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FAQs
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Frequently Asked Questions
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FREQUENTLY ASKED QUESTIONS REGARDING REAL ESTATE AUCTIONS
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How soon can we have the auction?
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Is there a fee for the auction?
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Can I get my asking price?
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Do I have to pay points, commissions, or any hidden costs?
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What about the contents, can you sell that too?
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How will people find out about the Auction?
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After the sale how soon before I get my money?
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How is financing arranged by the buyer?
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Are there signs in my yard regarding the auction?
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Is there an auction open house day?
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What do I do if someone asks me about the auction price, or any other questions?
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Does your license cover the entire State of Florida?
Answers:
Q: How soon can we have the auction?
A: We can hold an auction between 30-45 days.
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Q: Is there a fee for the auction?
A: Generally there is a marketing fee and is based upon the estimated value of the property and depends on the entire marketing program.
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Q: Can I get my asking price?
A: Sure! And, there have been properties auctioned where the seller realizes more than expected.
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Q: Do I have to pay points, commissions, or any hidden costs?
A: All costs are fully defined in the auction agreement. There are no hidden costs.
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Q: What about the contents, can you sell that too?
A: Sure! And the auction for both the real estate and the personal property can be held the same day.
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Q: How will people find out about the Auction?
A: An extensive, customized marketing program is put in place, including print media, brochure mailings, the internet and possibly electronic media. Also, many bidders/buyers are aware of online bidding opportunities. They will be found and they will find us through the internet.
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Q: After the sale how soon before I get my money?
A: The closing usually takes place within 30 days following the auction. At that time, all monies are disbursed. Additionally, possession is turned over to the buyer that day.
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Q: How is financing arranged by the buyer?
A: Auctions are all cash transactions thus alleviating any contingencies regarding buyer financing.
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Q: Are there signs in my yard regarding the auction?
A: Yes, this is all part of the marketing program, if allowed by the homeowners association.
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Q: Is there an auction open house day?
A: Generally there are scheduled preview times that are promoted in the marketing program, thus allowing prospective buyers/bidders an opportunity to preview the property prior to auction day.
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Q: What do I do if someone asks me about the auction price, or any other questions?
A: It is in the best interest of the property owner/seller to refer all enquiries to The Auction Company & Associates, Inc.
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Q: Does your license cover the entire State of Florida?
A: Yes! We have offices in Palm Beach and Brevard Counties, which gives our clients coverage throughout the State. We are also licensed in Massachusetts.
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