More auction stuff....

[Smiling JOe]

If you are a "seller " at an auction and it doesn't sell do you still have out of pocket expenses to the auction company? If so how much? Thanks.

Good question, ecopal. I think I have asked it before, but maybe I just assumed that the seller would have to pay the advertising expenses and some other handling fee. However, that may not be the case, since it is not typical when you list a property with most Realtors. The Realtor absorbs the costs.

Maybe I should start charging advertising fees for properties which expire before selling.

 

[yippie]

I spoke with the people at Roebuck Auctions and they insist that there are no out of pocket expenses for the seller. The buyer pays all.

 

[ecopal]

What if the property doesn't sell at the auction and there is no buyer?

 

[yippie]

They said nothing lost, nothing gained.

Sounded a little "too good to be true" to me, but I dunno

 

[InletBchDweller]

I spoke with Roebuck Auctions and they told me that the seller paid for the advertising which could be up to $10,000!!! The buyers pays for the commission...

 

[Pirate]

If the sale price shows up will you let us know SJ? Thanks.

 

[Smiling JOe]

If the sale price shows up will you let us know SJ? Thanks.

They have not shown up in ECAR's listings of auctions and probably never will. It is easy enough to check the Prop Appraiser's site if you know the address. Around here, they run a bit behind, but it will show up eventually.

 

[tariail]

Anyone know of any auction results for single detached houses in S. Walton in the last few months, or anywhere to get statistics? Sales versus no sales, and prices sold for.

Thanks!

 

[Smiling JOe]

Anyone know of any auction results for single detached houses in S. Walton in the last few months, or anywhere to get statistics? Sales versus no sales, and prices sold for.

Thanks!

There is a category in the local Realtor Association listing to list the auction properties, but I have seen only a couple listed in there. If they were doing well, this data might get posted by the auction companies. Auctioned properties get some exceptions to the rule regarding listings. To find out which properties sold /didn't sell, you would have to keep track on the companies' websites.

 

[Smiling JOe]

Roebuck Auctions must have been reading this board. They just listed two auctioned properties as sold.

Westwinds Condo in Sandestin, a 2/2 @ $929,500 ( I still don't understand why it took 28 days after the auction to close this unit)

and the above 3bd/2.5 ba townhome in Sandestin @ $505,000.