Sellers dictates the terms of the transaction NOT the buyers.
The terms are pre-defined and qualified bidders competitively bid at a preset date and time.
Pre-qualify bidders by establishing significant hard escrow requirements, proof of funds.
Global market penetration spurs maximum competition creating maximum pricing.
Real estate commissions are paid by the successful purchaser in the form of a “Buyer’s Premium,” commonly resulting in a higher net sales proceeds to the seller.
Due diligence is conducted pre-auction NOT post auction.
An “As Is, Where Is” transaction with no contingencies, including financing - No Re-trading Price.
The brokerage community is noticed and encouraged for earning commissions.
An aggressive closing period is demanded, usually 15 – 30 days after the auction.
The entire sales process / closing is accomplished in a 60 – 90 day period.
