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.
The auction method has been around for a long time both as a way to sell personal and real property. If you have already decided that you do not want to try to do this job yourself, you should thoroughly research real estate and auction companies to make certain everything will be handled professionally and legally.
There are many differences between a private treaty sale and a public auction. If you opt for a private sale, you will be required to sign a listing agreement with the selected real estate agent. Most private treaty agreements will tie up your property for at least six months. The realty company will most likely advertise the land on several online sites at no expense to you.
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.
Auctioneers use aggressive marketing techniques in order to reach the most potential bidders. They typically incorporate internet, signs, mass mailings, and sometimes television and radio in their efforts to get the word out. Many auction companies have the capability to offer online bidding to the public. They may recommend this to you or discuss holding the sale on the property. Many times a combination of both strategies is employed very successfully.
Many auction houses add a buyer's premium, traditionally ten percent, to the high bids to obtain the final purchase price. The buyer's premium terms are always clearly defined in all advertising to make sure there is no confusion. At closing, the auctioneer will receive that ten percent as his commission. There will be no commission taken out of your proceeds unless otherwise agreed upon and stated in the listing agreement.
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.
If you live in Cando, ND or anywhere else and have acreage that you are interested in selling, the auction method is certainly something to consider. In a matter of weeks, rather than months, you should have money in your hand and be ready to move ahead.
The auction method has been around for a long time both as a way to sell personal and real property. If you have already decided that you do not want to try to do this job yourself, you should thoroughly research real estate and auction companies to make certain everything will be handled professionally and legally.
There are many differences between a private treaty sale and a public auction. If you opt for a private sale, you will be required to sign a listing agreement with the selected real estate agent. Most private treaty agreements will tie up your property for at least six months. The realty company will most likely advertise the land on several online sites at no expense to you.
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.
Auctioneers use aggressive marketing techniques in order to reach the most potential bidders. They typically incorporate internet, signs, mass mailings, and sometimes television and radio in their efforts to get the word out. Many auction companies have the capability to offer online bidding to the public. They may recommend this to you or discuss holding the sale on the property. Many times a combination of both strategies is employed very successfully.
Many auction houses add a buyer's premium, traditionally ten percent, to the high bids to obtain the final purchase price. The buyer's premium terms are always clearly defined in all advertising to make sure there is no confusion. At closing, the auctioneer will receive that ten percent as his commission. There will be no commission taken out of your proceeds unless otherwise agreed upon and stated in the listing agreement.
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.
If you live in Cando, ND or anywhere else and have acreage that you are interested in selling, the auction method is certainly something to consider. In a matter of weeks, rather than months, you should have money in your hand and be ready to move ahead.
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