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At North American Auctioneers we have developed a system of selling Real Estate quickly and efficiently through the auction method while still retaining all of the positive features and safeguards buyers and sellers expect of a conventional Real Estate Brokerage, including MLS. Our system of auctioning Real Estate ensures that sellers will sell and close their property quickly. Sales can be as soon as 21 days and closings as soon as 14 days after sale. This can often mean the savings the sellers will realize for not having to carry the property through a lengthy listing process is often passed on to the buyer, creating a win win situation for both buyer and seller.
Below is a table outlining the major differences between our system of Real Estate sales and a typical listing.
AUCTION METHOD ORDINARY SALE
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Focus is on your property alone
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Property is one of many being advertised
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Property sold in 45 days or less
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Property may remain on market for months to years
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No conditions attached to sale, most properties sold cash on closing
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Conditional sales common
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Closing date 30-60 days after sale
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Closing date negotiated with buyer
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Buyers buy on auction date
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Little motivation for buyers; you wait for them
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Auctions create sense of urgency
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Price reductions encouraged to create buyer interest
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Realizes the properties fair market value. No limit to how high price will go
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Sale
price is limited by asking price
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Extensive marketing process highlighting only your property
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Minimal advertising heavy reliance on Multiple Listing Service
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All terms of sale set by seller in advance
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Seller must negotiate all terms of sale
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This is why auctioning Real Estate has become so popular in
North America
and around the world with over 51.2 billion dollars in North American Real Estate auction sales for 2005 alone.
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This property had been previously listed for over 7 years. We sold it in 45 days for only $1000 under it's previous list price. |
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