Once you have made the decision to sell a portion or all of your property, the next step is deciding who will help you with the sale. A few will try to sell on their own and are sometimes successful. Most individuals, and companies as well, prefer to turn real estate sales over to the people who do that sort of thing for a living. At this point, you will probably be deciding whether to choose a Realtor or, if you are in the Dakotas for instance, opting for a North Dakota land auctions company.
Before you do anything, you should get as much information as possible about the companies you are considering employing. It is a lot easier these days. You can search the internet to get recommendations and find out just what the real estate agencies have sold in the past.
There are many differences between traditional private sales and public auction that you will want to consider. One of the biggest differences is the turnaround time. Realtors usually expect you to sign an exclusive listing agreement tying up your property for at least six month if they do not sell before then. An auction company typically needs sixty to ninety days to prepare your land and advertise before the sale occurs.
An auctioneer will probably recommend listing your land for sixty to ninety days. This should give them adequate time to prepare the acreage and advertise the auction. Large tracts are often divided into smaller lots. This generally brings a higher price for the seller. There will be a marketing budget put in place that you will have the opportunity to approve.
The auction company will work with you and explain exactly how the property will be advertised. There will probably be a plan involving various advertising venues such as signage, internet, brochure, newspaper ads, and radio and television spots. The real estate pros may recommend that you auction your land utilizing an online bidding system, or they may recommend an onsite auction only. They may also discuss using a two pronged approach with both online and onsite bidding.
It is not unusual for a ten percent buyer's premium to be added to the high bid price in order to obtain the selling price. This is a tool that is very familiar to seasoned auction goers and does not deter them from bidding. By utilizing this technique, you avoid paying any commissions from your proceeds. The buyer's premium goes to the auctioneers at closing to pay their fee. Of course everything is negotiable, and whatever you agree to and put in the listing agreement will be the binding terms of the sale.
An auction is either absolute or sold with a minimum, or reserve, price. If you decide to sell your land absolutely, you are guaranteeing that you will sell regardless of the high bid. If you choose to offer your acreage with reserve, then you have can either agree to sell or not.
Cando, ND residents, as others throughout the United States, buy and sell real estate all of the time. An easy way to divest yourself of property quickly and efficiently is by using the auction method.
Before you do anything, you should get as much information as possible about the companies you are considering employing. It is a lot easier these days. You can search the internet to get recommendations and find out just what the real estate agencies have sold in the past.
There are many differences between traditional private sales and public auction that you will want to consider. One of the biggest differences is the turnaround time. Realtors usually expect you to sign an exclusive listing agreement tying up your property for at least six month if they do not sell before then. An auction company typically needs sixty to ninety days to prepare your land and advertise before the sale occurs.
An auctioneer will probably recommend listing your land for sixty to ninety days. This should give them adequate time to prepare the acreage and advertise the auction. Large tracts are often divided into smaller lots. This generally brings a higher price for the seller. There will be a marketing budget put in place that you will have the opportunity to approve.
The auction company will work with you and explain exactly how the property will be advertised. There will probably be a plan involving various advertising venues such as signage, internet, brochure, newspaper ads, and radio and television spots. The real estate pros may recommend that you auction your land utilizing an online bidding system, or they may recommend an onsite auction only. They may also discuss using a two pronged approach with both online and onsite bidding.
It is not unusual for a ten percent buyer's premium to be added to the high bid price in order to obtain the selling price. This is a tool that is very familiar to seasoned auction goers and does not deter them from bidding. By utilizing this technique, you avoid paying any commissions from your proceeds. The buyer's premium goes to the auctioneers at closing to pay their fee. Of course everything is negotiable, and whatever you agree to and put in the listing agreement will be the binding terms of the sale.
An auction is either absolute or sold with a minimum, or reserve, price. If you decide to sell your land absolutely, you are guaranteeing that you will sell regardless of the high bid. If you choose to offer your acreage with reserve, then you have can either agree to sell or not.
Cando, ND residents, as others throughout the United States, buy and sell real estate all of the time. An easy way to divest yourself of property quickly and efficiently is by using the auction method.
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