Auction Buyers Guide Nicole Surber

© 2014 RealEstateAuctions.com All Rights Reserved
Buying Real Estate?
Use an Auction For the Best Results!

There’s been an explosion of auction
popularity in recent years
•  Online merchandise auction sites
•  Popular TV shows focused on auctions
Did you know that in many countries around the
world, auctions are the preferred way to buy and
sell real estate?
Our international friends in Ireland, Australia and
some nations in Asia have long taken advantage
of all the benefits of real estate auctions. You can,
too.

When buying real estate, would you like:
•  The transparency of seeing other competing offers?
•  No negotiation period?
•  The ability to fully inspect your potential purchase?
•  A set date of sale?
•  The opportunity to get a good deal?
•  To eliminate the seller and broker from any decision making?
•  To eliminate broker favoritism?
•  To eliminate discrimination?
•  To eliminate the (behind the scenes) process traditional real
estate adopts when making an offer?
Then Choose a Real Estate Auction!

Auctions vs. Traditional Sale for Buyers
AUCTION METHOD
Known date of sale
No buyer/seller negotiations
Open, fair bidding. No “best-guess” offers
Bidders determine Fair Market Value
Buyers receive comprehensive due-diligence information
Set closing date, usually 30 days or sooner after the auction date
TRADITIONAL METHOD
Sales process may take weeks or months
Negotiations are often the sticking point in the process
Offers can be rejected with no feedback
Pricing is often set unrealistically
Rarely is fully-detailed information available early in process
Closing date is often TBD
Here’s a look at how an auction is better for the buyer than a
traditional real estate sale

Virtually all types of real estate can be
auctioned
•  Single family
•  Multi-family
•  Condos
•  Townhomes
•  Commercial
•  Investment
•  Special-use
•  Land
•  Agricultural
•  And More!

Some Example Properties
Hawthorne, Florida
USA
Omaha, Nebraska
USA
Tierrasanta, California
USA
New Kent County,
Virginia
USA
Fishhaven, Idaho
USA
La Terranas, Caribbean
DR
Gig Harbor, Washington
USA
Bonita, California
USA

There are three popular options:
•  Absolute Auction
•  Minimum Bid Auction
•  Auction With Undisclosed Reserve
Let’s take a look at an overview of each type of auction
What types of auctions will I encounter?

Minimum
Bid
Auction
Bidding begins at a minimum, acceptable price to the seller. Less popular among
bidders than the Absolute Auction, a Minimum Bid Auction nonetheless is attractive
to buyers because the starting bid is typically set low enough to potentially provide
a reasonable deal for the buyer.
Auction Bidding Types
Highest bid wins. Absolute Auctions generate by far the most interest among
buyers because of the opportunity to win the property with just one more bid.
Absolute
Auction
Reserve
Auction
Only the seller, the auctioneer and the Auction Specialist with
RealEstateAuctions.com knows a confidential minimum price at which
the property can sell. Buyers may find this option less compelling
because of the unknown minimum threshold their bidding needs to
reach in order to purchase the property.

There are three primary ways you’ll participate in an auction:
•  Live, In-Person Event
•  Online-Only Event
•  Live / Online Hybrid Event
Let’s see how each of these methods are defined
What methods of auction will I be able to bid?

Online-Only
Event
Perfect for a listing or listings in which a live, in-person event isn’t practical. With an Internet
connection and a computer, bidding can be done from almost anywhere, on properties located
almost anywhere, using the RealEstateAuctions.com Online Bidding Platform.
Auction Methods
When most people think of “auction,” this is it. This type of event features a live auctioneer in
an open-outcry setting. Qualified bidders raise their numbered paddles or bid cards when they
wish to bid at the announced price, which is publically acknowledged by the auctioneer. A live,
in-person event is typically held at a hotel ballroom or conference center for multi-property
listings, or onsite at the subject property for a single listing.
Live,
In-Person
Event
Live / Online
Hybrid Event
A great combination that melds today’s technology with tradition to throw open the doors for
bidding from in the room, across town or across the world.

Question & Answer
A: Absolutely not. Any real estate that can be sold can be
auctioned. It simply is the fastest, most efficient and most
transparent way to buy and sell.
Q: Aren’t auctions used only for foreclosures and distressed
properties?

