Selling real estate at auction allows the seller to take control of the marketing process and establish the terms of the sale. The property is sold on the seller’s time schedule, not the buyer’s. The Seller is “selling” and the buyer is “Buying” a real estate property in “As-Is” condition so there is no negotiation process of contingencies including financing, inspection periods or repairs. Eliminating financing contingencies gives the seller a far greater certainty of closing on an auction purchase contract. The auction creates a competitive bidding environment giving the seller the best opportunity to obtain the highest possible price and the current market value of the property. The traditional overpricing of property to allow for negotiations many times kills buyer interest before the process even begins The Auction process allows everyone to participate regardless of their level of interest. The final price is determined by competitive bidding with no limitations to the top side of the market value.
