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HAVE YOU
CONSIDERED A
REAL ESTATE AUCTION?
- Hiller Auction Service
- 763-856-2453
- Prairiewood Realty
- 763-633-7653
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- Why Should I
- Sell My Property
- At Auction?
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SELL YOUR HOME IN 30 DAYS! |
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You pick the day your property sell! Removing the uncertainty can help
make the process easier.
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Property is sold " as-is" and you set the terms. If you don't want to
look at contingent offers you don't have to.
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You property is listed on the MLS so an agent from any company can
represent a buyer for your property.
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Unlike automobiles, there isn't a "Blue Book" for Real Estate. Selling
at auction lets you know that you are selling at current market value.
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The Peak interest in any property happens in the first 30 days. Our
extensive 30 day marketing helps to maximize that interest.
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We conduct two open house/auction previews. We feel this gives ample
opportunity for serious buyers to view your property and causes you the
least inconvenience.
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We require the successful bidder to put down non-refundable down
payment the day of the auction. This helps to insure that they are serious
about buying your property.
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We typically sell real estate with a Buyers Fee. The reason for that
is simple, it's the easiest for our sellers. Sellers want to know what
their bottom line will be. Selling with a Buyers Fee makes it easier for
them to determine if the bid price will be acceptable. At the sellers
request, we will be happy to work for a commission and not charge a Buyers
Fee.
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Sellers do have the right to reject the final bid (unless otherwise
advertised). The majority of our sellers DO sell.
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- Why Should I Want
- to Buy a Property
- at Auction?
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- The single largest
- transaction in most
- peoples' lives is the
- buying or selling of
- real estate.
- It is also the one
- thing they have the
- least experience with.
- Why wouldn't
- you want to
- buy or sell knowing
- you have done
- so at current
- market value??
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An auction insures that you will be given every opportunity to buy.
When you call for info on a property you won't be told "I'm sorry , there
is an offer pending"
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There is no rushing to make an offer. You know what day the property
will sell.
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We require our sellers to fill out disclosure statements. You will
know the condition of the property and be able to bid accordingly.
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Unlike automobiles, there isn't a "Blue Book" for real estate. Buying
at auction lets you know that you are buying at current market value.
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Realtor Information
- We look forward to
working together. If you already are familiar with real estate
auctions,
please click on the Broker Participation form below.
Please print it, fill it out and fax it to us at 763-856-1453.
If this is your first experience with real estate auctions, here
is some info on how our auctions work.
First, we do two types of auctions, absolute (without reserve) and
reserve (auctions with a minimum selling price).
The majority of our auctions are done with a reserve. The most
frequently asked question is “what is the minimum bid”.
We can’t answer that for two reasons. First, it is our fiduciary
responsibility to the seller not to. Second,
sellers often accept less the day of the auction than they had
previously stated. Our sellers want bidding to
determine current market value. Most of our auctions are sold with an
8% buyers fee.
A bid price of $100,000 with the 8% buyers fee ($8,000)
will have a contract price of $108,000. Our commission splits are
based on the bid price not the contract price.
A 2.7% broker participation for our example would equal $2700 and
Hiller Auction and
Listing Company would split the remaining $5300.
Our usual buyer broker split is 2.7% (check the MLS for the auction
you are interested
in to see what we are offering on that property).
If you are representing a buyer, this is what we expect from you:
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1. Be present any time your
client is at the property. This includes any open house(s) and the
auction.
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Help them research the property. Don’t have them call us for
info on the property, that is your job.
2. Be prepared to show your client what the contract price will be and
what their monthly payment will be during the auction.
3. Help your client determine the property value. Do your own market analysis on the property. What would you have listed
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this as if it was your listing? Let
your buyer know this isn’t a “fire sale”. The auction method of
marketing simply helps determine
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current market value. In conversations with bidders who were unsuccessful, the majority say they wish they had bid at
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least one more time.
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4. Print
the Broker participation form, fill it out and fax it back to us 48
hours prior to the auction. Our fax number is 763-856-1453.
If you have any other questions call Kevin Hiller
763-856-2453
Click here to
print Broker Participation form
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