The Real Estate Auction process is geared for individuals and companies that need to sell their property in a short amount of time for the highest possible price.
Why sell at Auction?
Fast Turn around
No Contingencies
Buyer pays all closing costs
No Sales Caps
Property is sold "As Is, Where Is"
Fast Turn around: Property Sold using the Auction Process closes quick. 30-45 days for marketing, and up to 30 days to close.
No Contingencies: Property is sold as is, where is.
No Sales Caps: Since selling at auction utilizes competitive bidding there is no price cap. The bidders determine the true value of the property.
Frequently Asked Questions
Can you sell my property with a reserve?
Yes, we will can sell your property with a reserve price. Please note that the reserve price must be predetermined and be reasonable. We will turn away property with an unrealistic reserve because our goal is for the property to transfer ownership.
Are there upfront costs?
Yes, there are upfront costs for marketing, and inspections used to market your property. These costs are reimbursed to the seller at closing at the rate of $500 for every 50K of the closing price. Cost start at $2,500 this covers the costs of signs, marketing, and inspections provided to aid in the sale of the property and to reduce the time needed to close.
What are the commissions?
Commissions are paid by the buyer. This is paid is the form of a buyer's premium.
Will you work with Realtors?
Yes, if pre-arranged. If you are a Realtor and would like more information on how this process works please contact us directly.
What's the next step?
Give us a call for either more information or a free consultation @ 757-871-4360.
Auctions by Wallace
9315 Pocahontas Trail
Providence Forge, VA 23140
Phone: (757) 871-4360
Phone: (804) 966-2253