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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.

  » Los Angeles Auction

Hyde This 6-unit apartment building, located in a rent-control district of Los Angeles was sold using the auction method of marketing. The seller was a real estate Broker with the State of California. He contacted us to sell his property because he liked the fact that we could guarantee him a sale date and bring him the best price the market would bear. On the day of the auction there were 25 registered bidders who all brought $50,000 non-refundable cashier’s checks to bid. When the hammer came down at $797,500 the seller was ecstatic. After about a week, the winning bidder contacted us and expressed that the highest appraisal he could get was $500,000 because of the rent-control issue. He also said that he did not think he could close escrow on the property because of the low appraisal. We told him that he would then have to forfeit his $50,000 non-refundable deposit if he did not close. Needless to say, he ended up closing the property and the seller was paid $297,500 above appraised value. This is just one of many success stories the auction method of marketing real estate has produced and there are many more. When you are dealing with large non-refundable deposits and a method that creates urgency and competition among buyers… the possibilities are fantastic!