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Got a Question? We Have Answers.

We have been in the auction business for decades. Here are some commonly asked questions we often get. Reach out at anytime if you do not see your question answered here.

  • Why is selling at auction right for me?
    Pay no commission Pay no closing costs Receive all cash, non contingent contract Sold "as-is" Quick settlement We bring interested, serious buyers to you Accelerated method of marketing Seller sets terms of sale (reserve) One open house viewing on the day of sale Bidders compete for ownership of your property Only qualified bidders participate Cooperation with real estate brokers
  • What does it cost to register?
    Registration is free, but you must provide proof of deposit in order to bid on the property. You do not have to relinquish your funds unless you are the highest bidder.
  • Why must I register?
    Registration is mandatory. The information provided at registration is used for verification and used to begin the settlement process should you be the highest qualified bidder.
  • What is the "buyer's premium"?
    An advertised percentage of the highest bid added to determine total contract price paid by the buyer. Buyer's premium is usually a 10% fee paid to the auction company for services rendered.
  • As a seller, do I have to disclose known defects?
    The seller must abide by all applicable federal and state laws. All required disclosures must be made available, e.g. Lead based paint, ground rent cost, historic registry, etc.
  • What is an absolute auction?
    An auction where the property is sold to the highest, qualified, bidder regardless of price.
  • If I am the highest, qualified bidder and change my mind, is my deposit refundable?
    All sales are final unless the seller cannot deliver clear title to the property. If you do not complete the sale, your deposit is lost and you will be charged any additional costs necessary to re-market the property. Read the terms and conditions of the sale prior to bidding on properties that you want to buy.
  • What are different ways to sell property at auction?
    Reserve Auction: Subject to seller’s confirmation, auction is taken to highest bid, at which time bid is discussed with seller and seller decides whether to accept or reject that high bid or Absolute Auction: This type of auction promotes the highest interest in your property and activity from bidders. It creates excitement and urgency. Absolute auctions have been known to create a bidding frenzy and consistently produce the highest final bid on properties. Other: There are variations on both absolute and reserve auctions. One such variation is called a Sealed Bid Auction. In this type of auction, buyers are required to bid in writing. This method can be effectively combined with a live “out-cry” reserve auction to identify and extract the highest bids from an audience before buyers can get a feel for the competition. Auction Brokers will work with you to determine the best auction strategy for your situation.
  • Does it cost me anything to auction my property?
    A nominal property value-proportionate advertising fee is required upfront to promote your property using our “tried and true” target marketing tactics. Virtually all of these funds go directly to the marketing services. Visit the page "Advertising Details" for complete information.
  • How long after the auction can I expect to settle?
    30 - 45 Days
  • Why Sell Real Estate At Auction?
    Auction marketing is faster and more effective than any other real estate marketing method. *Speedy Process, Quick Turnaround An auction is immediate. It happens during a set time and is completed during that time. It's quick and efficient. You Set the Time and Place of Your Sale It's as simple as that. You work with Auction Brokers to schedule what works best for you. You Know Exactly When Your Property Will Be Sold There's no wondering whether or not your property will sell. As soon as we reach your reserve, it WILL sell and it will sell during the set auction time. Comprehensive Marketing of Your Property Part of conducting an auction is marketing it to the general public to get as many people there as possible. Click here to learn about Advertising Details. Buyers Come Prepared to Buy Auction goers come with money in their wallets, pockets and hands and are prepared to come home with property. It's a seller's delight. For real estate auctions this is especially advantageous because buyers must qualify to buy through a deposit of cash, or a cashier's check. No Negotiations There is no haggling over price. The auction method is quick and efficient. When people bid, they make a commitment to buy the property at that price without discussion or debate. Competitive Bidding Auctions motivate buyers to perform. People get caught up in the competitiveness of the bidding and many times this drives the price of items higher. To some it's like a game, and they want to win at all costs (or hopefully for you, at high costs!) And did you know that 9 times out of 10, an auction brings in the fair market value, if not more, for any item put across the auction block? Exciting Atmosphere There's no more exciting atmosphere than an auction. Crowds of people competing for property, combined with that lively auction chant makes for some great entertainment and fun. It makes people feel good and makes them feel like spending. Auctions Work Well in Both Good and Bad Economic Times People love auctions, because they love sales. Statistics show, in a good or bad economy auctions remain a steady force. When the economy is bad, the auction industry does not feel the impact: people still flock to auctions. *Content in this page was provided by the National Auctioneers Association
  • What Types of Auctions are there?
