- BofA Ends Some Overdraft Fees March 10, 2010Bank of America plans to announce that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead of a sweeping round of regulations. […]
- Helmsley Estate Sells Manhattan Hotel March 10, 2010The Helmsley Carlton House is being sold to a partnership between private-equity firm Angelo, Gordon & Co. and Extell Development for about $170 million. […]
- Apollo Signs Citigroup Deal March 10, 2010Apollo's purchase of Citigroup's real-estate investment business would give Joseph Azrack a second tour of duty. […]
- European REIT Rollout at Hand March 10, 2010With European property markets beginning to recover from the market downturn and global recession, there are signs that the REIT revolution could be at hand. […]
- General Growth Lines Up More Capital March 9, 2010Mall owner General Growth Properties has bolstered its case for exiting from bankruptcy protection as a stand-alone company. […]
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