ACCREDITED AUCTIONEER OF REAL ESTATE

CERTIFIED ESTATE SPECIALIST

  Get the peace of mind that comes from knowing everything is being taken care of professionally by an experienced auction firm.

If you have real and or personal property to dispose of, contact
H.D. Wilkinson & Company for a professional resolution to your problem.

Auction FAQ's

Why would a seller auction property?  Mainly because he or she is a serious seller who wants to sell the property in a timely fashion and at minimal or no costs.  Auction sales are typically "as is," little or no closing costs, no commission, no contingencies and 30 day closings.  In buyers' markets where marketing time on brokers listings can run six months to a year or more with contingencies and inspections and loan approvals, auction sales provide sellers with a highly desirable alternative. 

Does the seller pay for having an auction?  Very little.  We represent the seller and there is typically no commission to the seller in a real estate auction, though sellers do pay for advertising and in some Florida counties for buyer's title insurance.  The buyer pays for all other closing costs and a 10% buyer's premium. 

Are the terms always the same in real estate auctions?  Mostly, yes.  The buyer agrees to pay a 10% buyer's premium and to close the transaction for cash within 30 days of the auction date, which also becomes the contract date.  Real estate sold at auction typically is sold "as is where is" on the day of auction.  Some sellers will consider seller financing.

How do you know if people attending auctions are serious buyers?  Bidders at auctions register with the auction clerk and are given an identifying number after they have presented a cashier's or certified check in an amount that is approximately 10% of a bidding range.  The high bidder deposits 10% of the contract price (contract price is the high bid plus 10 percent of high bid) on auction day and closes 30 days later.    

What if no one comes to the auction?  With proper and well placed advertising during the month prior to the auction, interested bidders always show up to compete for a property they have researched, previewed and decided to buy.

Why would buyers buy real estate at auction?  They know from experience or intuitively that auction buying is one of the best ways to buy.  The process is quick, clean and unfettered.  Successful auction buyers have the desire and money to buy and close quickly on a property.  They don't attend an auction unless they have done the research on the property and unless they have or are willing and able to raise the cash needed to close in 30 days.

What is an "absolute" auction?  During an absolute auction, the property will be sold to the final and highest bidder regardless of the amount of the bid.

What is a "reserve" auction?  In a reserve acution, the highest and best bid is submitted to the seller who has the right to reject or accept it.  Property is auctioned on a reserve basis unless it is labeled as an absolute auction.  

We provide the firm and time-defined sale of real & personal property by competitive bid.

H.D. Wilkinson, AARE, CES
Auctioneer/Lic. RE Broker
AU3665 BK451641

email: info@hdwauctions.com

Phone: 877.701.5115

file:///C:/Users/HD/Desktop/Color%20Ad.pdffile:/


Auction Guide - The Internet Guide to Auctions and Auctioneers WorldWide