THE BENDER AUCTION ADVANTAGE
There are many advantages of selling a property at auction.
A quick sale and complete control over the timing and terms of the sale. Action is immediate. Sales are held in 45 to 60 days, with subsequent closing in 30 to 45 days. You have the advantage of being able to set the day and time that your property will be sold and establish the fixed terms and conditions of the sale.
Eliminate holding costs. You eliminate the carrying costs that are incurred on a day-to-day basis with continued ownership, such as interest, taxes, insurance, maintenance and continued marketing. This can add up to 15% to 25% of the property's value per year, depending on the type of property. Liability is also an important factor.
The market place sets true value. The market sets the right price so the seller doesn't risk over-pricing and turning off buyers or under-pricing and learning after the purchase agreement is signed that others would have paid more. Starting with the opening bid, you arrive at a true market value.
Advertising advantage. The seller is assured of dedicated attention to market the property. This involves an intensive advertising, marketing and public relations program that creates a market for the property and makes the actual auction an "Event" generating additional excitement. The auction promotion is concentrated, intensive and dominates the marketplace for 4 to 6 weeks before the sale.
Creates urgency to buy. When the auction advertising begins and the signs and banners go up, people are convinced that the property will be sold on auction day. This means they must buy now or it won't be available later. This motivates a buyer to get ready to compete now. Buyers come to auctions mentally and financially prepared to buy that day. During the auction, buyers reinforce each other as to value during the bidding process, insuring higher prices for the seller.
Fairness. An auction can help assure fairness among family members, partnerships, etc. when the property is sold. The sale is conducted in a manner where there can be no criticism as to the price obtained.
Broker participation. Cooperation with "competing" brokers is actually very beneficial. It allows maximum exposure of your property to all prospects and helps obtain a higher price.
Our services doesn't cost...it pays! Call Bender Commercial today for a "FREE" auction assessment of your commercial property. Now may be the best time to sell your property for its maximum worth.