Auctions will work for you if...
Auctions not only work for traditional sellers who want to liquidate their properties quickly and efficiently for the HIGHEST price the market will bear, but also for the following groups...
Real Estate Investor Property
Investors need to sell their properties quickly for fair market prices so they can move on to the next deal in order to maximize their profits. We've designed a unique property selling system that caters to investors, rehabbers and wholesalers. Let us sell your properties so you can spend your time negotiating, making offers and closing on killer deals! We offer 12 profit-making benefits so you can do more deals and make more money with less hassale...
Lender Owned Property (REO's)
Property that is not sold at the foreclosure auction reverts to the lender. The main reason properties are not sold at the foreclosure auction is that investors dominate this arena and these properties are not marketed to the general public. Investors are usually only willing to pay 60-80% of true market value. In California, all cash is required if you're the highest bidder, which makes it difficult for most people to buy. Also, these properties usually cannot be inspected.
Using a well advertised public auction by our company, on the other hand, that invites the whole market to see the REO property, creates buyer competition and urgency. It allows owner occupant home buyers the chance to purchase REO single family houses that have been taken back via foreclosure. Because we also encourage Realtor's to bring their qualified clients to the auction, the REO property is on everybody's mind.
Typically, many banks and loan companies try to work out forbearance agreements with their delinquent borrowers. Many times this only delays the inevitable foreclosure event. Once the property reverts to the lender, a Realtor many times is given an exclusive listing, which can reduce the price the lender will receive, as well as the time it takes to close versus using our auction method.
Selling property quickly and efficiently by intensive marketing of our auctions will bring highly qualified buyers to the fore front, who will close and provide the highest price in the shortest amount of time. The auction method of marketing converts illiquid real estate to cash with a sale at the date and time you decide. This also reduces concerns with vandalism, insurance cancellation, and liability.
Builder / Developer Property
Builders always seem to have excess inventory after developing a new area. Often times builders have difficulties launching a new project to the public and selling the last remaining properties of a new development.
Auctions will create the necessary interest to not only get the project off the ground but to also sell the remaining "stale" inventory. The main objective that builders need to accomplish is to quickly sell their inventory and move on to the next project. Using a well advertised public auction enables builders to sell a large portion of their inventory in one day!
In a slower market auctions can help builders stand out from the rest of the "pack" by showing the public that they're extremely motivated to sell. Why offer to pay for closing costs, give out gifts or kickbacks when all you need to do is utilize the auction method of marketing? Builders can choose the date they want to sell their inventory eliminating extended holding periods and reducing vandalism and insurance concerns. Auctions bring ultra-qualified buyers that will close quickly with no contingencies to the forefront.
Inherited Property / Property Donated to Charity
Property that is inherited or donated to charity in many cases has more value if it's converted to cash. These properties can have deferred maintenance or require extensive costly repairs. The heirs or charity many times doesn't want the hassle or have the time and money it takes to do the necessary fix up.
The auction method works great with these types of properties because an asset with value is quickly liquidated and turned into cash, without needing to fix it up. We extensively market to investors as well as folks who want to live in the home as their personal residence, but don't mind the process of fixing up the property.
The process from start to closing takes 60 days or less. With this method you are virtually guaranteed a sale. There are no contingencies and all properties are sold "as is" which makes it more feasible many times than an extended listing.