Time Is Money
When a seller realizes this fact, choosing to liquidate at auction makes great business sense. There are many benefits to selling at auction.
First, the seller determines the date of the auction. The auction is scheduled around the specific needs of the seller. Various events in a seller's life such as the purchase of another property, a transfer related to a job, the inheritance of a property or chattel all have a bearing on the date and time of your auction.
Secondly, the seller determines the terms and conditions. You as the seller control these very important aspects of the sale. They are structured to meet your needs as a seller and all buyers are bound by what your needs are not theirs.
Thirdly, there are no contingencies regarding the sale of the property. Everyone has heard of or been a part of a transaction that was either canceled or seriously modified due to financing issues, inspection requirements, appraisal issues, etc. These problems are eliminated when you choose to market your property at auction. The buyer may choose to get inspections prior to the auction. However, they are purchasing AS IS with no contingency. The inspection is the buyer's expense.
Finally, there is no limit on sale price. We are hearing more and more about property that is listed in a traditional method having multiple offers. This leads to the obvious conclusion that they were priced too low. At auction the market determines the price.
Have questions? Call or email us. We will gladly help in any way we can. The auction method of selling is not the best choice in all situations but it may be the perfect choice for you!