Does a real estate auction indicate that a property or seller is in a distressed situation?
The association between auctions and distressed situations is a fallacy. The majority of real estate auctions are not a result of distraught sellers. Auctions are a decision that smart seller who understand the importance of the time value of money and an aggressive marketing campaign. Educated sellers choose a cost effective approach instead of using traditional listing methods that produce contracts with contingencies and indefinite marketing periods. Traditional listings take the control away from the seller and bargain down on price rather than up, as in the auction method. The real estate auctions method schedules a sale date, sets terms and conditions and produces a non-contingent contract.
Related Questions
- Are real estate licensees restricted from purchasing any distressed property, even distressed property not listed with their firm?
- Having registered with Gez Group as a cooperating real estate agent how do I list a property for auction?
- Does a real estate auction indicate that a property or seller is in a distressed situation?
