A real estate auction is an accelerated method of selling property to a pre-qualified buyer who will name his or her own price. The successful buyer has the knowledge that they did not over-pay for the property, as another party was willing to pay slightly less than the high bid.
Informed buyers attend auctions to acquire property in an efficient manner. The establishment of set sale and closing dates eliminates long negotiation periods. When attending an auction the potential buyers know that the property will be sold on the day of the auction, at a price they determine.
You Determine the Purchase Price
Each potential buyer has an equal opportunity to assess the property and determine the price he or she is willing to pay. As a potential bidder, you will have the opportunity to review all pertinent information compiled by our company prior to the auction. As the successful bidder, you will find comfort in knowing that you did not overpay, your winning bid was only one bid increment more than another party was willing to pay.
Maltz Auctions maintains 97% sale rate, illustrating the commitment of our sellers. Rest assured, when we market an auction property, the high bidder typically closes on the sale 30 days after the auction without any contingencies.
Each property is designated its own section on our corporate web site. Within this section, all available and relevant information for each respective property is available. Print brochures are available for most properties.
Almost every property is available for your personal inspection prior to auction. All real estate is sold on an “as is, where is” basis, placing the responsibility to inspect the property on the buyer. It is highly recommended that you hire a professional to conduct an inspection of the premises prior to auction. We will have representatives at each inspection to answer any questions you may have.
Each of our upcoming auctions have specific “terms and conditions of sale” which are located on their respective web pages. In order to register to bid, a certified check must be made out to the appropriate party, as specified by the auction specific terms.
We typically begin registration at the auction location one hour prior to the scheduled auction time. At this point, our staff will be available to answer any of your remaining questions or concerns.
Ask all questions prior to commencement of the auction.
Determine, in your own mind, the amount you are willing to pay under various scenarios.
Be prepared for the fast-paced action and to quickly and affirmatively signal your bid. Do not miss a great purchase opportunity by waiting too long to enter your bid.
Congratulations, you are the successful bidder! Immediately following the auction, you will meet with Maltz Auctions representatives to complete the necessary documents. Generally, within 48 hours after the auction, your total deposit must equal 10% of the high bid, plus the buyer’s premium (if applicable).