Auctions are noted for being a high paced, fun and exciting process that ultimately entices bidders with the hopes of saving money and getting a “DEAL.” Auctions can be very advantageous to buyers as it is a straight to the point, get to business process.
Although you might go an Auction and wait for an item that you want, once the bidding takes place on the item you are either the highest bidder or you are not! Sellers can sometimes be emotionally attached to an item, inconsistent, unwilling to deal and only want to haggle. Auctions cut right through all that and who ever is willing to pay the most for the asset is who will own it.
Benefits of Buying at Auction
- Bid what you are willing to pay at Auction, and immediately know if you will own it or not
- Know exactly when the property is sold, not prolonged by non-motivated seller, can avoid lengthy negotiation periods
- Aware of terms and conditions of property then place a value on it
- Level playing field for all interested parties to make offers on same terms
- Have plenty of time to do your homework and complete due diligence before making an offer on the property
- Know seller is motivated to sell
What to Expect From an Auction Company
In order to make any Auction a success, the Auctioneer must provide services designed to ensure confidence in bidders.
- Provide a comfortable atmosphere to bid in
- Represent property fairly and honestly to potential buyers
- Answer buyers’ questions willingly & Truthfully
- Conduct business in a professional manner
- Make information available to bidders and easily accessable