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Buyer Benefits @ an Auction

The buyer knows the seller is committed to sell. Auction agreements obligate the seller to transfer title to the highest bidder in an absolute auction. The auction agreement obligates the seller to transfer title to the highest bidder that meets or exceeds the reserve price in a non-absolute offering. The buyer knows he/she is getting the property at a fair market price. The buyer feels comfortable with the purchase knowing that there is a contending bid just one increment under the purchase price. In summary:

  • Buyers set their own purchase price.
  • Buyers see "the market place" take shape with comparative bidding.
  • Auctions reduce the time to purchase property by eliminating sometimes long negotiation periods.
  • Buyers do not have to worry about variable contingencies because they are spelled out in the terms of the auction, i.e. closing costs and dates (these terms are the same for all bidders – level field for all players).

Granger, Thagard & Associates, Inc.
1806 Oxmoor Rd, Birmingham, AL 35209
205-326-0833 / 205-803-4104 fax
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Real Estate Auction Company, Residential and Commercial Real Estate, Multi-Parcel Land Auctions