Auctions are a great option for selling property. There are 2 types of auctions which are the more traditional, in person auction, or online option. Auctions are not only for homes and land but for personal property too. Untied Country Blue Ridge Land and Auction had a traditional personal property auction a couple weekends ago for farm equipment. If you are thinking of selling your home or land, why should you consider an auction? Here are three reasons to consider an auction:
1 - Distress sale
2 - High demand property
3 - Unique or special property
Distress sale is a motivated seller who needs to liquidate, whether this is forced by the bank or personal life situations. In other words, the home, land and/or personal property needs to be sold quick. Auctioning helps speed up the process instead of a traditional listing.
High demand property can be considered limited inventory and a seller’s market. This sound familiar? It is no secret that the current housing market is a seller’s market and there continues to be limited inventory. The market may shift however at current the market continues to be a sellers’ market with limited inventory. A high demand property may also be an attractive property of which there is no inventory. This can also be considered a unique or special property which is another reason to consider an auction.
A unique or special property is considered a home or land that is not common to the area. Such as level land in Floyd County with fencing, barns and ready for farming. Another idea is large tracts of recreational or hunting land with food plots, hunting cabin and trails. This can be a commercial property as well such as storage units, convenient stores, restaurants, apartment buildings, etc. The property has special characteristics to it such as large acreage, views, water frontage, large hunting property, large recreational property, etc.
Levi Cox – Realtor with United Country Blue Ridge Land and Auction will help you determine if an auction is a great option for you. Give him a call today at 540-230-7162! His website, levicoxrealtor.com, is a great way to look at properties Levi currently has listed and another option to contact him.
Until next time, enjoy your little piece of the country and choose to #listwithLevi.
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