BSAC offers traditional real estate auctions all over the region on behalf of clients, as well as outright purchasing of AS IS property in Virginia Beach. We buy, sell and auction over 500 properties a year. Barrett Street will come out and evaluate your real estate free of charge and present a no obligation offer.
Real Estate Auctions
An estate consist of the personal property (contents of the house) and the real property (house and land). Barrett Street can conduct the sale of both personal and real property by auction or traditional real estate methods. Each method has advantages and disadvantages, which we can analyze and discuss with you to come to the best decision.
We are an Accredited Auctioneer for Real Estate (AARE), and BSAC owner, 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). We are also licensed Real Estate Agents in the state of Virginia so that we can also provide traditional property sale services.
We will provide you with a written proposal that will include a marketing plan, projected budget, comparable sales and auction calendar. 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.
The two primary types of Auctions for real estate are:
The Absolute Auction is generally the most successful type of auction. This type of auction indicates that the property will sell regardless of price. This encourages more bids, and 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 an auction. 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.
We Buy Real Estate
In addition to auctioning off property and real estate, we also purchase property outright as well. We can help alleviate the hassle of having to sell your real estate the traditional way including hiring a realtor and putting your house on the market. We will buy the house as is with settlement in 30 days or less. Our price will take into consideration the current market value, the state of the property, and the required investment for repairs or renovations.