AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,000

[P.A.G.]

89 Palmeira Way, Lot 21, Lot 23, and Lot 28 are being offered by auction on October 13, 2007 at 1:00 pm. We have set a new published minimum bid of $750,000 for this property. Any bid of $750,000 or more will be accepted and property will be SOLD. Please view our website for more information.

The Premier Auction Group

http://www.thepremierauctiongroup.com/auction_detail.php?auction_id=368693&ID=368693

PRE-AUCTION OFFERS ARE ENCOURAGED AND WILL BE PRESENTED.

 

[P.A.G.]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

Any opinion on this published minimum bid of $750,000? A 10% buyers premium will be applied.

 

[SHELLY]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

Any opinion on this published minimum bid of $750,000? A 10% buyers premium will be applied.

What/when did they initially pay for the properties?

What was the price they asked for selling it the "normal" way?


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[P.A.G.]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

The sellers are the builders of this home so there is no original purchase price for the house. The home was last listed for a short period of time at $899,000 and previously at $995,000. We sold the last home in Palmeira at auction for $930,000.

 

[P.A.G.]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

This board is usually such a great place for feedback...I know there has to be more opinions out there.

 

[SHELLY]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

This board is usually such a great place for feedback...I know there has to be more opinions out there.

Personally speaking, I think housing "auctions" that have a "minimum acceptable bid" is no auction at all, it's more like an Open House with Floor Runners getting in your face.

BTW, how many people did you have touring the house during the preview/inspection dates?




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[P.A.G.]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

We've had about 15 or so tour the property. Many auctions, regardless of what is being auctioned, have a minimum.

 

[SHELLY]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

We've had about 15 or so tour the property. Many auctions, regardless of what is being auctioned, have a minimum.

I understand about auction reserves for rare and collectable items (that people really want) is pretty much the norm , but in the case of house auctions, having a reserve price hasn't been as successful as the owners' had hoped.

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[P.A.G.]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

I can agree with that. A lot of the time the reserves are set at unreasonale amounts. In this case, I don't believe that we are working with an unreasonable amount. If the final bid was $750,000, that would make the total purchase price $825,000. That would be $105,000 less that what we sold that last home in there for and $295,000 cheaper than the lowest priced active listing in the subdivision.

 

[bdc63]

Re: AUCTION - Palmeira Villas of Seagrove Beach - NEW published minimum bid of $750,0

Since you asked:

The property was most recently listed at $899K, and now the minimum bid (with fees) that you would accept at this one day auction is a whopping 8% below that.

In my opinion, in this market that is joke. Why are you allowing these sellers to waste your time?