Christy's conducts many online auctions from small estates to large business liquidations.
There are 3 types of online auction that Christy's conducts:
1. Online Only Auctions
The bidding is taken online with a set closing time. Most online auctions have a staggered lot closing meaning that lots close in order with a set time between each lot.
2. Absentee Bidding
An online auction where the bids placed online will be brought to the live auction as an absentee bid. This auction usually closes before the live auction begins.
3. Simulcast or a Live/Online Auction
An online auction that takes place during a live auction with an online operator relaying the bids to the auctioneer. These auctions are a cataloged auction and usually follow the lots in order.
REAL ESTATE SERVICES:
Christy’s of Indiana, Realty division is a full service Real Estate Company.
1. Real estate is marketed to obtain the highest value.
2. An individual analysis is conducted to determine if a private listing or a real estate auction will be the most beneficial for the seller.
3. A comparative market analysis is conducted to establish value in a targeted area.
4. A seller may also want to provide a home owner’s warranty to better market their home.
Christy’s Realty employs real estate brokers who will obtain all state-required disclosures, placement of signage and advertising, order preliminary title search to assure clean transfer of title, conduct showings and open houses, execute purchase agreement and other required documents, coordinate and assist with closing procedures.
REAL ESTATE AUCTIONS:
A real estate auction is an open forum, which allows for oral bidding. After the bidding is exhausted, the property may be declared sold. The buyer and seller will complete a purchase agreement and follow the necessary steps to closing. The property is sold as-is and buyers to pay closing costs.
Reserve Auction: Property sells with the owner’s confirmation. The minimum or reserve amount is not disclosed to the public. When the bidding is exhausted, the auctioneer will take a short recess to discuss confirmation with the seller.
Absolute Auction: Property is sold to the highest bidder, regardless of price. This is an excellent marketing tool in selling property.
There are many advantages to selling your home by auction:
1. Eliminates long term expenses, such as taxes, maintenance and insurance.
2. The competition of live bidding will realize the property’s true market value.
3. Asking price is eliminated to avoid overpricing property. Overpricing may create little or no interest in the property and will eventually sell for less than the property is worth.
4. Fast sale of property versus months or years of waiting to sell through traditional listing.
5. Auction forum creates motivated buyers to act quickly, creating a sense of urgency.
6. Cash transactions may close within one week after auction.
7. Marketing is targeted to seller’s property, not multiple listings.
8. Property sells AS-IS, therefore, no negotiations on repairs or inspections.
9. Conditions of sale are given prior to the auction allowing no negotiation on terms or no contingencies from potential buyers during auction.
10. Buyer’s Premium helps offset seller’s cost of selling home.
Broker Participation: Christy’s Realty encourage all real estate agents to participate in the auction process. We offer compensation to agents whom represent a buyer in the transaction. Christy’s Realty also co-ops with other agents from different offices to assist with their real estate auction needs.