Residential real estate can and often does sell at public auction with positive results for both the sellers and buyers. The public auction process allows sellers to definitively determine a timeline for selling residential property. The uncertainty and often lengthy process of finding a qualified buyer for residential real estate can be a daunting task with unknowns that can disrupt future seller opportunities such as moving to a new community for a job transfer, delay retirement plans, prolong expenses of taxation and maintenance, create capital loss as a result of vacancy over extended time periods and provide a challenging scenario of the home suffering market value loss due to being market worn by over exposure.
The buyer of residential real estate often experiences the significant benefit of buying a home at public auction whereby the stress of price and haggling is avoided and the terms of the transaction are known factors early in the process. Buyers of residential property need to have confidence that the selling price is truly a market driven dollar amount and they typically enjoy the validation of their top winning bid by having witnessed other bidders at the public auction compete openly and fairly under identical terms for the subject real estate.
Residential real estate sales are not only driven by the dollars the buyer spends and the dollars that the seller gains, but are influenced significantly by the inherent emotions surrounding the sale or purchase of a home. The excitement of the individual’s desire to sell and move on with their plans when matched with the excitement of buying a new home are combined perfectly in a public auction. The needs of both parties are met and each on their own terms.
When emotion is involved, public auction achieves many benefits to sellers and buyers. Talk with us to learn more about how the sale of your residential property may be best served by considering public auction as your best first option. Everyone wins!