Last Call! Sold, to the highest bidder! If you have frequented an auction anytime soon, you are most likely familiar with those words. The auction platform is used around the world for real property, cattle, personal property, automobiles, equipment, and many more items. One of the most effective uses, however, is a real estate auction.
The most appealing part of an auction is it’s quick and efficient timeline. A real estate auction can typically be marketed, sold, and closed within 60 days. When you sell your property at auction you eliminate carrying the costs of selling on your own and the stress of waiting for your property to finally sell. As the seller, you get to choose when your property sells, how it will sell, and when you can collect your funds.
On the day of the auction, buyers come financially prepared to potentially own the property you are selling. It’s an exciting and intense process that creates competitive bidding. Competitive bidding creates a sense of urgency which will, in turn, create energy and ambition for the buyers. This will especially show if you have quality property in an area with minimal property for sale.
Did I mention that your property will establish the true market value on the day of the auction? Because of the auction format, it creates a great amount of interest and incentivizes buyers to pay the maximum amount that the market calls for. An auction is the best way to establish your property’s value, manage the terms of the sale and also close in a timely manner.
Choosing your auction company to lead you through this process is of high importance in order to be a successful seller. Your auction company needs to provide an established and educated auctioneer, provide a marketing plan that is tailored to your property, and a hand-picked venue that will serve your property and buyers.
Your auction company should have these following qualities; It should be a national company with a wide range of resources and connections, this provides a broader range of pre-qualified buyers and will ultimately help to raise the price per acre. It should have a team to provide you with an auction proposal, details of a marketing strategy, and an estimated timeline. The company should also guide you through the entire auction process. From beginning to end the auction team should communicate with you to ensure that the process goes smoothly.
If you are interested in possibly selling your property at auction, contact National Land Realty Auction Services. There is an established and qualified team ready to help you.