Real Estate Auction – Seller FAQs
Billions of dollars’ worth of Real Estate are sold every year at auction including single family dwellings, agricultural, commercial and industrial, recreational properties, condominiums, apartments, and raw land to name a few.
Auctions create excitement and action which lead to an increased price obtained for your property in the shortest amount of time possible. As a seller you will benefit the greatest by making an auction your first choice. Many people are afraid of the old, outdated perception of auctions being the last resort. But the fact is auctions are widely accepted as the first choice for many savvy sellers who understand the benefits of auction marketing. A smart seller chooses the cost effective, accelerated method of an auction to quickly speed up the sale of his or her property.
From the date of your first meeting with us, we can generally hold your auction within 30-45 days. In some cases, we have held very successful auctions in as short as three weeks.
The seller sets the terms for settlement; however, we recommend 30-45 days. As long as the buyer and seller agree, some properties settle in as short as 1 week.
We will provide one of our trained experienced employees to show your property. We avoid constant interruptions by holding scheduled one-hour showings at your convenience prior to the auction.
Simply contact our office to arrange for a free no obligation consultation. Larry or one of our highly trained and experienced staff will visit with you at your property and explain the entire process. You can reach us at 620.326.7315 or email us at [email protected]
We do not recommend this approach. When a property has been marketed prior to an auction, the property is then “labeled” with a price. However, when a property is marketed at auction the minimum acceptable price is determined between the seller and Theurer Auction/Realty and is not disclosed. Then all efforts are set forth to sell the property for the maximum amount exceeding the minimum acceptable price.
We often find that price is not the issue in determining why a property has not sold. Many times the reason that a property has not sold is that there has not been adequate traffic to view the property, and therefore, not enough interest has been generated in order to sell the property. The auction process is the best way to create interest and instill the excitement that will result in a positive sale. Our auctions are positive, enthusiastic events designed to generate competitive bidding to secure the highest possible market price for your property.
We hold residential auctions on site. By being on site, bidders are constantly reminded of the positives associated with that particular property, which in turn, can encourage a higher bid. For land auctions, we hold the auction at a public or private meeting facility. It is easier to see and capture bids in an enclosed environment.
Absolutely! To realize maximum value your property should be in the best condition possible. We can arrange general premises clean up, yard work, brush hogging, painting and repairs with local contractors. You can literally send us the keys and let us take care of all the details from start to finish.