Selling Real Estate at Auction

Quick Comparison of Real Estate Sales Methods

Auction Conventional Sale

Begins by establishing date and terms of sale

Begins by establishing an "asking price" and all aspects of sale are negotiated

Advertising is extensive, exclusively featuring YOUR property

Heavy reliance on MLS - Minimal advertising and reliance on other brokers to find buyers

Marketing period is accelerated - Typically 30 to 60 days

Property may remain on the market for months or years

Your property is showcased throughout the entire marketplace and freezes other sales

The property is just one of many, being advertised and shown... just another listing

Buyers are forced to act on your time schedule, date, time and place

Lacks the ability to motivate buyers, forcing you to wait for their schedule

Auction creates a sense of urgency and buyer interest

Price reduction commonly used to create buyer interest and activity, but many buyers are gone by then

No limit on upside potential. Realizes the property's current market value

Upside potential limited by asking price

Eliminates guesswork in determining the asking price. Property sells for current market value and seller does not leave "money on the table"

Seller risks overpricing, only to have property sitting on the market, or under pricing and selling too cheap

Presets all conditions of the sale, thus eliminating all negotiations

The seller is forced to negotiate all aspects of the sale. Buyer makes offer in their favor, not sellers

All offers are presented at the auction and Buyers compete to own your property

Offers are received one at a time and you accept or reject them, hoping for a better offer. Multiple offers at one time are rare

Property sold in 30-60 days and closes in 30 days or less, eliminating expensive carrying costs

Length of time to sell is unknown - Mortgage payments, taxes, insurance, etc, continue until property is sold

Secures a No-Contingency contract

Contingent upon buyer to obtain financing, inspections, appraisals, etc.

Non-refundable down payment & cash closing. Sale is Not contingent on financing

Refundable earnest money. Buyer can easily back out, without penalty.

Seller pays cost of advertising expense. Commissions and most closing costs are paid by buyer

Seller pays commissions and closing costs are usually split. Seller may often pay additional closing costs, as negotiated

Gavel Line

The Auction Process
We can help you sell your property FAST with the Auction Method of Marketing.
Contact Us Today for information about the auction of your home or business.

Contact Us James Ford - Texas Auctioneer Lic. 12478 281-479-7848
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