If you are looking to put your property up for auction, or to purchase land or a property from an auction, look no further. Lashley Land will help to search land that is for sale and for properties that will be listed on auction. We have land auctions throughout the year on all types of properties.
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Farnam Half Section Absolute Auction
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The Auction Process
If you are considering a land auction, start by contacting Lashley Land. We will discuss your property and marketing needs. Then, we will conduct a preliminary assessment on your property to see whether it is a good candidate for a land auction.
After your land is considered acceptable, our experienced specialist will inspect the property to determine the current market value and expected results. We will then present 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, plus the additional provisions related to the sale and expected closing date. A specific advertising campaign will be implemented aimed to maximize results including, but not be limited to, website, e-mail, direct mail, print media, and radio advertising.
Generally, a 6-week marketing window is desired to give prospective Buyers the opportunity to obtain the needed information to obtain the financing to qualify as an able, cash Buyer. In some instances, we may determine the need to enlarge the marketing 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 is generally 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 of auction is that it provides the Seller a level of security, knowing that the property will sell for the 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 of auction, which sometimes inhibits 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, especially 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!