In Part one of this blog post we discussed several advantages of real property auctions Arizona.
Real Property Auctions Arizona Create Buyer Competition
- The auction process encourages multiple buyers to compete to purchase your property
- Competition generates excitement and motivates buyers
- Competitive bidding often draws prices higher than the seller’s expectations
Real Property Auctions Arizona Provide Good Buyer Candidates
- High demand, broad interest properties where competition between buyers would increase price
- Property a seller desires to convert to cash quickly
- Properties owned by seller who has purchased second property using a bridge loan or who has signed a contract for property “subject to the sale of existing property”
- Estate and surplus properties
- Inactive real estate listing needing a fresh marketing approach
BENEFITS TO THE REAL PROPERTY AUCTION ARIZONA SELLER:
- Buyers come prepared to buy
- Quick disposal reduces long-term carrying costs, including taxes & maintenance
- Assurance that property will be sold at true market value
- Exposes the property to a large number of pre-qualified prospects
- Accelerates the sale
- Creates competition among buyers – auction price can exceed the price of a negotiated sale
- Requires potential buyers to pre-qualify for financing
- The seller knows exactly when the property will sell
- Eliminates numerous and unscheduled showings
- Takes the seller out of the negotiation process
- Ensures an aggressive marketing program that increases interest and visibility
BENEFITS TO THE REAL PROPERTY AUCTION ARIZONA BUYER:
- Smart investments are made as properties are usually purchased at fair market value through competitive bidding
- The buyer knows the seller is committed to sell
- In multi-property auctions the buyer sees many offerings in the same place at the same time
- Buyers determine the purchase price
- Auctions eliminate long negotiation periods
- Auctions reduce time to purchase property
- Purchasing and closing dates are known
- Buyers know they are competing fairly and on the same terms as all other buyers
- Buyers receive comprehensive information on property via due diligence packet
For more information about real property auctions Arizona, contact Auction Systems.
