Auction Solutions International

Benefit for Ft. Wayne Area Youth For Christ

gwardwell_admin — Sun, 14 Mar 2010 22:50:05 +0000

Auction Date: April 30, 2010
Beneficiary: Ft. Wayne Area Youth For Christ
Auction located at: Sweetwater Sound

Benefit for Friends of the Roanoke Library

gwardwell_admin — Sun, 14 Mar 2010 22:47:54 +0000

Auction Date: April 24, 2010
Beneficiary: Friends of the Roanoke Library
Auction located at: Roanoke, Indiana

Benefit for Charis House

gwardwell_admin — Sun, 14 Mar 2010 22:45:37 +0000

Auction Date: March 20, 2010
Beneficiary: Charis House
Auction located at: Grand Wayne Center

Do you partner with Realtors?

gwardwell_admin — Wed, 02 Dec 2009 02:23:45 +0000

Yes. We have valuable relationships with many real estate companies. We work with realtors on both the buying and selling side of transactions. When working with us realtor partners are compensated at the same level as they would experience in a traditionally listed property.

What if my property doesn’t sell on auction day?

gwardwell_admin — Wed, 02 Dec 2009 02:23:23 +0000

If the property does not sell on auction day, there are still options available. The auction marketing process draws all interested parties out of the market. Many properties that do not sell on auction day are sold shortly thereafter to an interested party identified through the auction process. If the property doesn’t sell on auction day we already have a list of qualified buyers and we will work diligently with the seller and the interested parties to execute a private sale as soon after the auction as possible.

How expensive is it to have an auction?

gwardwell_admin — Wed, 02 Dec 2009 02:23:02 +0000

Marketing costs for a real estate auction are typically 1-3% of the estimated sale price of the property. These marketing costs are paid by the seller, but we do have ways of helping to minimize these costs and are even able to help recover some of these costs through a successful sale.

Can I establish a minimum price that I will accept for the property?

gwardwell_admin — Wed, 02 Dec 2009 02:22:42 +0000

Yes, this minimum price is known as the reserve price. This price is known only by the auctioneer and seller.

What is a typical timeline for an auction?

gwardwell_admin — Wed, 02 Dec 2009 02:22:13 +0000

Ideally the auction should be held approximately six to eight weeks after the signing of the auction contract. This will ensure appropriate time for the marketing plan to be established and effectively executed. Some properties may take longer depending on the scope of the marketing to be performed. Properties to be advertised on a national level will require a longer marketing period. Please feel free to call us at any time if you have questions about the marketing of a specific property.

What are the benefits of selling my real estate at auction?

gwardwell_admin — Wed, 02 Dec 2009 02:21:36 +0000

Reduced marketing period
Definite sale date
The sale is without contingencies
Auctions freeze the market
Brings all interested parties forward
The seller sets the terms and conditions
Competitive bidding may result in higher than anticipated sale price
Reduces carrying costs

Who is qualified to bid?

gwardwell_admin — Wed, 02 Dec 2009 02:19:33 +0000

Bidders must be registered with the auction company prior to the start of the sale. Typically qualified buyers must be at least 18 years old, possess a valid driver’s license, a proof of funds letter from their lender and be able to make the appropriate down payment at the conclusion of the auction.