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California Premier Auctions, Inc.

The Real Estate Auction Company

For quick results sell your real estate at auction!

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"...What I needed was URGENCY---A reason for buyers to buy my house in as-is condition-NOW. And that is why I went with the auction format... BIG SUCCESS….My problem home was SOLD!!!"
-Mark F.

  » Auction Method

       

1.  We discuss in detail the different types of auctions available to our prospective clients.

     
2.  Once the auction type is selected, a marketing plan is outlined.
     
3.  A date and time is selected for the auction to take place.  Usually this is scheduled just 3-4 weeks after the contract is signed.  One or two open houses (previews) are normally planned prior to the auction.
     
4.  The contract is signed.  It emphasizes that we work exclusively for the seller.  All the details of the transaction are included.
     
5.  A transfer disclosure statement, termite inspection and a preliminary title report is completed.
     
6.  At the open houses the potential buyers are provided a bidder's package.  They can bring qualified contractor's to do any inspections they feel are necessary.  They can ask us any questions about the property and/or the bidding process.  We are there to serve and make every potential buyer comfortable.
     
7.  At the auction, the potential bidders must have a cashier's or certified check for usually a minimum of 5-10% of the estimated value of the property.  Without this, they cannot participate in the auction.  They receive a bidder's card with a number that is used when a bid is placed.
     
8.  The auction takes place by experienced auctioneers who are trained to encourage the potential buyers to competitively bid.
     
9.  The purchase contract is signed by the winning bidder and we open escrow.
     
10.  Escrow closes in 30 days or less.  If it doesn't close, the buyer's deposit is forfeited.
 

The auction process will reduce your costs in three ways.  Firstly, the holding cost of the property is greatly reduced.  The auction will terminate expenditures such as interest, taxes and maintenance.  Secondly, there is the cost of lost opportunities.  For example, if you want to move to another home, but you must sell your current residence first, you can miss the opportunity due to the fact the seller of the home you want, won't wait for your property to sell.  With an auction, you are virtually guaranteed your home will sell within 30 days so you can avoid making double payments and close on the "new" property.  Thirdly, is the cost of not being able to move on with your life.  If a listed property or property that is offered for sale by owner remains on the market without selling, it becomes "stale".  Not only do you have to put up with numerous showings, but also the day to day headache of having an unsold property.  Your life is put on hold until your property sells.  With an auction, you can quickly move on with your life, knowing that your property will sell within 30 days.

Comparison of Our Auction Method VS the Traditional Method

Our Auction Method       Traditional Method
1. Focus is only on your property   1. Your property is one of many being advertised
 
2. Auctions create urgency and provide a catalyst to promote buyer interest   2. With a listed property price reduction is typically needed to create buyer interest
 
3. Realizes the property's true market value with no limit on upside potential   3. Upside potential is limited by asking price
 
4. Property sold without contingencies   4. Contingencies are common
 
5. A guaranteed sale date can be given   5. No guarantee whether a property will sell
 
6. Closings typically take place as scheduled
(usually less than 30 days) due to a large non-refundable deposit
  6. Many properties don't close or closing is delayed because the earnest money deposit is too low and easily refundable
 
7. Property sold "as is"   7. Property usually is scrutinized by appraisers, pest control firms, and home inspection companies

Because the price a property brings with our auction method is determined by competitive bidding, we feel you should be confident you will get the highest price possible for a cash closing in 30-45 days without any contingencies.

Our accelerated marketing campaign focuses the attention of true buyers on your property. By having an auction on a specific date, it forces the potential buyers to make a decision to purchase or lose the opportunity to own your property.

The traditional method, in contrast, has no time limit and if the property doesn’t sell, the solution is to lower the price with the hope of generating interest and maybe a sale in the future.