In this time of uncertainty in the real estate market a technique that is finding widespread acceptance is the real property auction. While real estate auctions have always existed they were traditionally limited to distressed properties, for example, those facing foreclosure. These auctions were conducted by lawyers on behalf of the courts and often resulted in the Mortgagor, often Banks, taking the properties back rather than allowing them to sell for less than their value. In today’s market Banks have many properties for sale, some of which can be viewed on the GREAT DEALS section of this website.
Auctioneers have also entered the market, providing services to estates or owners in danger of foreclosure who attempt to attract buyers on their own. Typically auctioneers charge an advertising fee which in some cases may be close to 10% of the value of the property, in addition to taking a sales commission which varies from 5-10% and may be payable by the Buyer.
HVREAL AUCTIONS are similar to the other types of auction, but vary in several important details. Since the auctions are being conducted by a real estate broker, the broker assumes all advertising costs, and there is no Buyer premium, since the Seller pays the commission. All bids are subject to acceptance by the Seller. For further clarification click on TERMS & CONDITIONS.
The advertising for auctioned properties include web based as well as print advertising. Upon acceptance the Buyer must enter into a sales contract immediately and tender a non-returnable 10% deposit, subject only to marketable title. In some instances the Seller may be willing to accept a mortgage contingency.
Bids may be submitted by e-mail or regular mail at any time up to the auction date posted with the listing information below.The Seller is at liberty to accept an offer at any time in which case the auction will be cancelled. For further information contact Dina Macari, Office Manager, 518-851-6782.
Also for information on additional auctions and pre-auction properties for which we can represent you, contact our Office Manager, Dina Macari
|Disclaimer: Information presented is considered reliable. However, Barns & Farms Realty, LLC and its affiliates and/or suppliers do not guarantee the accuracy of any information as to pricing, availability, floor plans, features and other information pertaining to listings. It is suggested that before visiting a property, the Realtor be contacted to verify any information stated on these pages.
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