5 Reasons to Sell your Home at Auction
Want to sell your home the fast and easy way? Do you want multiple offers from several interested buyers? Then, let us sell it at auction! An auction with Cope and Associates will bring you the full market value for your property.
The Honest Way
Many real estate firms will advertise a guaranteed offer on your home with no showings and no open houses. What they don’t tell you is that their guaranteed offer is lower than market value. This ensures that they profit the difference. Cope and Associates sees this in today’s market and knows that there’s a better way: an auction. Our role as an auction firm is to get you the most value for your property, not to take advantage of an already stressful situation. Whether you have land, residential, or commercial property, Cope and Associates will ensure that our auctions are conducted professionally and honestly.
Multiple Offers
With our proven advertising plan, we will reach dozens of potential buyers across the state. Upon the day of sale, these buyers will come ready to bid! Be prepared for multiple offers on your home from investors or buyers who see the potential of your property. Often in traditional real estate transactions, very few offers are brought to the table and the seller might be forced to settle with a low offer after weeks on the market. However, an auction guarantees that you choose the day your home is sold and receive several offers all at once.
True Market Value
An auction is the best way to bring true market value for your property. Research and market analysis can tell you an estimate of your home’s value, but it still needs to be tested on the open market. Listing it on the MLS can often take weeks and several factors might impede upon your property’s ability to sell on your timeline. With an auction, you’ll have the market right at your doorstep, willing to offer you what they are willing to pay. Ultimately, they will decide how much your home is worth and it can often be more than what a traditional listing would bring due to the competitive nature of an auction.
Competitive Environment
Picture this: your home is for sale at auction with dozens of motivated buyers. Buyer 1 has the winning bid at $500,000 while Buyer 2 raises his paddle for 501,000. While Buyer 1 was willing to bid up to $500,000 but thinks, “What’s another $1,000 when it comes to your dream home?” Buyer 1 then bids $501,000. Buyer 2 then bids $502,000. This continues until Buyer 1 wins the bid at $510,000.
When all is said and done, the market might have brought around $500,000 for the home. However, several people gathered together to bid on a property can create a bidding war where, ultimately, the seller wins. We’ve seen this happen countless times at our auctions. Creating a competitive environment is ideal in helping you receive the full value for your home.
Sell your Personal Property Too!
One key benefit of our auctions is the ability to sell your personal property. We specialize in the settling of estates. If you are under this stressful situation, let us help you sell the personal property left behind by loved ones. Whether it is tools, antiques, furniture, guns, or vehicles, we can help you liquidate these items.
Terms:
We don’t employ a buyer’s premium in our auctions, so buyers pay what they bid. For Real Estate, a 15% non-refundable deposit is required sale day with proof of funds (bank letter). Balance due at closing within 30 days. Earnest money is subject to forfeiture if the purchaser does not close in 30 days. For personal property, items are to be paid in full by cash, check, or credit/debit card on the day of sale. A finance charge of 5% will be applied to each transaction where payment is made with credit/debit cards.
Most of our auctions are pending owner confirmation. Additionally, you are not under any obligation to sell if the auction does not bring the value you are wanting.
Contact Us
If you are interested in attending one of our upcoming auctions, or if you’re a seller or real estate agent who’d like to learn more about whether or not an auction could be the best option, please call our office at: 615.384.7500