FAQ

The multi faceted customized advertising will provide the most exposure possible using targeted user profiles.

Our marketing program usually last 4-6 weeks, allowing sufficient time for advertising to reach the intended market. This time frame will also provide buyers the opportunity to conduct pre-auction on-site inspections. Once the property is under contact, closing typically occurs within 30-45 days, completing the transfer of ownership.

Our custom tailored advertising program sets your property apart from other comparable listings offered through traditional means. Condensed marketing periods allow for maximum exposure in national and regional publications, Internet exposure to not only Buyers, but to the Brokerage community through various advertising venues, as well as our own database of existing clients and past customers compiled over 30+ years. Color brochures and due diligence packages insure each property is presented in it most positive light and buyers are well informed on specifics of the property before they commit to bidding. 

The cost of holding a property over time can sometimes be burdensome and potentially erode any equity of the asset.  Mortgage interest payments, taxes, depreciation, insurance, maintenance, security, management fees, repairs, assessments, and promotional expenses can wear down on a property owner. Most properties will be sold in an AS-IS sale. Sellers are required to fill out a Nevada state required form called the “Seller’s Real Property Disclosure” form as part of the due diligence package that will be provided in the Bidder’s package. 

Our auctions are viewed as “Events”, rather than offerings. In some cases, media cannot resist the story of the “possible wholesale opportunity” an auction can present. These stories are to extreme benefit of our sellers, as they (1) offer legitimacy to the Auction as they are presented as news and not advertisement, and (2) are in some cases, at no cost to the seller.

This allows the property owner to plan and strategize  for the future, without the uncertainty of when their property will sell. Potential buyers that may have been lingering in the marketplace are forced to react, as time, date, place, and terms are established, creating a sense of urgency to the marketplace. Being able to plan the day and time of a sale is of the utmost importance.

There will be predetermined dates for Buyer Inspections prior to the Auction. A Bidders Package will be compiled by our professionals and will be available and be a requirement for all prospective Bidders to obtain prior to the Auction. All Bidders are encouraged to perform any additional Due Diligence they desire on the subject property prior to the sale. The Buyer is given an opportunity to inspect each property on numerous, pre-determined on-site inspection dates and if desired, accompanied by their inspectors.

The Terms of sale will be discussed at length with the Seller and predetermined prior to the auction, providing the Seller complete control of the transaction. This process typically eliminates the typical negotiations associated with conventional transactions. 

Prospects are provided due diligence materials prior to Auction day. The Buyer is also given an opportunity to inspect each property on numerous, pre-determined on-site inspections individually or accompanied by their inspectors. A strong understanding of condition prior to Auctions leads to confident and informed bidding on Auction Day. 

Most properties are offered as “Cash Only” terms. While buyers are entitled to obtain financing for their purchase, financing will not be used as a contingency of the sale. Eliminating this contingency from the sale guarantees only the most qualified and confident buyers will participate in your Auction.

Buyers will have the opportunity to perform their own Appraisals, or Market Valuations and Due Diligence during the inspection period. 

Initial Bidder Deposits (to be determined per property) in guaranteed funds on Auction Day are required in order for parties to participate in the bidding. Once the Buyer’s bid is accepted, the Initial Bidder Deposit, which then becomes a Non Refundable Earnest Money Deposit, is then increased to a percentage (to be determined per property) of the Final Purchase Price no more than 2 business days after the auction to make the Total Earnest Money Deposit. The Total Earnest Money Deposits are substantial and insures that bidders are capitalized, serious, and qualified, while deterring the opportunity to default from contract and walk away.

Experienced Title and Escrow companies will provide the escrow and title services. They will provide the preliminary title reports as part of the Due Diligence for Bidder review prior to the Auction. Upon the Sale at the Auction, the fully executed Purchase Agreement and Earnest Money Deposit will be deposited into Escrow and the Title Company will provide the Title Insurance and conduct the “Closing”.

The “Buyer’s Premium”, will be a predetermined percentage of the High Bid Price to be paid by the Buyer over and above the Purchase Price. The “Buyers Premium” will be paid to Auction Company. All premiums will be advertised in the “Auction Terms of Sale” prior to Auction. 

Up-front Marketing and Advertising Cost. Our recommended marketing budget will be asset specific and depending on the market that we need to reach, will be designed to offer maximum Local, National and Global exposure. Our philosophy is that reaching a wide buying audience, in a greater geographic area, gives opportunity for highest and best price for the Seller. In the state of Nevada customary costs and closing cost are; Transfer Taxes, Escrow Fees, Title Insurance Policy, Recording Fees, HOA Documentation Fees and Broker commissions, etc. In some cases the Seller will pay the normal “Listing” commission as well as the Buyer paying the “Buyer’s Premium” as the Buyer’s Premium does not affect the Seller’s net bottom line.

All inquiries received from our massive marketing campaigns will be responded to from a member of the Auction Team, who are Nevada Real Estate Licensees with vast experience with the Auction process. Our Auction Team will answer all questions about the property, highlighting all prominent features of the property, as well as explain the Auction Process, and pre qualify the potential Buyer. The Team will also provide detailed feedback to the Seller pre auction.