If feasible, Barrett Street Auction Center can conduct an on-site personal property auction at your estate including auctioning the real property (home) if you desire. As an Accredited Auctioneer for Real Estate (AARE), when you contact us for potential real estate auctions, all of our proposals are written and include: the Marketing Plan, Projected Budget, Comparable Sales, and Auction Calendar.
To properly advertise and conduct the real estate auction the Auction Calendar assists in completing deadlines and marketing objectives including contract signing, online advertisement, flyer mailouts, and onsite open houses as well as the closing date. From the date of your decision and contract signing to the date of the auction is typically 30 days. All closings are also customarily within 30 days of the auction.
Due to the current housing market trend, the sale of real estate using the accelerated auction system is a fast and effective way to sell. In choosing Barrett Street Auction Center, your property will receive a partnership with one of the country’s most designated Auctioneers. Thomas Giroux is a member of a select group in the United States that holds the National Auctioneer Associations prestigious designation as an Accredited Auctioneer of Real Estate (AARE) and all other certifications offered by the National Auctioneer’s Association (NAA).
The present real estate local market is not due to change in the next 6 months. An onsite Live Auction would allow you or your client to potentially sell real estate within 30 days. Utilizing the traditional sales approach of listing the property with a Realtor might include increasing carrying costs, vandalism, ongoing maintenance, real estate tax, insurance, and the potential decline in market value. However if you prefer the traditional method, Tom and Sandra are local realtors and can assist you in selling your real estate.
The two primary types of Auctions for real estate are:
The Absolute Auction is the most successful type of Auction in most cases. This type of auction encourages bidders to believe the property will sell regardless of price. The more bids, the more likely the property will sell at Market Price. Although the seller bears a risk, there are often more advantages to this method due to possible monthly expenses incurred of keeping the real property. This method does carry legal obligations if the seller refuses to accept the final price bid when the Auction is absolute or unreserved.
The Reserve Auction combines the Seller’s need for security with the motivational impact of the Auction Sale. This method provides the seller with the right to set a minimum price at which the property will be sold. If the property does not sell, it has been exposed to a large audience who have expressed an interest. A negotiated sale may be entered into with the highest bigger at that time.
For more information about our Real Estate Auctions, please contact us at (757) 463-1911.