Benefits of Auction to the Buyer

  • Properties are usually purchased at fair market value through competitive bidding
  • The Buyer knows that the Seller is committed to sale and is not testing the market
  • Buyers know that they are competing fairly, on the same terms and conditions as all other Buyers
  • Buyers determine the purchase price
  • The Sale is open and transparent
  • Auction eliminates long negotiation periods
  • Auction reduces the purchase time period
  • The Purchase closing date is known
  • Buyers receive comprehensive information on property via a due diligence pack

Benefits of Auction to the Seller

  • Buyers come prepared to buy
  • Quick disposal reduces long-term carrying costs, including taxes and maintenance
  • Assurance that the property will be sold at true market value
  • Exposes the property to a large number of pre-qualified prospects
  • Accelerates the sale
  • Creates competition among Buyers
  • Requires potential buyers to pre-qualify for financing
  • A firm deposit is paid on the fall of the hammer
  • The seller knows exactly when the property will sell
  • Eliminates numerous and unscheduled showings
  • Takes the Seller out of the negotiation process
  • Ensures an aggressive marketing program that increases interest and visibility
  • Commission is paid by the Buyer