    Auction sales can be divided into two types: “Absolute” and “Reserve.” Both have merit. Absolute Auction In an Absolute Auction, property is sold to the high bidder regardless of price. Once the auctioneer opens bidding, all high bids are accepted. Market studies show that Absolute Auctions produce the most registered, qualified bids and 10% to 20% higher sales than other types. Absolute auctions are popular because they communicate a motivated seller. Reserve Auction In a Reserve Auction, the seller reserves the right to accept or reject the highest bid over his or her Reserve Price. The Reserve Price is set by the seller and communicated to the auctioneer, but will not be advertised to the public. Once the reserve is reached, the auction becomes absolute and the property will be sold. Other There are variations on both absolute and reserve auctions. One such variation is called a Sealed Bid Auction. In this type of auction, buyers are required to bid in writing. This method can be effectively combined with a live “out-cry” reserve auction to identify and extract the highest bids from an audience before buyers can get a feel for the competition. Auction Brokers will work with you to determine the best auction strategy for your situation.
  • How Do I Sell Real Estate at Auction?
    “Successful auctions don’t just happen, they’re planned.” The key to selling real estate is letting the maximum number of people know about the opportunity. Your sale price on auction day will only be as good as the demand created. To create demand, you must invest in advertising or buyers will not react. Advertising is the only fee you will pay to sell your property, and we will make sure that each of your advertising dollars is spent wisely. We do not make a profit on your advertising fee. Each dollar is accounted for. Advertising and marketing begin at least 2-3 weeks prior to auction. Before a single dollar of your advertising money is spent, we develop a Marketing Strategy using the following formula: 1. Target 2. Message 3. Media 4. Frequency Click here to learn more about Auction Brokers advertising.
  • Where can I get advertising details?
    Creative Public Relations Sometimes, the most effective advertising is free! For example, when the Sputnik research vessel was decommissioned and brought down from space, Taco Bell enjoyed free publicity that would have cost millions. They floated a target in the Indian Ocean, and promised that if any part of the satellite hit the target, every person in America would receive one free taco. Your property may also have a unique and newsworthy story. Was it ever inhabited or owned by a famous person? Is it unique or somehow special? Is it tied to the community, historic, or a hated eyesore? Depending on your story, free publicity may be the best – and least expensive – way to promote the sale. Investment Clubs and Networking Groups Unlike any other regional auction firm, Auction Brokers is tapped into the local and regional real estate investment network through its sister companies Investors United School of Real Estate and The Maryland Real Estate Exchange. Telemarketing Conventional advertising can only go so far, so your Auction Associate may also invest time making “warm calls” to promote your property. Opposed to “cold calls,” warm calls are calls to prospects who have a probability of being interested in your property. Signage Before the auction date, Auction Brokers will place auction signs on your property along with directional arrows, where permissible. Our research shows that at least 80% of people who attend an auction saw the signs first. Auction signs create interest and “a frenzy” in the marketplace, putting everyone’s attention on your property. Direct Mailing Prior to auction, we may prepare a professionally designed mailer for your property. We will send the mailer to the target audience we identify as being the most probable purchasers. Often, buyers come from the immediate area, so we may also mail to neighbors. Property Information Packets (PIPs) A Property Information Packet (PIP) is a detailed prospectus or brochure about your property that will be distributed to people who request details about your property. PIPs include such information as: • Auction Terms and Conditions • Property Description • Photographs • Maps, etc. Newspaper Advertising – (Local, Regional, and/or National) Real Estate is typically a local product, but multi-family and commercial property, warehouses, waterfront, marinas, and other such property may call for a more regional or national approach. Auction Brokers will recommend the most appropriate local, regional, and/or national newspaper publications to generate maximum exposure and enthusiasm. Radio & Television Advertising – (Local, Regional, and/or National) In some cases, it is beneficial to supplement our marketing efforts with radio and/or television advertising. We only recommended this in unique situations. World-Wide Internet Advertising Internet advertising has the ability to expose your property to millions of buyers worldwide for virtually no cost. Besides being posted on, your property will be advertised on many other real estate related websites. E-mail Broadcasting Today, people use the Internet on a daily basis. We regularly e-mail buyers who have registered to receive notices of upcoming auction events. Broker Participation Real estate brokers are invited to bring their buyers to your auction. We encourage broker participation by offering a broker participation fee. Brokers are often attracted to the auction method because of the timeliness and surety of a sale on auction day. Real estate auctions are one of the rare occasions when brokers can predict when they will get paid!
