Selling Real Estate at Auction
The sale of real estate at public auction in the United States has a rich history of success. Today, auctions are more a part of the American way of life than ever. Auctions are an important sales tool and a positive step based on informed business decisions, as well exciting events where bidders can compete directly on equal terms.
Whether you are an attorney, banker, board member, broker, builder, business owner, developer, executor, heir, homeowner or investor, the reasons to sell property through auction are as many as they are compelling.
Properly-marketed, professionally-conducted real estate auctions are not fire sales, as often erroneously portrayed. They are a proven technique for selling property in an accelerated time frame at true market value. 98% of all auction sales close successfully as the high bidders can be immediately required to give a significant non-refundable deposit and to sign a contingency-free Purchase & Sale agreement. As of auction day, buyers are heavily vested in the transaction, resulting in a near certainty of sale that helps sellers plan with confidence because they know when their property will close and when they will be paid.
Buying Real Estate at Auction
• Smart investments are made as properties are usually purchased at fair market value through competitive bidding
• The buyer knows the seller is committed to sell
• Buyers determine the purchase price
• Auctions eliminate long negotiation periods
• Purchasing and closing dates are known
• Buyers know they are competing fairly and on the same terms as all other buyers
• Buyers receive comprehensive information on property via bidders packet
Bidding & Buying Tips for Real Estate Auctions
• It is important to physically inspect the property
• If you will need financing you must make arrangements before auction day because auction day purchases are not contingent upon the bidder obtaining financing
• Read the Terms and Conditions on the sale’s details page and familiarize yourself with them
• You will be required to show the registration clerk the required deposit, in the form of a cashier’s check, as well as your driver’s license prior to receiving a bidder card
• If you are a successful bidder, you will be required to pay the necessary deposit set forth in the Terms and Conditions for that particular sale
• Dont forget to take into consideration that the buyer’s premium will be added to your final bid.
Personal Property Auctions
Skyline Auctioneers offers exciting live auctions held on-site. An auction at a home can be a wonderful selling experience. Many of our auctions are held at homes, farms, and businesses. We can arrange a banquet hall or conference center when the need arises.
Skyline Auctioneer’s can be your single resource for selling at auction, with our ability to offer the contents of an entire estate, from fine art and antiques to jewelry and household goods. Our experienced staff also won’t miss items of significant value that may be overlooked in ‘house’ and ‘tag’ sales.
Consignments
Skyline Auctioneer also accepts consignments from individuals looking to sell items in the auction marketplace. To learn more our consignment agreements, please call us.
Benefit Auctions
The thrill of A fundraising auction and event’s overall potential for success is determined long before the guests arrive. The silent auction tables are buzzing and casual chatter is heard. Long before the first item is brought to the auction block and an eager sea of bidders waive their bid cards high in the air in support of your nonprofit organization, waiting to hear the auctioneer say SOLD!