- Brookfield Wagers on D.C. March 17, 2010Brookfield Properties is eyeing a collection of about 20 buildings in or near Washington that fell into default last summer. […]
- Simon Readies New Bid for GGP March 17, 2010Simon Property is readying a sweetened takeover bid for bankrupt rival General Growth that would top an offer on the table from several General Growth investors. […]
- Regus Hits Rough Seas March 17, 2010The provider of outsourced office space in Europe has seen the recession put pressure on occupancy and pricing, damping earnings. […]
- Developers Back Off Harlem Plans March 17, 2010Kimco Realty is the latest real-estate developer to consider pulling out of a project in the predominantly African-American and Hispanic community in upper Manhattan. […]
- Westbrook Swoops In to Aid Millennium March 17, 2010The deal saved the Four Seasons San Francisco from possible foreclosure. Westbrook also got controlling stakes in Millennium's Four Seasons Miami and Ritz-Carlton Boston. […]
- Bankers Exit CBRE for Jones Lang LaSalle March 16, 2010Jones Lang LaSalle, a global commercial-real-estate services company, hired away a team of bankers from industry leader CB Richard Ellis Group. […]
- Land Sale Records in Beijing March 16, 2010On Monday, land sales in Beijing shattered price records—not once but twice, according to a report in China Daily. […]
events
APARTMENT BUILDING AUCTION
The featured inventory will be starting at low Min. Bids.
March 27, 2010 at Chicago Marriott OAK BROOK
AUCTION SEMINARS
Learn how to sell and buy at real estate auctions.
OPEN HOUSES
Inspect the properties prior to the auction.
Types of Auctions
Each event held by RealEstateAuctions.com typically features three types of auctions. Each is easy to define, understand and participate in.
Absolute Auction
Highest bid wins, regardless of price. Absolute auctions are usually the most exciting and well-attended of the day. Potential buyers are attracted to absolute auctions because of the possibility of landing a property at a bargain price. Sellers love absolute auctions for the buzz they generate and the competitive bidding that is almost sure to result. The result? Typically a happy meeting ground for both parties.
What a great feeling for a winning buyer to know that he or she outlasted fellow bidders and won a desirable property at a fair price, while the seller has absolute confidence that he or she has received true market value for the property in the purest form possible: direct, head-to-head competition.
Minimum Bid Auction
These auctions begin at a minimum set price established by the seller. The minimum bid is published in the brochure and announced by the auctioneer at the start of bidding for that particular property.
Reserve Auction
This type of auction allows the seller to accept, reject or counter the “winning” bid. Sellers may make this decision before the event ends or they may take up to three days to decide. This gives sellers protection that their properties will not be sold below a level they can live with.
To learn which types of auctions apply to each property, be sure to check them on this website. Printed materials, large-screen displays and announcements at the event will also provide that information. In addition, we’ll have plenty of helpful associates on hand to provide assistance, as needed.
Sellers, be sure to contact us if you’d like more information about which type of auction to choose for your property.
Great infomation. I have bought and sold properties in auctions and it is the way togo