  • What happens on auction day?
    On auction day, we will attempt to conduct the auction in an environment that ensures the greatest bidder participation. Immediately prior to the auction, our staff will register all bidders and verify their deposits. Bidders will then have an opportunity to inspect the property. Next, the auctioneer will assemble the bidders and read the Terms of Sale. Then bidding begins. When the gavel falls, the high bid will most likely represent the fair market value of the property. If the high bid exceeds the reserve price, the property will be sold for the high bid. If the bid does not exceed the reserve price, you will have the option to accept or reject the bid. After Your Auction After the auction, we will follow up with the buyer and the title company to coordinate closing. We will also continue to keep you informed of new developments to ensure a quick and smooth closing.
  • How Do I Buy A House at Auction?
    *If you're new to auctions, there's nothing to fear. This step by step guide will show you just how easy it is to find, scout and participate in a live auction. 1. Find an auction To make the atmosphere most comfortable for potential buyers, our professional Auction Day Team will be present to assist with all aspects of the auction. Visit our website often, subscribe to our RSS feed, sign up for our weekly emails, check the local newspapers, specially the Sunday edition of the Baltimore Sun Real Estate Auctions section. 2. Do your due diligence Drive by the property, look at the public records, call the Auction Brokers associate in charge of the property and ask all your questions. 3. Arrive early On the day of the auction, try and get there early enough to register and inspect the property. 4. Inspect Carefully inspect the property. If you’re not familiar with real estate, bring a friend who is. 5. Set a price What are you willing to bid? You should have a number in mind, so you don't go way over your budget in the heat of the moment. Don't forget to include your total costs, like the buyer’s premium and closing costs. Read the bidder's package you were given at registration. 6. Bid Have fun! Carefully follow the auction and bid! 7. Pay If you win, approach the auctioneer or associate. They will help you fill out the contract and other forms required. 8. Enjoy More and more consumers are seeing the advantages of buying by the auction method. In addition, consumers find auctions fun because they're a rewarding activity for the whole family to enjoy. On average, consumers are willing to drive 1.3 hours to attend a live auction, with 75% bringing the family when they go. Here are some of the others reasons why consumers love attending auctions: • 83% think auctions are an exciting way to get good deals • 51% think they offer a great value on real estate • 65% think auctions offer properties they wouldn't find out about otherwise • 53% like the excitement of getting a good price Common Auction Terms If you're a frequent auction attendee, you're probably familiar with some of the jargon used at auctions. But for those of you who are new to buying at auction, you will want to get familiar with a few of the basic terms. Be assured that if you are at an auction and you hear a term or see a process that you don't understand, the auction staff will be more than happy to help you. That's what we do! * Information provided by the National Auctioneers Association website
  • Information for Real Estate Agents
    Become a part of a 272 Billion Real Estate Auction Industry Market conditions have slowed down the conventional methods of selling real estate and earning commission income. Auctioneers and Real Estate Agents market properties not as competitors but as co-marketeres to solve clients needs and to accelerate commission income. Agent / Broker Benefits More customer appreciation: because of faster closings Work less, earn more: 95% of the listing and sale process is done by the auctioneer Equity partner/joint venture opportunity: earn equity profit plus commission High referral commissions Properties sold in “As Is” condition, no contingences, no bank or appraisal approval or rejection Greater number of qualified buyers Buyers bidding against each other to buy properties Increased qualified sellers available Upgrade from residential to commercial and investment property marketing Agent / Broker Earnings Agents earn 25% - 50% of net buyer's premium earned by Auction Brokers. We will consider referals and transact any of the following types of properties: Houses, Commercial, Lots/Lands, Farms, Waterfronts, Condominiums, Income producing and Non-Conforming Real Estate in any location. Call us with your listed or non-listed real estate. We make offers on all real estate.Agents are protected on referrals at all times. We pay fees on non-listed properties. Earn additional commission by representing buyers at public auctions: Become an Auction Brokers Certified Representative (ABCR). Become involved as a referring Agent/Broker for Auction Brokers or qualify as an Auction Broker Certified Representative, and start earning commission and fees immediately. Talk to an Auctioneer Associate or call Charles Parrish 443-253-3886
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