PinnacleHomeAuctions.com was created to address to
current needs of the economy and to provide a new competitive
advantage for real estate Owners, Developers, Builders and Agents to
quickly move properties listed on the market through a dedicated auction process.
PinnacleHomeAuctions.com offers partnership opportunities and specializes
in the Agent / Broker Listed Properties auction event dedicated to pairing
up Agents and their clients with qualified Buyers.
Comprehensive Agent Training
Compelling materials and tools to
engage your sellers
Formulated property nomination
selection process
Extensive pre-auction public
relations campaign
Strategic media placement and
promotion: Internet, Outdoor, Print and Radio.
Auctions are live and simultaneously available online for real-time
bidding. PinnacleHomeAuctions.com can be accessed 30 days prior
to a scheduled auction event as inventory is added and walk-thrus for
specific properties are available to the public.
AUCTION PROCESS
A real estate auction is the sale of real estate property
offered “As-Is” and “Where-Is” for the fair market value, using a competitive
bidding process. “As-Is” is a legal term and concept used to disclaim liability
for an item being sold "As-Is” denotes that the seller is selling, and the
buyer is buying, an item in whatever condition it presently exists, and that
the buyer is accepting the item “with all faults,” whether or not immediately
apparent.
Marketing Plan
A powerful benefit of auctions is a strategic,
accelerated and comprehensive marketing plan. The marketing program is
custom-designed to the demographics of the market and the profile of the
properties being offered. Marketing efforts typically begin four
weeks prior to the auction date.
Property Catalog
The property catalog is a comprehensive document that outlines important
details of the properties at auction, contains the Terms and Conditions of the
auction and describes how the auction will be conducted. By providing
this information, bidders are given the confidence to participate in the
auction possibly resulting in a higher sale price for the seller. This catalog
is provided to all potential buyers.
Start of the Auction
The auction begins promptly at the appointed time with
opening remarks summarizing the terms of sale, the methods of bidding, and any
last minute changes or disclosures. These comments usually take only a few
minutes. Then the auction begins!
Working with the Bidder
Assistant
The Bidder Assistants are auction staff members who are positioned among
the auction attendees to help all bidders communicate their offers to the
Auctioneer. Bidders place a bid by raising their bidder card. Any tie bids or
other issues regarding who has the high bid are always resolved by
the Auctioneer, who has complete and final authority.
SOLD!
From the first bid, things move quickly with bidders offering their bids up
to the price they are willing to pay. When it is determined that the
final bid has been made, the Auctioneer will identify the high bidder and the
final bid price. The purchaser simply executes the Real Estate Purchase
Agreement and makes the required Earnest Money Deposit. In a
"subject to confirmation" auction, the seller retains the right to
accept or reject the high bid within a specified time after the auction.
Closing
Closing on the property typically takes place within 30-45 days from the date
of the auction. Closing is not contingent on financing, appraisals, or
inspections.
