As an investor and auctioneer, I sell properties at a reserve auction, usually it takes about three weeks of advertising, the auction takes place in front of the property and offered as is for all cash.
Many investor we represent don't own the property, they are controlling it and want to flip it while in contract for more, the assignment takes place next, this is where the profits are made.. Make sure you make full disclosures, have a built in extension and make lots of subject to re-assignment auction offers.
Hey I am a new wholeseller trying to give my clients other options then the low cash offer I give them on their house. I would like to auction off their properties so they get the return that they really want. I'll get my percent in commission of course. Is starting my own auction house or outsourcing the better/easier solution? If I outsource then what percentage should I ask from the auctioneer?
- Everything is negotiable!
- Unless you have had an education in the auction business and a license you would be better off using a profession real estate auctioneer.
- I would think you should focus on find and contracting properties that can sell for more to give you an attractive profit.
thanks, will look into that.