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Seller
does not have to worry about
selling
too cheaply
-
Offers the seller
another option besides traditional realty
-
Creates competition
among buyers; auction price can exceed the price of a negotiated sale
-
An auction generates
excitement and heightens buyer interest
-
Property is sold as is,
where is and how is without contingencies
|
Seller
does not have to worry about
selling
too cheaply |
|
Exposes the property to
a large number of pre-qualified prospects |
-
Requires that potential
buyers pre-qualify for loans
-
Exposes the property to
a large number of pre-qualified prospects
-
Accelerates sales; the
property can sometimes be sold within three weeks of listing
-
Eliminates high seller
carrying costs (such as interest, taxes, maintenance)
-
Auction brings
interested buyers to a point of decision; they must act now or lose an
opportunity to purchase
|
-
Auction is a true market
forum; the highest buyer pays the lowest price a seller will accept
-
A seller knows exactly
when the property will sell
-
Seller is able to move on to other investments and free
up capital
-
Seller is able to obtain
liquidity
-
Auction eliminates
numerous and unscheduled showings
|
Seller knows exactly
when the property
will sell |
|
Reduces the time
the property is on the market |
-
Auction takes the seller
out of the negotiation process
-
Auction is an
aggressive, advance marketing program that increases potential interest in
and awareness of a property
-
Auction reduces the time
the property is on the market
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