There are many different ways to buy and sell real estate. Only one of them is by the auction method. Some people are comfortable working independently and attempting to sell their property themselves. Others will leave the work to a professional and list with a local Realtor. Still others, maybe a little more adventurous, will go the auction route. If you have property in the Dakotas, you might think about researching North Dakota land auctions as a viable way to sell.
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.
The differences between a traditional real estate sale and an auction are numerous. With both you will have to agree to a list your property with an agent for an agreed upon period of time. A real estate agency typically expects the agreement to be binding for at least six months. In that time, your Realtor will probably work through a multiple listing service and advertise your acreage online.
While real estate agencies will offer your property as one tract of land, an auctioneer often advises you to offer to sell large acreages divided into smaller tracts. This often yields a higher return for the seller. As the owner, you will be as involved as you want to be in the process of advertising and marketing your prime investment.
For a number of years, many auction companies have instituted an in-house online bidding platforms. Depending on the type of property you are selling, their recommendation may be that you offer the land online. They may also suggest a combination of auctioning online and on the property simultaneously. The logistics will be clearly outlined in all advertising.
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.
Another decision you, as the property owner, will have to make is whether or not to offer the real estate at absolute auction or with reserve. Absolute means that you will accept the high bid regardless of what it turns out to be. If you decide to sell with reserve, you will have the right to accept or reject any and all bids.
The auction method allows you to find out exactly what your property is worth to the buying public on a given day if you live in Cando, ND or anywhere else. There is no prolonged listing period, and you are not usually responsible for paying any commissions out of your proceeds. It is a quick and easy way to sell property for a fair price.
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.
The differences between a traditional real estate sale and an auction are numerous. With both you will have to agree to a list your property with an agent for an agreed upon period of time. A real estate agency typically expects the agreement to be binding for at least six months. In that time, your Realtor will probably work through a multiple listing service and advertise your acreage online.
While real estate agencies will offer your property as one tract of land, an auctioneer often advises you to offer to sell large acreages divided into smaller tracts. This often yields a higher return for the seller. As the owner, you will be as involved as you want to be in the process of advertising and marketing your prime investment.
For a number of years, many auction companies have instituted an in-house online bidding platforms. Depending on the type of property you are selling, their recommendation may be that you offer the land online. They may also suggest a combination of auctioning online and on the property simultaneously. The logistics will be clearly outlined in all advertising.
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.
Another decision you, as the property owner, will have to make is whether or not to offer the real estate at absolute auction or with reserve. Absolute means that you will accept the high bid regardless of what it turns out to be. If you decide to sell with reserve, you will have the right to accept or reject any and all bids.
The auction method allows you to find out exactly what your property is worth to the buying public on a given day if you live in Cando, ND or anywhere else. There is no prolonged listing period, and you are not usually responsible for paying any commissions out of your proceeds. It is a quick and easy way to sell property for a fair price.
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When you are looking for the facts about a North Dakota land auctions, pay a visit to our web pages online here today. Additional details are available at http://www.candorealestate.net now.
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