February 20th was a beautiful evening for a South Florida real estate auction. As the sun set over Palm City’s beloved Danforth neighborhood, folks gathered at the chance to snag the high-ticket home we had up for grabs.
Located at 1945 SW Oakwater Place, the 3,100 sq.ft. 3 bedroom, 2 bathroom dream home attracted everyone from families, couples, singles and real estate brokers. People weaved in and out of the rooms, always stopping to admire the not one, but two large walk-in closets. Each closet big enough to be a home itself. Other prize property amenities include:
- Palm City amenities: A+ schools, Publix, gourmet restaurants and parks in close distance
- Direct access to 1-95 & the Florida Turnpike
- Desirable Danforth Community
- Family neighborhood
- Private lakefront community
The Real Estate Auction Process
At 6pm sharp, everyone in attendance made their way to the lakeside living room to begin the auction. All Associate Auctions events begin the same way — with an intro. We’re a community-driven auction house, getting to know our crowd is just as important as making sure all involved in the transaction get a good deal.
Once the auction has officially begun, we set the terms & conditions of the auction. Each auction is a bit different as the terms are unique to what the seller decides, but remain fairly standard. An example of typical real estate auction terms & conditions may reflect the following:
- Selling to the highest bidder regardless of price
- Sells on an “as is” basis
- Cash or cashier’s check required to bid
- 10% deposit collected day of auction, balance at closing within 30 days of auction
- Possession with Deed
Regulars at our auctions know the drill, but for first-timers the Associate Auctions team is on-site during the auction to help you define terms and walk you through the auction process.
Auctioneer KC Daniel asked first-timers to identify themselves with a show of hands. There were a few at Feb 20th’s auction and just to be sure they had it down right, Daniel encouraged them to, “just go ahead and keep those hands raised all night.”
We like to have a good time at Associate Auctions but there’s one rule we do take very seriously: to get your bids in before the auctioneer says, “Sold!”
Now with the auction process established and the terms set, the auction officially was underway.
It started strong with a number of solid bids coming in hot from the get-go. The bidding price steadily increased with bidders raising their hands. About halfway through, the betting began to ease as it hit the inevitable slow up. Hands began to get a bit tentative as the price increased and it looked like things were coming to an end. Until a new player entered the game. Before you could say, “Sally sells seashells,” a second surge in bids were placed.
After a little more back the forth, the famous words were spoken, “Going once, going twice, sold!”
Sold to an enthusiastic family man, grinning from ear to ear with his new spoils, ready to move the kids in right then and there.
“Alright, now get out of my house!” he joked.
All that’s left is a little paperwork and it’s his – able to walk out that evening and lock the door to his new home.