Why Should You Auction A House?

Benefits Of Auctions

Creates competition between buyers resulting in higher price
Creates a set sale date eliminating guess-work as to when a property will sell
Offers sellers an alternative marketing option
Exposes the property both locally and nationally
Typically requires buyer to pay both transfer taxes resulting in a 1% savings to seller.
Takes the seller out of the negotiation process and eliminates time consuming contingencies
Allows seller to free up capital on a timetable to his/her advantage
Auctions signs create attention and urgency for action
Properties are generally sold within 6 to 8 weeks of listing
A buyers down payment is 10% thus creating a bigger commitment
A seller knows exact date when the property will sell and when proceeds will be received
Allows seller to set terms and conditions of the sale
Eliminates high seller carrying cost such as interest, taxes, heat, sewer, water, maintenance, etc.
Brings interested buyers to a point of decision

A buyer can be more creative with financing such as loans through VA, FHA, USDA, or other loans available through financial institutes
Sellers can pay up to 6% of the sale price to help buyers with closing cost, thus resulting in a higher price sale
Settlement dates can be negotiated to fit both the buyer and the seller’s needs
Contingencies can be set for both a buyer’s and seller’s advantage
Down payments can be negotiated to fit both a buyer’s and seller’s needs
Exposure in three Multi-Listing Services
Allows buyer’s to have a home inspection for any hidden defects, thus negotiating a higher sale price