Can I really sell my house at auction?

You certainly can! 

I know what your first question is and the answer is YES. You can set the minimum acceptable price! I'll even provide you with a market analysis and assistance in determining market value.

REAL ESTATE AUCTIONS: THE BASICS AND BENEFITS

Q. What is a Real Estate Auction?
A. A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estate marketing process that involves the public sale of any property -- most certainly including those that are nondistressed -- through open cry and competitive bidding.

Q. How will an auction benefit me?
A. The real estate auction is a win-win proposition for everyone involved.

BENEFITS TO THE SELLER:
* Buyers come approved and prepared to buy
* Quick disposal reduces long-term continuing costs, including taxes & maintenance
* Assurance that property will be sold at true fair market value
* Exposes the property to a larger number of pre-qualified prospects
* Accelerates the sale without a loss in selling price
* Creates competition among buyers, auction price can exceed the price of a negotiated sale
* Potential buyers have to be prequalified for financing.
* The seller knows exactly when the property will sell.
* Eliminates interruptions with showings.
* Ensures a nationwide aggressive marketing program that increases interest and visibility of the property. 

BENEFITS TO THE BUYER:
* Smart investments are made as properties are purchased at fair market value through competitive bidding
* The buyer knows the seller is committed to sell
* Auctions eliminate long negotations.
* Auctions reduce time to purchase property.
* Purchasing and closing dates are known.
* Buyers know they are competing fairly and on the same terms as all other buyers.
* Buyers receive comprehensive information on property via a due diligence packet. 

Auctions Are Often Thought of as "Fire Sales" For Properties in Distress. Is this True?

  Until recently, real estate auctions, unlike art and antique auctions, have experienced unfounded negative images in the marketplace. The majority of auctions today don't result from foreclosure or distress situations, but rather are the result of a seller choosing a cost-effective, accelerated method to sell a property. Builders or financial institutions, for example, prefer auction rather than laboring for months or years to sell units of a development one by one. Auction allows the seller to eliminate virtually all long-term carrying costs, passing the savings directly to the purchaser in the form of a reduced price. Auction is truly a win-win situation: sellers obtain immediate cash and buyers purchase properties at fair market value, the price determined by open, competitive bidding.

Contact me to find out more!

realtorgarysmith@ec.rr.com

OFFICE (252) 247-7325

CELL (252) 342-7325

NCAL 8138