We Do Real Estate the Auction Way!
At Taylor Auction & Realty in Marion, IL, our commitment to innovation extends to the real estate sector in over 21 states. A real estate auction is selling real property, such as homes, commercial buildings, land, or investment properties, to the highest bidder in a competitive and transparent process.
Call us at (618) 944-0086 to learn how.
Taylor Auction & Realty's Advantage To Selling Your Property
Sellers may choose to auction their property for various reasons, including a desire for a quick sale and a competitive bidding environment to maximize the property's value. Auctioneers or auction companies are typically responsible for organizing and marketing the real estate auction. They promote the auction through various channels to attract potential buyers, including advertisements, listings on real estate websites, and local media.
During the auction, registered bidders compete by placing bids on the property. The auctioneer sets a starting bid, and participants offer increasingly higher bids until there's a winning bidder. The property is sold to the highest bidder once bidding surpasses the reserve price (if one is set).
The reserve price is the minimum amount the seller will accept for the property. If bidding doesn't reach or exceed the reserve price, the property may not be sold at that auction, although the highest bidder may still have the opportunity to negotiate with the seller.
