offered, seller decides how much down, the amount of interest and length of the contract.

Michigan real estate auctions benefits to sellers

How Close to Fair Market Value, Does Real Estate Sold At Auction Bring?

We sell approximately 90 to 95% of all real estate that we offer at auction. At auction real estate brings fair market value. Fair market value is the price at which a willing seller is willing to sell, and a willing buyer is willing to pay without either being under compulsion to sell or buy. We almost invariably have a happy buyer and a happy seller.

Quick

Real Estate auction properties are marketed, sold and closed within weeks, resulting in reduced carrying costs and overhead. How?

Saves You Money

It is very expensive to hold property for months. There is costly building maintenance, lot maintenance (mowing, etc.) insurance, taxes besides lost money making opportunities which can be had, by cashing out on unwanted real estate.

Michigan real estate auctions benefits to sellers

Real Estate Auction Marketing Can Bring Better Results!

Auction marketing is highly concentrated, which causes any potential buyers to be present at the event. Real Estate auctions create excitement and competition, in open bidding, which results in quick sales and higher prices to help achieve a fair market price.

Urgency

A property is sold on a specified day and time. This creates motivation in buyers who may have been reluctant to make offers. This urgent motivation is not available through any other sales method.

Intense Advertising

Our intense auction marketing program brings together bidders who each want the property being offered. Because at auction, they must compete against each other, the highest price is obtained, for the seller.

Michigan real estate auctions benefits to sellers

Types of Real Estate Auctions

  • Residential-Land and buildings
  • Commercial-Land and buildings
  • Industrial-Land and buildings
  • Vacant land of all types – Large acreage parcels sell well. There are more options at auction, than conventionally.
  • Estates – We work closely with the heirs or estate representative
  • Waterfront Properties-Sell extremely well at auction
  • Multiple Properties-Homes, buildings or vacant sell well at auction
  • Unsold Developments

Michigan real estate auctions benefits to sellers

We auction individual properties on location, where a seller has only one property to sell. But we also sell multi property auctions where a seller has numerous properties to sell.

Another type of multi property auction is where there are numerous sellers who each enter their property in the same auction. The auction is conducted in a central location. A seller who has one property may choose to include their one property in an auction of this type with other sellers. The cost of marketing the properties are minimized for each seller, by pro-rating the costs of advertising to each property in the auction.

Results

True market value is determined in an open, live competitive bidding atmosphere which only an auction can provide. The seller can receive more offers in a few minutes at auction, than might have been obtained in weeks or months using standard methods. Millions of dollars of real estate can be sold in one day.