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Having a property that has to be disposed for a limited period of time for whatever reason could be stressful. The holding cost for maintaining the property may seriously drain owner's equity. Thus, selling property through an auction brings the following advantages:

  • Property sells at true market value
  • Guaranteed sale date
  • Closing within 30 days - no contingencies
  • Sold "As Is" – no repair required
  • Seller do not pay commission
  • Generates competition among buyers
  • Eliminates sales price negotiation
 
 

Acquiring a property through an auction is favorable to the buyer. Numerous properties with above excellent condition have been sold at auction. Buyers' benefit from auction through:

  • Fair and visible competition among buyers
  • Acquiring property at fair market value – not overpriced
  • Faster move-in because of faster closing
  • Knowing the result on the same day
  • Assurance of seller's commitment to dispose the property
  
 
 
Buyer pay premium. Sellers pay 6-10% sales commission.
Arranged scheduled inspection date. Inconvenient property showing.
Sale date is guaranteed. May remain in the market for months.
Innovative and aggressive marketing campaign. Depends on the multiple listing service and minimal advertising effort.
Determines the true market value of the property. Tight negotiation with few buyer down the sales price
Close escrow in 30 days Usually takes a while in escrow.
Generates motivated multiple buyers competing to buy the property. Brings few buyers generated from limited advertising effort.
Property sold "AS IS". Potential buyers usually require repairs.
 

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