In an auction setting, what are the advantages to the buyer?
• The seller is comitted to selling. • The property is sold at a fair market price. • The auction situation translates to negotiating power for buyers. • Buyers may have a choice of several properties at once. • Buyers can set their own purchase price. • Long negotiation periods are eliminated. • The time it takes to purchase property is reduced. • Because purchasing and closing dates are known, buyers do not need to worry about contingencies. • Property owners sell at the lowest price possible. • Financing may be available to buyers.
