Premier Absolute Auction - May 5, 2007

[P.A.G.]

Premier Auction Group will be holding an absolute auction May 5, 2007. The properties will consist of Lot 1 and Lot 2 Chivas Ln. and a duplex at 156 Chivas Ln. one lot away from the gulf. Both lots allow for 2 dwellings each. More information and pictures to come. This will be an absolute auction.

Premier Auction Group
850-622-3247
www.thepremierauctiongroup.com

 

[P.A.G.]

Here are a few pictures. More to come soon.

 

[P.A.G.]

Very close to gulf!

 

[bdc63]

Hi PAG

A few questions for you about these properties:

Are these properties in a development with an association? If so, what are the fees?

Is the entire duplex for sale, or just half of it?

From the pictures, I believe those are down by Beachside Condos ... do you know the elevation of the property?

People have been using the term "absolute auction" pretty loosely lately. Can you please confirm that there is no reserve, and that all three properties will absolutely sell on auction day (none of this pull your properties and go home if you don't like how the first sale turned out?).

Thanks in advance for your response.

 

[SHELLY]

Hi PAG
People have been using the term "absolute auction" pretty loosely lately. Can you please confirm that there is no reserve, and that all three properties will absolutely sell on auction day (none of this pull your properties and go home if you don't like how the first sale turned out?).

Good point, what about it Spence?


.

 

[Babyblue]

Here are a few pictures. More to come soon.

I almost bought that house from the owner, many years ago.

 

[sberry123]

Good point, what about it Spence?


.

Absolute means no reserve, the highest bidder gets the property. This reserve price is for the birds. Oh, I may sell my property if you meet my special price that you do not know about. Almost as bad as reservations. Buyer: I might want to buy at that price so I will reserver a unit. Seller, I may want to sell the unit to you at that price, I am just testing the market, I may raise my prices. In my opinion, reservations are a waist of time and auctions that are not absolute are a waist of time. :!:

 

[Smiling JOe]

I have seen "absolute auctions" where buyers had to submit secret opening bids to begin the bidding. I don't think absolute really means absolute. From what I understand, absolute is supposed to refer to only the property not having a reserve price to meet. Other than that, the seller can pull the property any time up to an opening bid being made. If you are going to fly down here to get a chance to be the winning bid on an absolute money, plan on staying long enough to take a vacation to make it worth the trip, otherwise, bid on the phone and don't leave home. ;-)

 

[P.A.G.]

bdc63,

The subdivision is Walkover Dunes. We're still waiting on our information, but I don't believe there are any fees. Both sides of the duplex are for sale. As far as elevation, that too, I'm not sure of. These properties WILL sell on May 5 regardless of price. If anyone would like to register as a bidder, please call the office. We require $10,000 in certified funds or a bank letter of credit to bid.

 

[jimmyp5]

Questions about reserves, sealed opening bids, the meaning of "absolute" ... it all points up the negative, cheesy aspects of auctions for real estate.

IMO, it's the sign of a market that still needs adjustment, people that need more patience, or people that need to realize that some get in/get out investments don't double in value overnight. IMO, it's not the situation we want here, people, and the sooner the auctioneers and their self-described "luxury" auctions are gone, the better off we'll all be.