Would you??
The excitement builds for both the Buyers and Sellers, and then the gavel is brought down and the auctioneer cries, "SOLD!"Maybe you've never experienced the thrill of a live auction, and don't understand how auctions work. We hope to answer all your questions on this website!
Sellers benefit because they don't have to wait and wait for their property to sell as happens with traditional methods of selling in today's market. Traditional methods require setting a maximum price, and going down from there. The auction price begins low and builds. Why? Because auctions create excitement and a sense of urgency, prompting Buyers to act quickly. Exclusive and massive advertising is done for the Seller to bring interested Buyers to one location at one time. The property is then sold without contingencies, as is where is. The closing generally occurs within 30 days.
Buyers benefit because they know the Seller is committed to sell! The purchasing and closing dates are known, and there are no long negotiation periods. Buyers know they are competing fairly and on the same terms as all other Buyers. And the Buyers actually determine the purchase price through competitive bidding! So if you're the successful bidder, you'll know that your price is a fair market value.