WHY A REAL ESTATE AUCTION? | Walker Commercial Services
A real estate auction can be an effective way to generate interest and help sell a property at maximum value. Auctions offer an accelerated process through open bidding often on site in what some call an intense selling event.
Commercial property auctions are a prime opportunity for buyers and sellers because of the great exposure of a real estate auction.
Why should you consider a property auction?
- Auctions can reduce the amount of time a property is on the market
- Auctions create buyer competition and excitement
- Auctions can result in quick closings from quality buyers
- Auctions are ideal for estate and surplus properties
- Auctions can refresh a listing that’s stagnated using a traditional sales approach
- Auctions can eliminate long negotiation processes with an immediate sale
Benefits of a Real Estate Auction
Real estate auctions are beneficial to buyers, sellers, and agents. It’s a property sales situation that can help all parties involved; that’s one of the reasons Walker Commercial Services offers this opportunity throughout the Roanoke Valley.
Auction Buyer Benefits:
- Get a smart investment at fair market value
- No negotiations; you know the seller wants to sell
- Buyer determines price they are willing to pay
- Set purchase and closing dates
- Due diligence packets provide plenty of property information
Auction Seller Benefits:
- Buyers come prepared to purchase
- No negotiations; you know the buyer is serious
- Quick property disposal reduces long-term costs, including maintenance and taxes
- Exposure to a large number of potential buyers
- Ensures an aggressive marketing program to generate interest
Auction Agent Benefits:
- Generates a list of prepared and qualified buyers
- Properties are sold quickly
- Commissions can be generated from auction sales
- Auctions help generate interest for other listings
- Referrals and return business
How a Property Auction Works
A property auction is a three-step process. Walker Commercial Services has an app to facilitate bidding and make it a more seamless, contactless, and easy experience. You can download the app from the Apple or Google Play stores. Search for Walker Commercial Services.
A property auction gets underway with bidding. It’s important to read contracts and terms and conditions before placing a bid. The auctioneer will control bidding and has final say in the process.
Generally, the winning bidder places a down payment of 5% or 10% of the high bid, subject to a minimum that must be paid by cash or check.
Finally, closing on auctions is within 30 days of acceptance unless noted otherwise. Access to the property occurs after closing.
Upcoming Commercial Auctions
View upcoming auctions or download our app to keep up with the auction schedule and news, or bid from anywhere.