How long will it take to sell my property? Not Long... After selecting to join our next portfolio or even having your own stand alone campaign, the time factor of promotion is about 35 +/- days and the closing is 30 days later. Some sellers will get offers before their auction and those offers are under the terms of the auction transaction with larger non refundable down payments, no seller closing costs and …OF COURSE, a non-contingency transaction.
Do I have to accept the highest bid? The answer is no if you choose the type of auction that is called a non-absolute auction. Sellers also learn about minimum bid auctions and absolute auctions in our NO OBLIGATION interview.
What happens if my property is still available for sale after the auction? Most potential sellers that quickly become a student of the BidFirst-ListLast strategy understand that if the purchase transaction does not conclude “at the microphone” (the auction), then the auction could have been a tremendous “tree-shaker” that could quickly accelerate a transaction post auction. Having your market assemble to compete at the auction can lead to post auction competition. Remember the registered bidders were ready, willing and able to close on your real estate and had handpicked your property for their decision to purchase.. That one fact is SOOOO important.
What are the promotion costs of the auction? Very reasonable. In fact, you select your level of commitment to your budget after learning how we will use our experience on your behalf. We will work with your budget. Some sellers may desire more or less promotion than others. If you bring another seller with you to our interview or refer them to us and you both come on board at the same time and there can even be more savings.. In fact, your friend can introduce a friend to us as well. It just gets better... and... better... and... better.
Can my Realtor or agent participate? YES, The process is very agent friendly and we will visit with them before your meeting so they understand the campaign. You do not have to have an agent to come on board, but we will explain the process to them so they too are an ally to the cause. They typically like knowing when the transaction concludes and all are paid.
I understand you will use a “buyer’s premium”? What’s that? It is a term of sale that is an add on, much like the terms of sale that included the 100% purchaser paid closing and survey costs. Bidders come to an auction to buy and they understand to get a shot at good real estate like yours, the buyer’s premium helped you with the costs. Buyer’s premiums have been around for decades and bidders understand how to factor this into the bidding. When you request a proposal, we have mathematical examples that show how your bottom line can be affected in a positive way from using a buyer’s premium.
How long have you been in business? We have been conducting auctions since 1982 and have been based in Birmingham since 1987. Many references can be found at www.gtauctions.com
Granger, Thagard & Associates, Inc. 205-326-0833 | 1806 Oxmoor Rd | Birmingham, AL 35209
