Watson
Auction &
Realty,
L.L.C.
Licensed in AL (#1831), GA (#AUNR002950) & FL
(#AU3264)
"Have Gavel, Will
Travel!"
654 Lynn Jarvis Road ● Dothan, AL 36303
Office: 334-596-2312 ● Fax: 334-673-1456
FAQ'S
fAQ's?
What is an Auction?
An auction is a very rapid and effective way to market and sell property, both real and personal, in a public sale. It involves an intensive, targeted marketing plan designed to focus attention on your property, and providing qualified buyers competing for your property with no contingencies as opposed to your property competing with other properties in the traditional sales methods.
Why should I sell my Real Property, Personal property or Estate at auction?
- It is targeted to prospective qualified buyers.
- Buyers are motivated.
- Buyers compete for this property rather than this property competing with other properties with the buyers.
- Seller sets terms and conditions of sale and time of sale.
- The sale is with no contingencies, such as financial (buyers are qualified); or repairs; buyers can inspect the property and know its condition before bidding for the property.
Live Auctions vs. Estate Sales?
Estate Sales are at best feeble attempts to liquidate personal property.
At an Estate Sale, the Seller sets a price for an item thus establishing
the most they will take for it and usually taking much less in order to
dispose of the property. These events usually take multiple days
to liquidate the property and sellers usually take reduced prices for the
property in order to dispose of it. This generally makes the
"estate sale" the least viable option for liquidation.
At Auction, the Buyers determine the value of the item
and the property is liquidated in usually less than one day and at
premium prices. The Estate Sale is often "pushed" as a viable way
to liquidate estate property by those who do not have the ability to
effectively liquidate estates at auction. Estate sellers will use
statements such as, "Let us sell your 'valuable items and leave the 'low
end items' for the Auctioneers." It has been my experience that
the "low end" items bring more at Auction than the "valuable items" do
at an estate sale.
Licensed Auctioneers also do estate sales if and when
the situation dictates. You may not have enough merchandise for a
"stand alone" auction. In this case, an estate sale may be an
option. If time is not a pressing issue, you may also place your
property in with other estates to add to the "eye appeal" of the Auction
as a whole. A licensed professional is by far the best place to
get your advice on your particular situation.
We recommend you do your homework and use references to
determine which method is best. Ask the Auctioneer and the Estate Seller
for references. You will most often find the Auction Method of
Marketing to be the best avenue to dispose of estates.
Also, Real Estate can be disposed of by professional
Real Estate Auctioneers who have been trained to liquidate property.
Most Estate Sale Liquidators have no formal training, expertise and no
licensure is required for them. Would you rather use a trained,
bonded and licensed professional or a non-licensed "no training or
experience required" estate seller to liquidate your property?
Aren't all auctions "desperate", last resort efforts to sell property?
NO! More and more sellers are choosing the auction method of marketing to speed the sale, cut holding costs of taxes, insurance and mortgage payments thus freeing their money for other uses. Auctions bring fair market value for the property offered.
What Types of auctions are available for the sale of my property?
- Auctions with reserve or "subject to owner's confirmation" (The owner has the right to accept or reject any bids on the property being offered.
- Absolute Auctions. In this case, the property sells to the highest bidder regardless of the price.
- Sealed Bid Auctions. Sealed bids are placed in advance of a specified time by persons interested in the subject property. The bids are opened at the specified time. Sealed Bid Auctions may be "With Reserve" or "Absolute".
Why should I buy at a real estate auction?
- The seller is motivated to sell on sale day.
- Due diligence is provided ahead of time to prospective buyers; i.e.: zoning, restrictions, easements, etc., thus buyer knows what they are buying at the time of sale.
- Auctions are conducted in an open forum to assure fair and competitiveness in bidding thus assuring a fair market price.
- Buyer sets his price.
- Buyer knows what others would pay for the property.
Why should I consider the auction method of marketing as a selling tool?
- It is an alternate method of marketing to offer clients in disposing of property.
- Offers clients a method of rapid sale at "fair market value", thus reducing holding costs on property.
- Earn more commissions from referrals on difficult to sell properties.
- Earn commissions by bringing a successful high bidder to the sale.
- By cooperating with the auctioneer, generate leads of qualified buyers who attended the auction but were not the successful high bidder.
Col.
Joe
F.
Watson,
AL
#1831
AUCTIONEER &
REAL
ESTATE
BROKER
Copyright © 2007 Watson Auction Services LLC - All Rights reserved