Live and Online auctions are a quick and effective way to turn real estate and other assets into cash. The entire process, from signing the contract to closing, usually happens within about 60 days.
Unlike a traditional real estate agent transaction, commissions are charged to the person buying the real estate and are NOT deducted from the seller’s proceeds. This Buyers Premium is added to the final bid to determine the purchase price.
There are two types of real estate auctions. Auction with Reserve - Like any real estate transaction, you as the seller decide up front what you are willing to accept. If the final bid is at or above your “reserve” amount the property sells, if not you can decide to accept the lower amount, reject the final bid or make a counter offer. Absolute Auction – Property sells to highest bidder regardless of price.
Competition creates excitement and auction bidding is exciting for buyers potentially driving the sales price up on desirable properties. Our professionally designed marketing plans are designed to maximize the exposure for your property.
Real Estate auctions typically do not include contingencies. Real estate is sold “As Is Where Is”. Buyers are bidding based on the information you have provided in the disclosure statements and they are aware the sale is final.
Winning bidders are required to make a substantial down payment at the conclusion of the auction demonstrating their qualifications as a buyer.
In most cases we pre-schedule times prior to the auction when potential buyers can view the inside of the home and complete any inspections reducing the need for you to change your schedule.
4420 Suite 201-C, Rosemar Road, Parkersburg, WV 26104
Robert L. Wright II - Broker