Posted by Houserookie on August 16, 2002 at 18:32:19:
If you don’t have a good reason for people to skyrocket the sales price the auction approach won’t pay off. You’ll just get a bunch of Bluelight K’mart shoppers looking for Mercedes Benz for $50.
Illusions and tricks don’t get top pricing.
It can P@ss people off.
Austin
Anyone ever sell rehabs via auction - Posted by Mike
Posted by Mike on August 16, 2002 at 14:47:12:
Hi.
I responded to an ad in the local paper to have your house sold in 30 days. It turns out the advertiser is really an auctioneer and is looking for properties to auction off.
About a month ago, I would have simply dismissed this as not being a viable way to get a property sold, since my thinking about an auction is that properties will sold at steep discounts. But, I just recently bought the book “How to sell your home in 5 days”. Everything this man said was also mentioned in the 5 day book. The main difference is that this method uses an absolute auction rather than the auction “style” that 5 day uses. The concept of both methods being the illusion of buyer competition which should drive up the price.
Anyhow, I’m still not sure about getting market value from my rehabs this way. But it seems like an interesting avenue to pursue.
Any thoughts are appreciated.
Thanks.