There’s so much involved in the land auctioning process. You must find a reliable team who knows what they’re doing to assist you. At Crosby & Associates, we have the knowledge required for a successful sale. Read through our resourceful guide on how land auctions work. This brief article will give you a better idea of what to expect from the experience.
Different Types of Land Auctions
One of the reasons why it’s better to partner with a trusted team is because there are different types of land auctions. It can be confusing if you aren’t familiar with all the terminology—learn more about each category.
Minimum Bid Land Auctions
Minimum bid land auctions are great for sellers. In these land auctions, there’s a minimum bid that all prospective buyers must be able to pay if they win. Sellers love these auctions because prices typically increase at a rapid pace since there’s a minimum price established.
Absolute Land Auctions
Sellers that want to get rid of their land quickly prefer absolute land auctions. Absolute land auctions require no minimum bid, so they’re open to whoever wants to attend. Absolute land auctions are great for prospective buyers because they’re more likely to get the land at a discounted price.
Repossessed Property Land Auctions
Repossessed property land auctions occur when the bank has reclaimed the land. Typically, the amount that the previous owner still owes on the loan serves as the minimum bid.
Make Sure to Market
Now that you understand the different types of land auctions, it’s important to go through what happens at these events. The number one thing to remember with land auctions is to market them. We here at Crosby & Associates can help you do just that. With the help of our friends and Murray Wise & Associates, we work tirelessly to market your land auction. We make sure that only serious prospective buyers show up, so no one wastes their time. Once we have a list of potential buyers, we set a time and date, and it’s off to the races.
Trust the Experts
No one should go through the land auction process alone. Anyone who wants to sell their land should look no further than Crosby & Associates. Our team of experts will be able to guide you through the entire process. We specialize in land auctions in Florida and Georgia and will be with you every step of the way. Our team upholds transparency and will be upfront with you as we work exhaustively to make sure your land sells for a high price. If you have land you want to sell at auction, please contact us immediately.