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Real Estate Auction: How to Get the Best Deal for Your Money
The real estate market has changed dramatically in the last three or four years. Likewise, real estate sellers have had to adapt to the changing market conditions by changing their approach to selling. To help them Micoley.com has developed an alternative to selling real estate – using online auctions and other types of sales events to move properties. While most real estate sellers cannot afford to sell at today’s depressed market values, Micoley has found the ones who can, and they are willing to negotiate aggressively on limited inventory.
"Auction sellers are motivated to sell property and are committed to a defined time frame. An auction seller is raising their hand in the sea of real estate for sale to say, ‘Hey, look at me, I am serious about selling this property,’” said Wade T. Micoley, President. “Many sellers today would like to sell if they can get their price. But in today's all time low values, you want to purchase from someone who understands the true market value and is really willing and able to sell.”
Those things alone can lend themselves to buyers getting some great deals on residential, commercial, or other types of investment properties. With starting bids low it's the bidder’s decision how much they are willing to pay for a property. And, as with any auction, real estate auctions produce attractive prices for sellers and buyers alike because they offer built-in price competition and those buyers bidding on the properties determine the final sales price. If investors live out of the area they don't need to travel to the live auction to bid. Bidding online is easier and more convenient then attending a live auction.
If you’re wondering whether online real estate auctions are safe, wonder no more. They are as safe and secure as any traditional kind of transaction. In fact, the federal government is among many agencies and organizations that are embracing technology and the global marketplace it affords, by auctioning many goods online.
"At Micoley.com we have been working to perfect the online real estate purchase. The number of online sales has been growing at a rapid pace over the last five years and does not seem to have an end in sight. Much like retail sales, car sales and other consumer goods, online sales are becoming a normal way to purchase. Just in the last couple of years the holiday sales for retail was surpassed by Internet sales. It’s convenient, safe and an enjoyable way to shop,” Micoley said. “And although it’s easy, it still does need the buyer to complete their due diligence. All buyers should download and read the available materials on the property and do on-site inspections. Typically any seller that chooses this method of sale has a high motivation to sell. With that come great deals for the buyer, but also the responsibility to be sure they understand the property and any potential problems with it.”
Other things to keep in mind in order to help ensure you get the best deal possible: Read the contract in full; physically visit the property, if possible; if the property is a multi-family property, acquire rental history, vacancy rates, property taxes, etc.; and know the area in which you’re buying so you know what to expect in that market.
Right now Micoley.com has an exceptionally high number of commercial properties, all priced to sell, as well as a wide variety of other properties. Photos, property details and additional information about their listings are available online at www.Micoley.com. Besides up-to-date property listings, you can visit their website to view auctions and sales events, to place a bid or make an offer, to get additional information, or to sign up for email updates.
For those new to online bidding, Micoley’s trained staff of auction professions will be available to answer all questions and to educate those new to the auction experience. Simply visit www.Micoley.com to “live chat”’ with an Auction Professional or call 1-888-662-1020.
Micoley.com, located in Green Bay, WI, is a real estate marketing company specializing in bank-owned properties throughout the United States. Their unique approach to real estate sales is executed through customized marketing programs and project focused auction plans, customized for each of their unique clients. Be sure to visit their website for future Auctions and Sales Event information as inventory changes daily.
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