Seller Information

Why Auction?

Different owners sell for different reasons, but one point remains constant: Today’s shrewd investors are very conscious about the time value of money and want quick results. They know that a market can change very quickly, and holding properties for sale can erode equity rapidly as values begin to decline. Holding cost for the property can become a primary motivation for some, however others plan their marketing to provide the fastest form of sale for a project.

Auction marketing works well in both weak and strong markets. Attorneys, trustees and individuals with other types of fiduciary responsibility recognize the value of the auction method of marketing assets for both speed of sale and the fact that the legal system favors open, public bidding.

In today’s economic climate, financial institutions are becoming more sensitive to properties classified as other real estate owned (OREO) on their books. Consequently, they have become more aggressive in their marketing of such properties, usually through the auction method.

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Many of America’s largest corporations also seek to reallocate real property assets through the auction method.

The reallocation of such assets becomes essential to the success of merger and acquisition activities as well as overall corporate restructuring dictated by market-driven changes in strategic plans. Institutional investors in real estate frequently keep a mix of properties in their portfolios. When the decision is made to divest of specific properties or a forecasted change in market conditions necessitates a reevaluation of assets held, many turn to auction marketing firms for assistance.

The U.S. Government is the single largest user of real estate auction services.

Government agencies have sold real estate at auction for decades. The Veterans Administration, the Federal Housing Administration, Farmers Home Administration, Resolution Trust Corporation, FDIC, U.S. Marshal’s Service and others have used private sector auction marketing firms most successfully to reduce inventories of properties that they control.  Recent troubles in financial institutions have provided impetus to extend the use of the auction method.

Many individual owners of farms, homes, and small businesses use the auction method routinely for many different reasons.  Tell us your reason for having an auction.

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