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Why Sell at Auction?

Property is sold in “As Is” condition for Cash at True Market Value, includes minimal seller involvement and no contract contingencies. The final bid price is set by the market and a properly promoted auction will provide competition to insure Top Dollar Results.

Auction Advantages

Competitive Marketplace

Provides true market value by competitive bidding. The auction method of marketing creates a form of competition that cannot be duplicated by private treaty. Each bid reinforces the market value of the property. This affirmation of value encourages other participants to continue bidding. Within all of us is a tremendous need to win. In a traditional real estate sale the buyer satisfies this need by negotiating the seller down. In an auction the buyer can only win if he outbids all other bidders.

Time Efficient Sales Mechanism

Sale is consummated on a specific date.

Auction brings all interested parties into one place at the same time for a single purpose, to determine who will pay the most for the property. All interested parties are forced to make a “decision”. Getting an interested person to act is the most difficult thing for a private treaty broker to do.

Maximum Exposure of Property

Auctions can put more people across your door in two weeks than you could see throughout an entire listing period. By using local multiple listing systems and direct mail BUYER AGENTS will be informed, encouraged and compensated for their participation, therefore insuring all potential buyers can become involved in the auction process. A new market of prospective buyers becomes aware that the property is available and listing time is limited to the date of the auction.

Property sold “As Is”, no Contingencies

An attractive feature to Sellers is that auction contracts have no contingencies and closing dates are normally thirty to forty-five days following the auction. The property is sold in “As Is” condition with the buyer having full responsibility for any inspections. Financing conditions are very rarely part of a real estate auction, potential bidders must register before bidding and are screened by Auctioneer’s staff for their ability to meet contract requirements.

Biederman Real Estate Brokers and Auctioneers
Tom Biederman, Broker/Auctioneer
1076 Wellington Way., Lexington, KY 40513
(859) 277-2030

Auction Success

Biederman Real Estate and Auctioneers can convert high pressure financial problems into productive seamless financial solutions.

Sales Experience; Product Knowledge and Valuation

Biederman Real Estate and Auctioneers Personnel are highly respected individuals in the real estate field with years of cumulative experience and success. Upon the first meeting with prospective clients, the expertise of our people is fully evident. During initial consultations overall objectives are discussed to immediately determine if an auction is the right approach to marketing and selling a property. From determining who makes the property’s best buyer, how to effectively inform the marketplace of the property’s merits to explaining the benefits of an accelerated marketing program and the intricacies of the auction process, the expertise and professionalism of our representatives assures potential clients that Biederman Real Estate has earned it’s status as a leader in the real estate auction industry.

High Visibility Promotions

Marketing promotions are uniquely designed to create maximum impact in the marketplace for a given property. Custom marketing programs are tailor-made to leverage the most effective combination of public relations campaigns, telemarketing, direct solicitations, internet access and utilizing the local multiple board of realtors services. For very property offered at auction a Bidder’s information packet is assembled to provide detailed information insuring a Buyer’s confidence.

Auctioneer’s Duties

  • Inspect Property to Evaluate Sales Potential at Auction
  • Provide Employment Agreement Outlining Commissions and Costs
  • Prepare Marketing Plan with Cost Estimates
  • Prepare and Place Advertising; Print Media, Direct Mail, Internet, Local Board of Realtors Multiple Listing Service
  • Provide Broker cooperation
  • Provide Periodic client Updates
  • Conduct Auction
  • Execute Buyer Contract and Collect Earnest Money Deposit
  • Provide Statement of Accounting
  • Provide continuous and personal support up to and through property closing and deed transfer.
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