Why Auction?

'Going once…Going twice…SOLD!…to the lady in red!'

You have an option of auctioning your real estate or listing it.

  • With an auction, there is no limit set on the price. This works best if the property hasn't been listed traditionally because there's no list price that has been previously set.
  • With an auction, you dictate the terms, conditions, date and time of sale, time limit for date of closing, and you sell with no contingencies. That means the sale is not subject to the results of an appraisal, loan approval, home inspections, pest inspection, mold inspection, structural inspections or any other contingencies that can stop a traditional sale.
  • You, as the seller, are only guaranteeing a clear title.
  • You set the amount of non-refundable downpayment that the high bidder will post at the conclusion of the auction.
  • An auction cuts through all the obstacles that can occur in a traditional closing. You sell it to the high bidder. The high bidder closes within the time limit set by you, or the bidder forfeits their down-payment.

In estate situations, many times, the heirs are saddled with a house, garage, attic and basement full of personal belongings of the deceased. In those instances, the auction can include the personal property, the car, the boat, the RV, etc.

We can do the sorting, clean-up, set-up, labor, supplies, tent, staffing, advertising, registration, clerking, check-out and final accounting for each item sold. We offer credit cards so the buyers have the opportunity to purchase more items than they came prepared to purchase. We remit the proceeds of the sale within 7 days of the auction for the personal property. We leave the property broom-clean and attend the closing of the real estate.

Set up an appointment and we would be glad to advise you if auction is a good option for you.

If you've been to an auction, you know how these words 'SOLD' will impact the crowd.

With auction there is no second chance. The excitement of a live auction is unmatched by any other method of sale. The professional auctioneer creates a competitive buying situation that cannot be duplicated by any other sales method.

Through intense market exposure auctions create a unique seller's market. The auctioneer sets the bidding increments, tone, and pace by controlling nearly every aspect of the auction.

Only at auction, can an auctioneer in conjunction with the seller:

  • Set the time, date, and format of the sale.
  • Set the buyer's terms to the seller's specific conditions.
  • Expose goods and property to the greatest number of potential buyers.
  • Guarantee the sale is at True Market Value-not just at some guessed-at or driven-down, invented figure which may be established by a less than favorable economy.

Only at auction can the auctioneer:

  • Exercise showmanship; to excite or encourage buyers to bid now, or lose their chance to make a purchase.
  • Capitalize on crowd excitement and sell items for prices greater than Market Value, by setting a price and bidding pace instead of settling for a salable price.

With Auction the seller will:

  • Cut down on holding costs and closing times
  • Ensure fast cash returns on sold assets

And only at auctions will you hear: 'SOLD! To the highest bidder.'

The auction method of marketing is by far the most profitable way of converting goods, personal property and real property into cash.

Typically with a conventional sale the asking price is established and the final sells price is negotiated. This negotiated sells price will typically be reduced far from the initial asking price.

Only at auction is a selling price negotiated HIGHER rather than being reduced.

Whether you've been to a live auction or not, we know you'll be pleased with the results of our auction services. Contact us today by e-mail at auctions@mcginnisauctions.com or phone (812) 282-7253 or (502) 458-4815. Or, call Fran Evola at 502-445-3040, President of John McGinnis Auctioneers, Inc. and Real Estate Unlimited, P.C.

 

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