Posted by dealmaker on April 09, 2005 at 23:42:13:
Check the RE laws of your state first. You don’t want to hold an auction thinking you’ll get $200K, have only two bidders show up, bid $39K and have to sell for that. You’ll quickly learn the meaning of “specific performance”.
dealmaker
Has anyone tried the Auction Method - Posted by LeasePurchase
Posted by LeasePurchase on April 09, 2005 at 18:56:42:
I’ve heard of it but don’t understand how it works. It sounds interesting and I might want to use it on one of my properties.
Re: The 5 day sale - Posted by Dan-Fl
Posted by Dan-Fl on April 10, 2005 at 06:39:06:
There is a book out on this.I don’t remember the name,something 5 day.It works great in this market.No realtor fees and I got above market price.
Re: Has anyone tried the Auction Method - Posted by Killer Joe
Posted by Killer Joe on April 09, 2005 at 20:15:09:
LP,
Do you mean the type of auction where you hire an auctioneer, do massive advertising, hold the auction at the property, and sell to the highest bidder?
My sister tried that route in Kentucky, in the 80s, in a down market, and no one showed up. It was a total washout. I’m sure things are different today, and in a hot market, it might bring a good price for the property.
KJ