In Pennsylvania, auctions are a great way to sell real estate! Our auction commission rate is lower than a real estate broker/agent. We structure the auction’s agreement of sale to benefit the seller. We sell real estate without contingencies (sold-as-is, in its present condition and without warranty). Additionally the transfer tax is paid by the winning bidder instead of the seller.
We sell real estate to the highest bidder! The final sale price of your property can potentially go above the appraised value due to the competitive environment at our auctions.
A real estate auction can have a reserve put in place, and if not met the sale does not go through. The seller is always protected and in control of the sale price of their property. If the reserve is met, then the winning bidder/buyer pays 10% deposit in the form certified funds on the day of auction, which is “non-refundable.” The auction can be structured to have settlement within 45 or 60 days. This swift process benefits the seller in saving time with their future plans by getting their property sold.
We use an attorney that specializes in auction/real estate law to assure a smooth settlement transaction.
We have the ability to work with real estate brokers and agents to help make a connection with potential buyers to be present at the sale.