Selling Real Estate at Auction

By selling your property at auction, you

Advertise to the correct market, where buyers see YOUR property.
Create competitive bidding, where all buyers bid as high as they are willing to pay.
Set the date of your sale. You choose the exact day it sells, rather than waiting for it to sell.
Set the terms and conditions and sell "as-is", with no contingencies and let the buyer do any repairs, as they see fit.
You don't spend a lot of money fixing up your property, which you don't recuperate in full.
You sell your property quickly and avoid long term holding costs such as interest, insurance, maintenance and taxes.

Auction Benefits

Auction marketing is accelerated and happens in a short time frame. An aggressive accelerated marketing campaign helps to assure visibility and interest.
Your marketing will be more intense and set you apart from other real estate for sale, as opposed to the long term, diluted advertising among hundreds of other properties in the conventional real estate market.
Buyers come to prepared to buy and will make a non-refundable deposit the day of the sale.
Competitive bidding compels buyers to pay their top price for your property, as competition generates desire and stronger interest in your property.
You sell your property with No Contingencies. Buyers do not tell you what they want done before they will buy your home or property.
Auctions are the quickest way to sell your property and receive the top offer.

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

The Auction Process

Contact Us to make an appointment.
You will be visited by a Professional Auctioneer to evaluate your assets or real estate.
You will be presented with a proposal with the terms, dates, and advertising expenses detailed during the visit.
Property preparation - we will help you evaluate the curb appeal and make suggestions that could affect your sale.
Sale location - The location of the sale is determined and will be evaluated to ensure safety, plenty of room and proper amenities for a successful sale.
When all sale terms are agreed upon, an exclusive right to sell contract is signed and the costs of advertising will be collected. All necessary disclosures and property information will also be needed, to develop the advertising and Bidder's Package.
We begin the process of putting your sale together. This will include photographs to be used in advertisements and developing the ads. The ads, flyers, mailers and signs will be designed and the ads will be placed in appropriate publications and websites.
If other assets will be part of the sale, such as personal property in an estate or business liquidation, depending on our agreement, our staff may start preparing your items for sale.
On the day of the sale our staff will arrive to set up for registration and prepare for the sale. During the sale we will register all qualified bidders, present your terms and conditions, call the auction, keep track of all bid transactions, and record all payments and deposits made at the sale.
Following your real estate auction and your confirmation of the sale, you and the buyer will complete the purchase agreement and set the closing date within 30 days.
At closing, your lawyer or a title company will disburse your proceeds to you and pay associated commissions to the auction company and brokers, as applicable.
If other personal property were included in the sale, we will provide a full accounting of sales, with a final settlement within 15 days for those assets, which is separate from the real estate.

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
	Serving Texas from the Greater Houston Metro Area



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