Doesn’t the auction method usually suggest a distressed sale?
Absolutely not! In recent years the popularity of competitive bidding has exploded to an estimated $50 billion in annual sales. Fortune 500 companies including McDonald’s, Kmart, Wal-Mart, Chevron and Exxon utilize competitive bidding because they know it is the best way to achieve the highest price in the shortest time. Estimates show that over 30% of all real estate in the U.S. will be sold using accelerated marketing by the turn of the century. Government agencies such as the RTC, FDIC, U.S. Customs, U.S. Marshals Service and the S.B.A. all use the accelerated marketing method.
