How to Sell Property at a Land Auction: 6 Benefits

How to Sell Property at a Land Auction: 6 Benefits

How to Sell Property at a Land Auction: 6 Benefits

Learning how to sell property at a land auction can offer great benefits for property owners, including:

1. Committed Buyers
2. Shortened Timeline
3. Equal Opportunity for Buyers
4. Easier Negotiations
5. Diversified Options
6. Obtaining a True Market Price

To find out if an auction is right for you,
request a consultation with our auctions experts.

Selling land can be a long process depending on many market variables. For some, utilizing a land auction to bypass the sometimes lengthy back-and-forth negotiations of a traditional real estate sales process may be an excellent option to consider when selling land. What are the benefits of a land auction?

1. Committed Buyers

Negotiating with buyers can be time-consuming. If the buyer decides to delay or even back out of a deal entirely after lengthy negotiations, it can be frustrating. Auctions speed the sales process by providing buyers who are committed to purchasing your property. This is a tremendous benefit to you, the landowner, because it boosts your confidence knowing the buyer is committed to the purchase and won’t back out of the deal.

2. Shortened Timeline

Another advantage of the land auction is the accelerated timeline as compared to a traditional sales method. Auctions typically close in as little as 30 to 45 days. Whether you’re looking to sell land for development, acreage for family vacation retreats, or simply as an investment, auctions may be the best way to close on a deal quickly.

The shortened timeline also attracts buyers because of the confidence they can have that the seller is fully committed to the process. Many buyers love the speed of the auction process. Because of the timed deadline element of an auction, buyers do not have to worry about investing a lot of time negotiating on a property only to have the seller say they no longer want to sell.

3. Equal Opportunity for Buyers

At an auction, all buyers are working with the same information at the same time and given equal opportunity to bid in a fair manner with the same terms as all other buyers. This level playing field is another attraction of a land auction that entices buyers.

4. Easier Negotiations

Auctions omit stress and greatly decrease the time involved in the real estate sales process. This means the buyer does not have to waste time or valuable resources. Auctions give both the buyer and seller information such as terms and conditions ahead of time so both are fully prepared on the day of the auction. Buyers are also given a due diligence packet with information on the property as well as the time and date of the sale and time frame for closing. This enables the buyer to come to the sale prepared to buy with a full understanding of the terms of the sale while avoiding the inconvenience of negotiating.

5. Diversified Options

In multi-property auctions like this one, buyers are conveniently presented with several options and can compare them all in one place. It gives the buyer diversified offerings and insight into the value of related properties that may interest them while also providing an opportunity to buy multiple properties without having to travel to each property. Participating in a multi-property auction can be a benefit to the seller as these types of auctions can often attract even more potential buyers.

6. Obtaining a True Market Price

The intended purpose of an auction is to reach a true, fair market value on the property. Auctions create a competitive atmosphere allowing buyers and sellers to assess a true market value.

Shorter time frames, less negotiations and a fair market price. These are all great reasons to consider an auction sale of your property.

To find out if an auction is right for you,

Request a consultation with our auctions experts