Question & Answer
A: Yes, select properties are sometimes available for sale
without an auction. Use the contact information at the
conclusion of this presentation.
Q: Does RealEstateAuctions.com ever offer listings that can
be purchased other than via an auction?

Question & Answer
A: We provide a comprehensive BIP (Bidder Information
Package) downloadable via our website that includes
many pertinent documents about the property. In addition,
we encourage an inspection visit at an open house we
will hold at the subject property, on an announced date
and time.
Q: Where do I obtain information about the property in which
I am interested?

Question & Answer
A: First, you must be a qualified buyer. That means able
to purchase with cash, or with financing already in place.
This is one of the main reasons auctions are fast and
efficient. With qualification already in mind, let’s look at an
onsite auction followed by an online auction.
Q: How exactly do I take part in an auction?

Participating in an Online Auction : Process
End of Auction
At the close of auction, the top bidder will be notified
and provided with additional information about
contact signing, supplying additional funds and
completing the purchase.
Fax or Scan
Fax or scan-to-email proof of earnest money in
certified funds (typically a cashier’s check) to the title
company or escrow agent specified
$$
Earnest Money Deposit
Follow the instructions regarding how much earnest
money is required to participate in a given auction
Registration
Visit www.RealEstateAuctions.com and register to bid
online. Read and accept the Terms and Conditions.
Confirmation
An email will be sent confirming your bid and alerting
you if a higher bid is received. Place another bid if
you wish
Placing a Bid
When bidding is open, use the easy-to-navigate tools
in the Online Bidding Platform to place your bid
1
2
4
5
63

Participating in an Onsite Auction : Process
Registration
Register with administrative staff
and provide earnest money
specific to the property(s) on
which you are interested in
bidding. This is typically a
cashier’s check made out to
yourself, which will be held and
returned to you if you do not place
any “winning” bid
Arrival
Arrive at the designated location
at least 30 minutes before auction
time
Bidding
Raise the numbered card or
paddle you have been issued to
place a bid, following the bid
caller’s lead
Terms and Conditions
Agree to Terms & Conditions
Winning Bid
If designated the high bidder by
the bid caller (auctioneer) at the
end of that property auction,
proceed to the designated area to
sign paperwork

Here are some of the many ways you’ll find auction events we’re holding
and the listings that are offered:
•  The RealEstateAuctions.com website with a dedicated, customized
listing page for each property
•  Local Multiple Listing Service
•  Additional real estate-focused websites
•  Brochures and/or flyers
•  Direct mail
•  Social media
•  News releases
•  Company newsletter
•  Newspaper ads
•  TV and/or radio spots
•  Billboards
•  Guerilla marketing
How We Market

Marketing Examples
SEARCH.
DISCOVER. BID!
Seemless buying process
Quick closing
Online Bidding Capability
Nationwide Selection!
1765 Scott Blvd. Suite 209
Santa Clara, CA 95050
T: 804.839.2694
CON
TACT
Lisa Englehart
LEnglehart@RealEstateAuctions.com
Your complete site for
buying and selling real estate
1 (650) 584-3741
www.RealEstateAuctions.com
Commercials
Billboards
Direct mail
Flyers

Buyer’s are charged a Buyers Premium, which is a percentage
added to the “hammer price” (when the auctioneer’s gavel falls
to indicate a sale) of a property.
Example:
$150,000 hammer price + Buyer’s Premium (4%)*
= $156,000 final sale price.
*Buyer’s Premium will vary
How Much?
How much will it cost for me to buy real estate at an auction?

About US
We’re a national real estate company specializing in
auctions. We’ll sell your real estate using the fastest and
most efficient way of bringing buyers and sellers together.
RealEstateAuctions.com was founded in 2010 by the CEO of
a successful and well-known real estate brokerage of more
than 20 years in Chicago. He began using auctions as a
marketing method and soon decided it would become the
sole purpose of the company because of the speed, ease
and transparency auctions provide.
RealEstateAuctions.com is currently licensed in most states,
with expansion to all 50 underway. In 2015, the company
expects to expand internationally.

Thank you!
If you’re interested in learning more about
auction benefits for buyers, please contact me.
I’m happy to provide additional information.
Nicole Surber
209-556-8018
NSurber@RealEstateAuctions.com
www.RealEstateAuctions.com

Auction Buyers Guide Nicole Surber

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