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Will The Feds Make the Lenders Whole?
10 November 08 02:16 PM | realestateauctions | with no comments
Recently, I received a few calls from some real estate investor friends of mine here in North Carolina venting their frustration with working out short sales with some lenders. It seems some lenders are stalling in making any decisions as to whether they...
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Passive Seller vs. Motivated Seller
03 June 08 09:00 PM | realestateauctions | with no comments
We receive calls from homeowners who are considering an auction as a method of selling their home. These potential auction sellers will basically fall into two categories: a passive seller or a motivated seller. The passive seller has a predetermined...
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What is a Ringmen?
29 May 08 02:58 PM | realestateauctions | with no comments
I recently went to a large auction out of curiosity. I didn’t bid but just watched. I saw men and women jumping around, moving among the crowd, yelling, “Yes” or “Yep” or something to that affect, flinging their hands up...
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Consignment Auctions
14 May 08 08:31 PM | realestateauctions | with no comments
Consignment Auctions My mother recently passed away and left her home and furnishings to me. My husband and I want to move into the home but we do not need all the furnishings. I don’t want to do a “yard sale” as I feel some of her things are of value...
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Do I need an Auctioneer?
12 May 08 05:42 PM | realestateauctions | with no comments
Do I need an Auctioneer? I own my home and have been thinking about selling it and moving to another state. I have talked with several realtors and just can’t get excited about listing my home with them, especially in today’s real estate market. I need...
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Using Credit Cards at an Auction
10 May 08 08:50 AM | realestateauctions | with no comments
Ron, I recently attended an auction in another state while on vacation. There were some nice pieces of furniture that were being auctioned. The auctioneer stated before the auction that they would accept credit cards for payment but they would charge...
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AUCTION VALUE vs. MARKET VALUE
07 May 08 08:35 PM | realestateauctions | with no comments
How does auction value differ from market value? The differences between auction value and market value stems from the auction process itself. By this, I refer to several characteristics which are more dominant in the auction process than in the ”list...
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What is an “owner confirmation” auction?
06 May 08 10:14 AM | realestateauctions | with no comments
I recently attended a real estate auction whereas the auctioneer stated that the winning bid would be “subject to the owner’s confirmation.” Was this really a “reserve” auction? There is really no difference between selling real estate at an auction with...
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What is a Buyer's Premium?
04 May 08 05:23 PM | realestateauctions | with no comments
The use of a buyer’s premium is a way of paying the Auctioneer for his or her services. The buyer’s premium shifts the payment of the Auctioneer’s commission from the seller to the buyer at auction. The buyer’s premium is a fixed percentage of the sales...
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When is an Auction not an Auction?
03 May 08 09:55 AM | realestateauctions | with no comments
Over the past six months or so, I have noticed an increase in the ads in the paper about auctioning homes. Here in the state of North Carolina, you must list your auctioneer license number in the advertisements and the property owner along with the terms...
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Selling Before the Foreclosure Auction Date
30 April 08 04:40 PM | realestateauctions | with no comments
A local realtor recently called me about a home she just visited. The bank is foreclosing on this property in about 45 days. The courthouse auction date had already been set. She wanted to know if she sold the property prior to the foreclosure date, would...
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Auction Fun Facts
29 April 08 07:55 PM | realestateauctions | with no comments
I thought some of you might be interested in these facts concerning auctions: A. Revenues in the live auction industry grew by 5.3% in 2007 over 2006, continuing a growth trend of recent years. B. An “auction preview” is an open house when the public...
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California foreclosure "surge": Up 327% from '07 levels:
28 April 08 03:32 PM | realestateauctions | with no comments
I just read an article in the Los Angeles Times the other day that foreclosures are at an all time high. According to DataQuick, just in the first quarter of this year, foreclosures increased 327% from a year ago. DataQuick president Marshall Prentice...
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I Sell Real Estate, Not Personal Property!
28 April 08 02:38 PM | realestateauctions | with no comments
I Sell Real Estate, Not Personal Property! Have you had one of those rare occasions that a client calls you and says something like, “Mom called a few days ago and said my Aunt Edna died last week and that my husband is the executor of the estate? My...
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Selling Homes by Auctions
21 April 08 09:33 AM | realestateauctions | with no comments
How would you like to sell your home in 30 to 60 days, receive a contract without any contingencies? Have you started packing yet? Hi, my name is Ron Taylor. I'm a real estate broker and auctioneer here in the state of North Carolina. Prior to becoming...
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