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 Alexandria Home Sales, LLC

        Now Booking Auctions for 2017

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Types of Real Estate Auctions

Absolute Auction (or auction without reservation.)

In an absolute auction, the property is sold to the highest bidder, regardless of the price. The main advantage of an absolute auction is that it generates maximum response from the market place. Since a sale is guaranteed regardless of the price, buyer excitement and participation are heightened. This type of auction attracts the largest number of buyers.

Minimum Bid Auction

In a minimum bid real estate auction, the auctioneer will accept bids at or above a disclosed price. The minimum price is always stated in the brochure, in the advertisements, and is announced at the auction. An alternative approach is to post a "suggested opening bid," but that opening bid does not commit the owner to sell at that price. An advantage to selling via the minimum bid method is that it creates a safety net for the seller that does not exist in the absolute method. The seller's risk is limited in that the price that the property sells for will fall above a minimum acceptable level.

Auction with Reservation

In an auction with reservation, a minimum may or may not be posted, and the seller reserves the right to accept or reject the highest bid. The owner predetermines the price at which the property will be sold which typically is not disclosed to the buyer. The advantage is that the seller is not obliged to accept a price other than one that is entirely acceptable.

Selling by the Auction Method

Sell from list to close in as little as 45 days. When you specify a date on which the property will be sold a sense of urgency is created with prospective buyers. This becomes the catalyst for the entire sales process. Your property is showcased exclusively in the marketplace which provides maximum exposure reaching the most potential buyers in the targeted market.

You, the seller, set the time and date of the sale. Buyers act on your schedule and terms. Negotiations are eliminated by specifying down payments and closing time frames. Potential competition for your property can exceed everyone's expectations in price. Unique and hard to price properties can be difficult to get a true appraisal with few comparables. Guesswork in establishing an asking price is eliminated with the auction establishing fair market value. Potential for upside sale is unlimited.