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There’s no asking price to come down from, the opening bid prices are driven up by competitive bidding. This is the only method of marketing where the price is negotiated up, rather than down.
From the final sold price, to settlement, our costs are less than the traditional way of selling your Real Estate so you get to keep more of your hard earned money. Plus, auction requires buyer to pay 2% PA state transfer tax at settlement (1% savings to seller).
An auction brings interested buyers to a point of decision. They must act at that time or lose an opportunity to purchase. A 10% deposit requirement of the buyer at the auction calls them to a greater commitment.
A seller sets the terms, auction date, and time line. Maintains control of the property throughout the auction, and actively participates with the auctioneer in the process of the auction, to final settlement.
From open houses to sale date, everything is planned ahead of time so you know what to expect next. Plus, The final price is NOT based on any inspections, numerous contingencies, or needed repairs. Buyers purchase your Real Estate as they see it, no hassles.
A very difficult question with a very simple answer–results, it just works. Even in our changing economy, auctions are successful. The marketing plans we have developed have brought buyers and sellers together for years. The last 3 years we have sold over 60 Million dollars worth of Real Estate. Our average sold price exceeded public appraisals. The past 10 years over 99.5% of our real estate buyers have completed final settlement. We are not only getting real estate listed, we are getting them sold!
Yes. Most of the Real Estate auctions we conduct have a reserve bid. Meaning, if you the seller are not satisfied with our auction price, you can choose to not sell. We do not complete the transaction without your approval.
Every auction is different so we develop a plan just for your auction. Normally we market in newspapers, professional auction flyers, signage, several internet locations, as well as our personal website. In the past year, our internet advertising alone generated a minimum of 9,000 to over 40,000 different people either reading the auction ad or looking at auction pictures, for every one of our auctions posted on-line, plus an uncountable number of people reading our printed forms of advertising. We know how to market your property.
We do not recommend this approach. When a property has been marketed prior to an auction, the property is then “labeled” with a price. However, when a property is marketed at auction, the minimum acceptable price is determined between the seller and Martin & Rutt Auctioneers and is not disclosed. Then all efforts are set forth to sell the property for the maximum dollar, exceeding the minimum acceptable price.
Simply contact Michael Martin at (717) 371-3333 or John Rutt II at (717) 587-8906 to arrange for a free no obligation consultation. They will visit with you at your property and explain the entire process.
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