Selling Real Estate at Public Auction

Why Sell At Public Auction?

A sale at public auction provides a great opportunity to sell real estate in a time-honored, unique process. Paul E. Saperstein Co. provides forty years of experience, connections and networking in the field and will use these resources to your benefit. Our highly trained auctioneers and staff will attend to your needs quickly and efficiently. Our people, resources and experience are at your fingertips.

The Pesco Advantage

Cost Efficient Marketing Programs. Pesco’s professionals are highly experienced and conduct auctions of residential, commercial, industrial properties of all types and sizes Pesco can provide advertising programs based upon other successful auctions. Experience in marketing properties for sellers in this fashion helps to reduce the seller risk in the auction process and maximize net realizable value from an auction sale.

Custom Designed Marketing Programs. A unique piece of real estate requires a tailored and targeted marketing program. Our marketing professionals have experience in all areas of the media. It is our job to design the broadest target marketing program to expose your property as widely as possible to the market.

Live Auctions Formats. Pesco professionals will tailor the auction format to best serve the property and you, the client. We evaluate each and every property on it’s own individual merit. We consider each property as unique and tailor the format that best fits the auction.

Unique Properties, Unique Buyers. Not everyone is a potential buyer of such unique properties. Potential buyers may not be located in a general regional area so special unique properties need to be broadly and intensely marketed to reach as many of the potential buyers as possible. By bringing these buyers together in the auction process, competition for your property can result in the highest possible realized price.

Timely Sales With Minimum Contingencies. A unique property can usually be completed within 90 days. The Pesco auction process is typically completed within 90 days from signing the auction agreement to cash proceeds in your bank. Auction contracts also generally contain far fewer contingencies than traditional real estate contracts.

For more information on how Pesco can assist you in the sale of your property, please contact Jeffrey Mann at Pesco or email us at jmann@pesco.com

Frequently asked Questions for the Seller

Why Should I sell my property using the Auction Marketing Method?
     Your Property will sell "as is, where is" subject to the sellers confirmation without contingencies to the highest bidder in an accelerated sale at the time, place and manner of your choosing.

What types of property do you sell?
     We sell all types of real estate by owners' choice such as single-family homes, condominiums, commercial properties, land parcels and everything in between.

What is the auction process going to cost me?
      The seller is required to invest in the advertising and auction expenses which will be predetermined along with a commission of the sales price which will also be determined.

I am not in financial trouble, what will people think if I sell my property at auction?
     You are not alone in your concerns. There are great differences in the marketing of a voluntary "by choice" auction and a distress auction. We create a positive, enthusiastic event designed to generate competitive bidding.

Will we still have to consider contingent contracts or negotiate a price?
     Everything that Pesco sells is "as is, where is" without any contingencies. The Auction Sale Agreement clearly states the property is being sold according to the contract and is not contingent upon anything or negotiable.

How will an auction benefit me?
Pesco will promote your property through a comprehensive marketing program that will include the optimum mix of the following:

        Property Information Packets
        Direct Mail Flyers
        Internet Exposure
        Auction & Classified Advertising
        Auction Sale Signs
        Open Houses
        Auction Day Staff

What are the seller benefits to sell at Auction?

        Creates competition among buyers
        Accelerates sales
        Auction prices can exceed the price of a negotiated sale
        An auction generates excitement and heightens buyer interest
        An auction creates the most exposure in the shortest period of time
        Eliminates high seller carrying costs, such as interest, taxes and maintenance
        Auctions bring interested buyers to the point of decision
        You plan the date you want the sale
        You set the terms and conditions of the sale
        An auction marketing plan eliminates numerous and unscheduled showings
        An auction saves you from the negotiated sales process