Once you have made the decision to sell a portion or all of your property, the next step is deciding who will help you with the sale. A few will try to sell on their own and are sometimes successful. Most individuals, and companies as well, prefer to turn real estate sales over to the people who do that sort of thing for a living. At this point, you will probably be deciding whether to choose a Realtor or, if you are in the Dakotas for instance, opting for a North Dakota land auctions company.
The auction method has been around for a long time both as a way to sell personal and real property. If you have already decided that you do not want to try to do this job yourself, you should thoroughly research real estate and auction companies to make certain everything will be handled professionally and legally.
There are many differences between a private treaty sale and a public auction. If you opt for a private sale, you will be required to sign a listing agreement with the selected real estate agent. Most private treaty agreements will tie up your property for at least six months. The realty company will most likely advertise the land on several online sites at no expense to you.
An auctioneer will probably recommend listing your land for sixty to ninety days. This should give them adequate time to prepare the acreage and advertise the auction. Large tracts are often divided into smaller lots. This generally brings a higher price for the seller. There will be a marketing budget put in place that you will have the opportunity to approve.
The auction company will work with you and explain exactly how the property will be advertised. There will probably be a plan involving various advertising venues such as signage, internet, brochure, newspaper ads, and radio and television spots. The real estate pros may recommend that you auction your land utilizing an online bidding system, or they may recommend an onsite auction only. They may also discuss using a two pronged approach with both online and onsite bidding.
It is not unusual for a ten percent buyer's premium to be added to the high bid price in order to obtain the selling price. This is a tool that is very familiar to seasoned auction goers and does not deter them from bidding. By utilizing this technique, you avoid paying any commissions from your proceeds. The buyer's premium goes to the auctioneers at closing to pay their fee. Of course everything is negotiable, and whatever you agree to and put in the listing agreement will be the binding terms of the sale.
An auction is either absolute or sold with a minimum, or reserve, price. If you decide to sell your land absolutely, you are guaranteeing that you will sell regardless of the high bid. If you choose to offer your acreage with reserve, then you have can either agree to sell or not.
If you live in Cando, ND or anywhere else and have acreage that you are interested in selling, the auction method is certainly something to consider. In a matter of weeks, rather than months, you should have money in your hand and be ready to move ahead.
The auction method has been around for a long time both as a way to sell personal and real property. If you have already decided that you do not want to try to do this job yourself, you should thoroughly research real estate and auction companies to make certain everything will be handled professionally and legally.
There are many differences between a private treaty sale and a public auction. If you opt for a private sale, you will be required to sign a listing agreement with the selected real estate agent. Most private treaty agreements will tie up your property for at least six months. The realty company will most likely advertise the land on several online sites at no expense to you.
An auctioneer will probably recommend listing your land for sixty to ninety days. This should give them adequate time to prepare the acreage and advertise the auction. Large tracts are often divided into smaller lots. This generally brings a higher price for the seller. There will be a marketing budget put in place that you will have the opportunity to approve.
The auction company will work with you and explain exactly how the property will be advertised. There will probably be a plan involving various advertising venues such as signage, internet, brochure, newspaper ads, and radio and television spots. The real estate pros may recommend that you auction your land utilizing an online bidding system, or they may recommend an onsite auction only. They may also discuss using a two pronged approach with both online and onsite bidding.
It is not unusual for a ten percent buyer's premium to be added to the high bid price in order to obtain the selling price. This is a tool that is very familiar to seasoned auction goers and does not deter them from bidding. By utilizing this technique, you avoid paying any commissions from your proceeds. The buyer's premium goes to the auctioneers at closing to pay their fee. Of course everything is negotiable, and whatever you agree to and put in the listing agreement will be the binding terms of the sale.
An auction is either absolute or sold with a minimum, or reserve, price. If you decide to sell your land absolutely, you are guaranteeing that you will sell regardless of the high bid. If you choose to offer your acreage with reserve, then you have can either agree to sell or not.
If you live in Cando, ND or anywhere else and have acreage that you are interested in selling, the auction method is certainly something to consider. In a matter of weeks, rather than months, you should have money in your hand and be ready to move ahead.
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