How the Auction Method differs from Traditional Sales:

The Seller(s) control the sale

The Seller(s) set the “reserve Price” (minimum sales price)

·         Often the “jammer price” (sales price) is higher

The Seller(s) set the settlement date as part of “Auction Terms”

·         Auctions usually settle in 30-45 days

No  Seller’s paid commission

·         Buyer pays “premium” to cover auctioneer’s expenses

No  Seller paid closing costs/fees

·         Buyer pays closing cost/fees

No  showings

·         Property opened 1-2 hours for property preview only

No  negotiations

·         Property sold “as-is” “where-is”

No  contingent contracts

·         Buyer obligated to purchase per “auction terms”

·         The auction sales contract is not contingent on financing

No  repairs

·         Property sold “as-is” without warranties

Limits carrying costs (monthly mortgage payments, HOA fees, taxes, interest, etc.)

American Auction & Appraisal advertises to:

·         Achieve maximum exposure

·         Reach the broadest universe of qualified bidders

Auction process motivates interested parties to action 

ALL THIS FOR A MIMIMUM WHICH COVERS INITIAL ADVERTISING COSTS.

Note:  In the current market, the auction method allows Seller(s) to reduce their asking/reserve price

making the house more attractive to more buyers while retaining their bottom line.

 

Just Sold

Copyright © 2007 American Auctions & Appraisals, Inc.