AUCTIONS
Work Best When There's:

  • A changing market
  • A dull market;  too much product but buyer interest is expressed
  • Not enough of the property type (unique, lake front, etc.)
  • An emerging market - new developments could kick off a sales program, once some of the properties were auctioned
  • A seller's market where there is known high demand and a lot of competition can take place
 
Seller - A good auction situation is one where the seller:
  • Needs immediate cash
  • Has a partnership or marriage break-up
  • Is moving out of the state
  • Wants to liquidate an estate
  • Is retiring
  • Is an auction-minded seller
  • Has a listing that is about to expire
  • Has already purchased another house
  • Knows the auction will bring fair market price
  • Han financial problems
  • Has high carrying costs on the property
 

Property - A good auction property is one that:

  • Has a lot of equity (25% or more)
  • Is unique - there is enough buyer / market interest to encourage competition (unique properties are difficult to appraise)
  • Has a lot of high carrying costs for the owner
  • Is vacant - vacant properties may encourage vandalism
  • Is difficult to appraise

 

 

Best Bid Auctions   6316 Highway 329, Crestwood KY  40014     502-222-5212     800-249-6957     Email
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