Take Control with Real Estate Auctions!
For best results, a savvy investor will strive to ensure that property is placed into service at its “highest and best use.” Essentially this means that revenue is maximized and expenses are minimized through optimized operations. This could mean for example rather than renting a large single family in a conventional manner to a single household, the house might be structured as an assisted living facility. This way, instead of making $2500 per month, perhaps the property could generate $10,000 per month, because properly run, each room could generate $2500 or more per month; of course this would have many variables such as location, zoning and services provided. Additionally, when it’s time to sell the property, ideally the house would be sold as a business for a higher price, instead of selling it as a residence!
And so it goes with selling your property via the auction method. When a property is to be sold, choosing to sell via auction usually affords a seller greater discretion in the disposal of the asset, with the opportunity to achieve a higher selling price. Keep in mind one can auction a single-family house, multifamily apartment building, commercial office space, empty land, agricultural land, retail building, and even gas stations – any and all types of physical real estate. Auctions are not just for distressed properties. Auctions are, however, for the decisive.
Although your realtor will guide you/the seller with professional recommendations, the seller can choose the amount for the starting bid; decide to pay full commission, split the commission or pay no commission at all. The seller may only want an online auction instead of a live auction at the subject property, or maybe both methods simultaneously. You determine the marketing budget. You are fully in control. You are in the driver’s seat with an auction. Be confident in the outcome and choose to auction your property for great results.