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5 months ago
5 months ago
If you are looking to put your property up for auction or looking to purchase land or a property from an auction, look no further. Start with Lashley Land to find land for sale and search for properties that will be listed for an auction. We have land auctions throughout the year on all types of properties.
If you are considering a land auction, start by contacting Lashley Land. We will discuss your property and your marketing needs. Then we will conduct a preliminary assessment of whether it is a good candidate for a land auction.
After being considered acceptable, our experienced specialist will inspect the property to determine the current market value and expected results. We will then make a presentation on what we will offer and answer all questions you may have about your land auction and land auctions in general.
Once accepted, you will enter an agreement with Lashley Land specifying date and location, additional provisions related to the sale and expected closing date for the sale. A specific advertising campaign will be implemented, which would include but not be limited to website, e-mail, direct mail, print media and radio advertising aimed to maximize the results.
Generally, a 6-week marketing window would be desired to give prospective Buyers the opportunity to obtain the needed information and financing to qualify as an able cash Buyer. In some instances, we may determine the need for a larger window depending on factors concerning the achievement of maximum results. As always, a thoroughly detailed plan will be presented to you for quality assurance.
Lashley Land will handle the transaction in a professional manner at a temperature controlled area that best suits the location. Buyers will be required to register to bid. Immediately following the event, the Buyer will be required to sign a purchase agreement and provide the necessary earnest money deposit. Closing will generally be in about 4 weeks from the open date.
THREE TYPES OF LAND AUCTIONS
This means that the property will definitely sell to the highest bidder with no reserve. It is the most common type nowadays due to the market value that agricultural land is experiencing.
Bids are taken only above a predetermined and advertised starting price. The advantage of this type is that it gives the Seller a level of security when selling… knowing that the least amount that it will sell for will be an agreed upon value.
This is conducted in normal manner. When bidding fully ceases, Lashley Land and the Seller will determine if it is enough to consider it sold. The Seller “holds all the cards” with this type, which sometimes can inhibit Buyer participation.
WHY CHOOSE THIS METHOD?
Agricultural Real Estate is one of the fastest growing auction areas in the industry. In choosing to sell by this method, you will reap the following benefits:
- Open and Closing Dates are predetermined; thus, creating a timelier period. This is effective when Seller requires a quick sale. This period can be as little as 6 – 8 weeks.
- Buyers present are prepared to buy. Most generally, it is the Seller that is unaware of the process. The Buyers are out there and ready to bid.
- This method creates a competitive bidding environment with the ability to produce a top selling price for the Seller. With proper advertising and research, Buyers attend the event with the proper knowledge.
- If the property is held in ownership by multiple parties, each owner will be fully aware of the actual date that it sells. This method eliminates the negotiation process, which can at times be lengthy, when trying to contact all owners with offers and counter-offers through a conventional private treaty method.
Contact Lashley Land for more information on our land auction process and put your property up for auction today!