When considering the auction alternative, reflect on the advantages of working with Coldwell Banker Prime Properties.

Our reputation for professionalism, service and results helps insure the satisfaction of Buyers and Sellers who choose the auction alternative.

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Auction Services

Most times, the traditional approach to selling real estate works just fine. Sometimes, however, an alternative approach can produce quicker results for everyone- seller, buyer and broker.

Action services are often a good choice when the seller:

• Needs proceeds from the sale to purchase another property
• Is moving out of the area
• Want/needs cash as soon as possible
• Is burdened by high cost of carrying property
• Wants to promptly liquidate an estate

Benefits of Auctions for Sellers and Buyers

Real estate auctions have gained both credibility and popularity in recent years. Today's auction has become an innovative marketing tool which can benefit buyers and sellers in any type of market.

Auction services are often a good choice when the seller needs:

• Wide exposure of the property
• Attraction of qualified buyers
• Ability to obtain top market price
• Avoidance of high-carrying costs
• Less disruption of seller's routine
• Auction contract has no contingency

Advantages to buyer:

• Opportunity to buy at an attractive price
• Competitive budding process creates true market value of property

Types of Auctions

1. Sell with reserve price. The seller and Coldwell Banker Prime Properties Auction Services together agree on the reserve price (the minimum bid the seller will accept). If the property does not sell at auction for the reserve price, the seller agrees to re-list with current broker for 180 days.
2. Sell absolute. In this case, the property is sold to the highest bidder at the auction, regardless of price.

Marketing the Property

The seller is responsible for the cost of promoting the property prior to the auction. He/she pays for the advertising and promotion costs by submitting in advance $800.

Coldwell Banker Prime Properties then develops a marketing plan using a variety of media, to present the property to a wide range of possible buyers. Coldwell Banker Prime Properties Auction Services hold all open houses and conducts all the affairs of the auction.

Buyer's Premium

The seller pays no commission on the sale. Instead, the buyer pays a percentage (10%) of the purchase price as a premium.