Selling Your Property At Auction

From the seller’s perspective, an auction provides an expedited sales process, control over the terms and conditions of the sale, and highly intense promotion that isn’t generally associated with conventional retail sales methods. Because of its timeliness, an auction also creates immediate interest in a property from buyers who might otherwise sit back to see whether sellers will make further price reductions.

How The Auction Works:

• The Seller agrees to include their property in the Cape Mega Auction by filling out the Agreement to Sell Real Estate At Auction
• The only fee that the seller pays is an auction entry fee equal to 1/2% of the Seller's reserve price with a minimum entry fee of $1,500 and a maximum of $5,000.

Examples:

• Reserve price of $200,000 = Entry Fee of $1,500
• Reserve Price of $500,000 = Entry Fee of $2,500
• Reserve Price of $3,000,000 = Entry Fee of $5,000

This money will be used to offset the $100K plus that we anticipate spending in order to promote the properties in this auction. All other fees are paid by the buyer!

The reserve price is the rock bottom price that a seller would be willing to accept at the auction.

“A real estate auction is an innovative and effective method of selling real estate. It is an intense, accelerated real estate marketing process that involves the public sale of any property -- most certainly including those that are nondistressed -- through open cry, competitive bidding.” Source, National Association of Realtors

“Rising inventory and time on the market mean sellers have trouble attracting buyers even if they drop the price. Consequently, it can take months to figure out which combination of concessions will attract an offer. Some sellers can’t wait that long. Auctions identify the players and bring them to a point of action.” - California Real Estate Magazine

Benefits of Real Estate Auctions

BENEFITS TO THE SELLER:

• Seller Pays No Commission!
• 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

REQUEST A CONSULTATION | REGISTER TO SELL
VIEW AGREEMENT TO SELL REAL ESTATE AT AUCTION