Annualy we conduct dozens of high profile real estate auctions. We routinely sell lakeshore, farmland, hunting ground and residential properties at auction throughout Minnesota. There are many benefits and advantages for buyers to buy at auction and sellers to sell at auction.
Why buy or sell real estate at auction?
Auctions enable a seller to sell their property in 90 days or less. A typical auction marketing campagin from start to finish is less than 3 months. This includes the pre-marketing stage where data is gathered about the property, the marketing stage where the property is actively marketed, auction day where the property is sold, and the post-auction stage where the property is taken to closing.
Auctions enable the buyer and seller to openly and mutually agree on fair market value of the property. There are numerous methods to determine the fair market value of a property. However, at auction, a fair market value is established through the competitive bid process. A buyer is assured they are not overpaying for the property because another buyer bid one bid increment less than he or she. A seller is assured they have obtained the highest and best value for the property because all interested parties are notified of the auction, attend the auction and openly bid on the property.
Auctions are active marketing campaigns. By creating a high-impact marketing campaign, we are able to provide maximum visibility for your property. We tailor our campaign to reach target markets likely to purchase your property. We direct mail to all property owners within 36-square miles of your property and often within 100 or more square miles of your property. Rather than wait for the buyer to come to us, we go to the buyer.
At auction the seller sets the terms of sale. No longer are sellers tied to offers contingent upon financing, inspections, or the sale of the buyer’s home. Property sold at auction is sold to the highest bidder without contingency. Sellers and buyers are able to make plans based on a timely closing without the fear of a purchase agreement going bad.
If you’d like more information on selling your property at auctoin or buying a property at auction, please contact us!