Why Auctions


Benefits of Selling at a Chisum Real Estate Auction


ü  Seller establishes the terms of the sale prior to the auction, which typically includes: “As-Is, Where-Is, and With-All-Faults”, “cash only”, and “with no contingencies of any kind permitted”


ü  Eliminates prolonged negotiations by removing the seller from the process


ü  Creates a sense of urgency amongst the buyers


ü  Exposes the property to targeted pre-qualified buyers that are prepared to buy


ü  Sells the property within a relatively short period of time reducing long-term carrying costs, including taxes & maintenance


ü  Eliminates the guesswork associated with determining an asking price


ü  Creates competition among buyers. The auction price can exceed the price of a negotiated sale


ü  Assures that the property will be sold at true market value


ü  Reduces the number of open houses and individual showings


ü  Ensures an aggressive marketing program that increases interest and visibility


Benefits of Buying at a Chisum Real Estate Auction


ü  Smart investments are made as properties are usually purchased at fair market value through competitive bidding


ü  The buyer knows the seller is committed to sell


ü  The buyer determines the purchase price


ü  In multi-property auctions the buyer sees many offerings in the same place at the same time


ü  Auctions eliminate long negotiation periods reducing the time necessary to purchase property


ü  Purchase and closing dates are known


ü  Buyers know they are competing fairly and on the same terms as all other buyers


ü  Buyers receive comprehensive information on property via due diligence packet