ON LOCATION & ONLINE
There are two basic types of public auction – On Location Auction and Online Auction.
Each possess good value for both buyer and seller and have distinct benefits.
ON LOCATION BENEFITS
Streamline the process – Fully licensed –
Auction any property any time –
Sell FAST, 30 days or less – Exciting to watch
By compressing the sales period, an auction facilitates an extremely aggressive marketing strategy, which provides maximum visibility for the property. In addition, our marketing team can tailor a campaign that effectively reaches the identified target market.
Sell In Approximately 90 Days or Less!
The more expensive or unique a property is, the longer it typically takes to sell using ordinary methods. This is due to an often limited market for these properties. Having a specified date on which you intend to sell, creates a sense of urgency with potential buyers, and helps to speed up the entire sales process.
Targeting Qualified Buyers
Most of the time, an auction finds success because the company you have chosen understand the best means to reach a targeted audience. Marketing your property to those incapable of making the decision to purchase or lacking the ability to purchase, is a genuine waste of time and money. At the same time, your auction cannot be kept a secret, advertising is essential to produce results. Each auction marketing campaign is carefully planned and thought out to insure all possible prospects become aware of your property and the opportunity afforded by the auction scheduled.
Selling on Your Time
In most traditional listing agreements, there is no time frame stated for the sale of your property. It could take as little as one day or as long as the listing lasts. At auction, you set the date and time the property will be sold. Auction advertising and promotion is designed to attract the attention of qualified bidders who must act quickly as there is an established date and time for the event. This sends a powerful message — you are motivated and committed to selling.
Rapid results with one click – Streamlined & Easy
to operate – Achieve 16% lift with high bids –
Exclusive property previews
Fair Market Price
Many unique properties have few “comparables” upon which to base a true appraisal. As a result, the seller runs the risk of asking too much or too little. An auction eliminates pricing problems, establishing the real market price that day for the property.
Reach The Broadest Possible Universe of Qualified Bidders
Dothan’s experienced marketing staff knows how to put together the right combination of advertising (local, regional, national and international), direct mail (using our proprietary database of extensive prospective buyers), public relations and direct sales efforts to bring the subject property to the attention of qualified prospects wherever they may be.
Negotiations Between Sellers and Buyers Defined
At an auction, all negotiations between sellers and bidders are carried out while the auctioneer is at the podium. Offers to purchase are made under predetermined conditions which the bidders have agreed to comply with. This eliminates the need for complicated negotiations, offers, counter offers, and confusion. Through the process of competitive bidding, final prices are established.
Predetermined Terms and Conditions of Sale
At an auction, the terms of sale are determined in advance of the event. In most cases, your property will be offered in “As-Is” condition requiring interested parties to conclude any inspections they deem necessary before the first bid is made. Upon conclusion of the auction, the top bidder will bee required to execute a simple contract of sale requiring a non-refundable deposit of usually 20% of the purchase price. In most cases, the contract will require closing 30 to 45 days following the auction. While many purchasers obtain financing on properties purchased at auctions, the contract is not contingent upon the ability to obtain financing. Many purchasing at auctions are pre-qualified by mortgage lenders or have the ability to close without financing. This allows you to leave the auction knowing your property has sold.