Benefits to the Seller:

All buyers come prepared to buy

Auction properties are sold “as-is”, with no contingencies or warranties expressed or implied

Accelerated disposal reduces long-term carrying costs, including taxes and maintenance

Assurance that property will be sold at true market value

Exposes the property to a large number of pre-qualified potential buyers

Accelerates the sale of the property

Creates competition among buyers—auction price can exceed the price of a negotiated sale

Requires potential buyers to pre-qualify for financing

The seller knows exactly when the property will sell and close

Takes the seller out of the negotiation process

Ensures an aggressive marketing program that increases interest and visibility