Frequently Asked Questions
I always thought that auctions were for distressed properties and I don’t want anyone to think I am in a distressed situation. Is auction the right idea for me?
Auctions can be useful for anyone who wants to get their property sold and closed in less than 60 days. Waiting around to see if a buyer comes to you is timely and expensive. By implementing an aggressive marketing campaign Apex is able to bring the buyers/bidders to a one day event that eliminates the hassle of showing the property multiple times and waiting for a contract. Getting buyers/bidders into a competitive situation many times can bring above fair market value.
Why should I sell my property using the auction method?
The auction method accelerates the sale of your property by generating additional consumer interest and activity. Non-contingent contracts and projected thirty day settlements are required of all buyers of auctioned properties. This means a quick transaction for you!
When will my auction be held?
The advantage with the auction method is the seller has the right to choose the date and time of their auction at their convenience. One of the many reasons auctions are so effective is that your property is exposed to a wide variety of potential buyers on a set auction date.
What does the term 'reserve' mean?
In a reserve auction, the auctioneer will submit the highest bidder to the seller. The seller then has the right to accept or reject the bid, it is subject to the "seller's confirmation."
What does the term absolute mean?
Absolute means the property will be sold to the highest bidder. There are no minimums or reserves in an 'Absolute' auction; it will sell regardless of price. Some auctions will have certain parcels to be sold absolute while others are offered with a reserve. Please check with the auction team for the details of each auction.
Do I need to pre-qualify?
No. We do not require any pre-qualification to bid. As a suggestion, if you intend to obtain financing, you should pre-qualify with a lender.
Can I attend an auction before agreeing to sell my home through the auction method?
Certainly! It is strongly recommended that you attend a live auction and experience the process first hand. Simply speak to the auctioneer about an upcoming schedule of auctions in your area. We look forward to seeing!