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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: Depending on the property and the overall marketing plan, the timing of the auction will be scheduled to best suit the property. This can usually be done within 45 days but may be extended.
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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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