• The property is sold to the highest bidder, regardless of price.
• Since a sale is guaranteed, Buyer excitement and participation is heightened.
• Generates maximum response from the market place, thereby being the only auction process to ensure attaining true market value. An Absolute Auction is one without any minimum bids or reserves and is the only sales method that GUARANTEES a sale. On the average, property sold ABSOLUTE will usually bring a little more than anticipated because the buyers know that they have to bid their best price if they hope to own the property. An Absolute Auction attracts the largest number of bidders and results in the spirited competitive bidding that produces maximum selling price.  However, an absolute auction may not be the right choice for all Sellers, particularly where there are significant outstanding mortgages, or where other conditions might affect the marketability of the property.  Maximum prices through maximum attendance. 
• Many sellers, including financial institutions and government agencies, have used this method for years since an absolute auction offers the best performance results of all.

Reserve Auction (Subject to Seller Confirmation):

• The property will sell to the highest bidder above a preset minimum price (the undisclosed "reserve amount") determined by the Seller in advance.  This reserve amount will not be published.  However, for the auction to be effective, the reserve price must be low enough to represent a "bargain" for the buyer.  The number of bidders in attendance will be in direct proportion to the perceived "bargain". Once the reserve price is met, or is exceeded by continuous bidding, Seller is obligated to sell the property to the highest bidder. 

Q. How much will my property sell for via an auction?
A. Whatever the current Market Value is on day of sale! This is always a tough question to answer, as a lot of variables come into play during an auction.  Rarely do homes sell for the minimum bid, as emotional attachment or plain competitiveness becomes a hugh factor during the bidding process.  There are no guarantees in life and our only guarantee is that a properly advertised and marketed auction will deliver the present cash market value for a property 100% of the time!  The present cash market value is what something is worth today and that is set by a group of people with cash in hand ready to buy your property in "as-is" condition with a closing in 30 days or less!  Many Sellers fail to realize that they control only the ownership of their property, not the value.  The auctual value of any property will always be produced by the buying side of the market, and expressed through price!

Q. Who pays the auctioneer fee in a real estate auction?
A. The auctioneer is paid via the buyer's premium in a real estate transaction, which is added to the buyer’s final bid. There is no commission charged to the seller! 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. If all the advertising investment is not fully used, whatever is remaining will be refunded back to you at closing as required under Florida law.

Q. How is the property marketed?
A. A marketing plan is developed by the Auctioneer. The seller's asset can be featured in flyers, catalogs, direct mail pieces, regional and targeted advertisements, our website, National Association of Auctioneer's website, AuctionZip, and other marketing avenues.

Q. Does "AS IS" mean I don't need to disclose any known defects?
A. No. Though we are selling "AS IS", the seller must abide by all applicable state and federal laws (including inspection and disclosure regulations) relating to the type of asset transaction we are conducting.

Q. I am concerned that the amount I will receive from the auction might not be enough to cover my existing mortgage.  What advice do you have to offer on this?
A. Florida Auctioneers & Realty, LLC will help you decide if the auction process is best suited for you, or if you would be better off with a "Short Sale".  We understand your concerns and your need to cover an existing mortgage on your property.  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 true market value is at a level below your existing mortgage, then that is the price you have to work with regardless of whether you use the traditional method or auction method to sell your property.

Q. Where will the auction actually be held?
A. Usually, we hold all auctions 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.  However, we also use our online internet auction, community centers or hotel ballroom settings, depending on the needs of the seller, the location and type of property, and the concentration of assets.

Q.  How do I sign up to sell my property?
A.  Call us TODAY at (941) 927-8108 to setup an appointment to preview your property and determine whether it is appropriate for the auction method of sale, or "Contact Us" by email.  If your property is now listed with a real estate broker, ask them to refer your listing to Florida Auctioneers & Realty, LLC, and the broker will be compensated at closing of your property.