To accelerate the sale of your property by generating additional consumer interest and activity. Advertising a property for auction creates a sense of urgency, bringing all interested and serious parties together on one specified day. An auction typically provides multiple bidders competing to buy, often bringing higher revenues than negotiating with a single buyer. Non-contingent contracts and 30-day settlements are required of the buyer of your property. This means a quick transaction for you!

Can I attend an auction before agreeing to sell my home through the Auction Method?

Certainly. It is encouraged that you attend so you can experience a live example of the auction process firsthand. Check upcoming Auction schedules. Remember, each and every auction is different, so you cannot necessarily assume that your auction will be like any other auction you may have attended.

I am not in financial trouble, and I am concerned about what people may think if I should auction my property. Can you give me any insight on this?

Many people are afraid of the old, outdated perception of auctions that some people have. There are great differences in the marketing and the public image of a voluntary, 'by choice,' auctions versus a trustee sale. Auctions are positive, enthusiastic events designed to generate competitive bidding to secure the highest possible market price for your property.

I am concerned about the net amount I will realize from the auction, and my ability to cover my existing mortgage. What advice do you have to offer on this?

This is a valid concern for many sellers in today’s marketplace. Auctions are designed to accelerate the sale of property by determining what the market is willing to bear. On auction day, the market will determine what valuation is acceptable for your property.

The fact that you are selling at auction does not change the market value of your property. In short, if the market value is at a level below your existing mortgage, that is the price that is work with regardless of whether we use the traditional method or the auction method to sell your property.

Will we still have to consider contingent contracts?

Everything that is sold at auction is sold "as is" and "non-contingent," with a 30-day projected settlement date and the buyer paying all allowable closing costs associated with the sale, unless otherwise negotiated.

Where will the auction of my home be held?

Most auctions are sold on-site. By being on-site, bidders are constantly reminded of the positives associated with that particular property, which, in turn, can encourage a higher bid.

Who pays the auctioneer fee?

The auctioneer is paid via the buyer's premium which is added to the buyer's final bid. The seller is only required to invest in the advertising and expenses of their auction event. This way you can be sure you receive the maximum advertising exposure possible for your property.

Does "as is" mean that I do not need to disclose any known defects?

Though the property is being sold "as is," applicable state and federal laws must be abided. The Broker-Auctioneer will offer full disclosure to all interested parties in accordance with the law.

How do I sign up for auction?

Set up an appointment with a reputable Auction company to view your property and determine whether it is appropriate for the Auction Method of sale.

The property is priced below the market right now. What is this going to mean if I register it for auction?

It has been found that often price is not the issue in determining why a property has not sold. Many times the reason that a property has not sold is that there has not been adequate traffic to view the property, and therefore, not enough interest has been generated in order to sell the property. In other words, it has become "stale" on the market. The auction process is the best way to revive interest in the property and instill the excitement for it that will result in a positive sale.

What types of property are sold?

All types of real estate, from condominiums, co-ops, townhouses, single-family dwellings, land, vacation properties, commercial and investment properties to high-end premier properties and country estates. Auctions have been successful in all of these categories.

For more information on selling your property with the auction method, please visit http://www.paxinc.com/, call (661) 282-8466 or e-mail Corporate@paxinc.com