In many real estate transactions, "value" can only be guessed at.
There is, of course, what the seller is asking, what the agent says are "comparable sales" in the neighborhood or what an appraiser estimates.
Everyone's got an opinion. But are they buyers?
In the larger world of trade, value has customarily been defined through open, competitive bidding. The world's stock exchanges represent the most common example of this "free market," where what a buyer pays is only one bid more than other potential buyers. We believe this is the most cost efficient and productive method designed for trading property.
Knowing that what you are paying is only a small percentage over and above another potential buyer, we believe, is "true value." This is why we also believe auctions create the most "true value" for buying and selling real estate.
BENEFITS TO THE BUYER:
- Smart investments are made as properties are usually purchased at fair market value through competitive bidding
- The buyer knows the seller is committed to sell
- Buyers determine the purchase price
- Auctions eliminate long negotiation periods
- Auctions reduce time to purchase property
- Purchasing and closing dates are known
- Buyers know they are competing fairly and on the same terms as all other buyers
- Buyers receive comprehensive information on property prior to the auction date
THE BOTTOM LINE
Our auction services are about efficiency, transparency, achieving true value, and results. Our clients appreciate the "time value of money" and are focused on achieving a sale of their property, while not wasting their or anyone else's time. For them, market value is defined as the competitive result of open, public bidding, where everyone is assured of the right to participate and a result based on actual vs. hypothetical values.
Our clients include trustees, lending institutions, businesses, governmental agencies and thousands of private individuals. In every instance, Coldwell Banker Glennon-Weber Auction Division strives to provide the highest degree of professional services and advice, tailored to each unique situation and/or property.
- Estates, where the heirs, executor or trustee need complete services from appraisal through closing, often including the sale of personal property and/or short-term property management.
- Relocations, where the owners have purchased another home, farm or business and seek a turn-key sale of their previous property in a timely, orderly and hassle free manner.
- Retirements, where the business or agricultural enterprise is to be dispersed with maximum ease and benefit, and for the highest net value possible.
- Investments, where the developer or investor is interested in targeted marketing with guaranteed results, to increase returns and/or maximize exposure.
- Court orders, where the trustee, creditors and/or disputing parties require reasonable and equitable liquidation of their property interests, while maximizing the net return on assets and limiting current or potential liabilities.
- REO (real estate owned) disposition, where government agencies and/or private lenders desire open and competitive bidding to insure complete transparency, highest net values and loss mitigation, by reducing or
even eliminating the costs and liabilities of ownership.
