Virtually any type of property sells better at auction than any other type of sale. As many have discovered, farms, farm equipment, heavy construction equipment, and fine antiques and art have always sold best at auction. Because auctions have developed such a great public reputation in the past few years, almost every type of commodity is now being sold successfully at auction.
Definitely not! In recent years the auction industry has shed the old idea of “distress only” sales. While a percentage of auctions are still held due to bankruptcy and other financial emergencies, the auction method has been found to perform as well and even better in ordinary sales situations.
Liberty Realty & Auction uses proven marketing methods, consisting of signs, flyers, television ads, local news ads, and Internet website advertising. With larger sales, we also advertise with monthly trade publications, magazines, national newspapers and through mailing campaigns.
No. You retain the right to accept or reject the highest bid. However, you should know that “Absolute Auctions” which guarantee the property to sell, break more attendance records than other auctions, which greatly increases the final selling price. Hiring an experienced company such as Liberty – who will provide you with a proven, professional auctioneer and thorough, consistent marketing – will ensure you the greatest success on Auction Day.
There is a way to conduct an auction sale that’s free to the seller. This is accomplished by having a sale with a buyer’s premium. All of the costs associated with the sale are paid for upfront by Liberty, and we collect our sales commission, advertising expenses, survey costs, title opinion and any other related expenses from the buyer at closing. All expenses are spelled out in our contract between the seller and Liberty. Therefore, there are no surprises for the seller at closing. This method allows for no cash out lays on behalf of the seller, and is used for absolute auctions.
We also conduct auctions for a flat fee. In the event the seller decides not to sell the property, the seller still owes Liberty the fee at the conclusion of the auction. Once again, all conditions of who pays what are spelled out in our contract. Some sellers of large properties view this method as an effective means of budgeting and cost savings.
A set commission due at closing is the choice of many sellers. A sales commission is agreed upon by Liberty & the seller. Our commissions are set based upon the value of the property being sold and we are very competitive.