Property Sold by Auction Method will be offered by one of three ways:
1. ABSOLUTE
This method will bring the most qualified bidders resulting in the highest price possible. No Reserve, No Minimum Bid. The property will sell that day REGARDLESS of price.
2. RESERVE
A pre-determined opening bid/reserve has been set by the Private Seller, Bank, or Courts. This number will be published and announced prior to the Auction. It is the lowest price accepted for the property. The bidding begins here until the highest and best bid is accepted by the Auctioneer.
3. SELLER CONFIRMATION
The Motivated Seller has a price in mind but is willing to consider the highest and best offer that day. The Seller is willing and prepared to sell. A suggested opening bid will be published that reflects a below “market value”.
How do I participate as a bidder?
Attend an Open House event or schedule a private showing and receive all documents.
Contact your lender for pre-approval or proof of funds letter.
Bidders will register with a valid Driver’s License and a Cashier’s Check (Deposit) day of Auction. Amounts differ from Auction to Auction. Bidders will be able to review all disclosures of property, terms and conditions of Auction and walk thru property prior to Auction start. Plan to arrive one hour prior to Auction. Bidders may, prior to Auction, schedule inspections or request any documents.
Winning Bidder/Buyer will sign Auction Purchase Agreement immediately following the Auction. All other Bidders will receive their Cashier’s Check immediately after Auction. Only the Buyer’s check is kept. Please read all terms and conditions which may be different from Auction to Auction.
And, as always feel free to call Auctioneer, Cynthia Schillig 614-205-2738 to find more answers !
Benefits For Sellers
- Auction revelas the PRE APPROVED ready, willing and able to buy
- Auction brings buyers to a point of decision without further re negotiation
- Auction is an aggressive advanced marketing program increasing the interest and exposure
- Auction Quick disposal reduces long term holding costs including maintenance
- Auction creates competition among buyers. Auction prices can be more than a negotiated sale price
- Auction assures that the property will be sold at TRUE MARKET VALUE
Benefits For Buyers
- Buyers know the Seller is committed to selling and assured of a clear title
- Buyers know they are competing on a transparent and "even" playing field with others
- Auction eliminates long negotiation periods and the closing date is known
- Buyers receive comprehensive information on the property in the Auction process
- Buyers determine their purchase price and may bid on line with our PHONE APP
- Buyers can prevent from losing the desired property due to contingencies
Benefits For Brokers
- 3% referral fee
- Auction offers another selling or buying option for Realtors
- Auction exposes pre-qualified buyers for your other listings not just the auction
- Auction assures property will be sold at TRUE MARKET VALUE
- Participating Realtors do not show property,take offers,negotiate or pay advertising costs
