Monday, April 19, 2010

A Vendor Checklist for Auctions

You can improve your chances for a successful auction if you lay the proper groundwork first. Here are some suggestions.

Find an agent you’re comfortable with before the main selling season begins and engage the auctioneer. Then work out an auction date early in the piece specifying the time of day you want the auction to take place—ideally between 11am and 3pm.

By having the auction date early in the selling season you insure that should the auction fail, you will still have plenty of time for it to be listed for a subsequent private sale.

Most people overlook the fact that you can leave an auction too late by running it in mid-November or the first week of December. This is because if it passes in you will need three or four weeks to sell and this then clashes with the Christmas season. Everything shuts down, buyers go on vacation, school lets out and so forth.

There is also the matter of having your agent look at the property and advising you on what work you can do to get your presentation in top condition. While major renovations like installing a deck for entertaining are good, it’s critical to speak to a professional builder first to make sure the job can be completed in time for the selling season.

Don’t forget, when the market heats up there will be a strong demand for renovations and it could be months before your renovation is finished.

If you have a question about real estate, or would like assistance in locating a property, feel free to phone me, Noel Thompson Principal Professionals Logan Lifestyles at either Browns Plains 3800 4000, Marsden 3200 4495, Springwood 3808 5544 or Waterford 3299 7733.

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