The James Company: Auction FAQs

Auction Benefits And FAQs

The world of Real Estate is always changing, perhaps now more than ever. In today’s market, our clients want to know how much is their property is really worth and how they can receive top dollar.

Introducing The James Company Auctions…

At The James Company Real Estate Brokers and Development we are committed to determining and exposing the True market value of real estate. By using the auction method of marketing, an accelerated exposure plan, and today’s most innovative technology, we can ensure our clients will receive the truest level of value possible. In a process that only takes 6-9 weeks.

Here at The James Company Real Estate Brokers and Development, we are real estate enthusiasts. Contact us today and see.

Click Here to Contact Our Auction Team

What are the advantages of selling at auction?

The auction approach of marketing your home has many benefits. At The James Company, we provide an accelerated marketing plan of exposing and selling your home. By selling your home within 6-9 weeks and closing the transaction in the following 30 days, we eliminate the long term carrying costs of having your home in the selling market. The aggressive marketing plan helps to stimulate all potential buyers. It is concentrated and intense, drawing much more excitement and attention.

Auctions are becoming very popular with sellers in today’s real estate market. Now more than ever people want to know what their home is truly worth in the current market. At The James Company, we try to expose the true market value of real estate in Chattanooga. Today’s technology, along with our accelerated marketing, allows us to contact every potential buyer for your property and put them in competitive selling situation. This creates true market value, which is, what a buyer will ultimately pay for the property.

What is a Buyer’s Premium?

The buyer’s premium is a percentage amount added to the hammer price of the property being sold. It is added to the sales price and helps to offset the expenses of the having the auction event. It is paid by the buyer, as to help reduce costs to the seller.

What happens if we have the auction, sell the property, and the buyer does not receive financing?

To benefit our sellers, all bidders must be prequalified by a lender before being allowed to bid. The James Company works with the seller to set the terms conditions of the auction. You control the sales process. In a traditional real estate transaction a price is set, and then is normally negotiated down by a buyer. At auction, a buyer can only be successful if they offer the highest bid.

Why auction as opposed to just listing my home for sale?

Our accelerated auction marketing is for sellers who are very motivated and need to get their property sold within a certain time period. The time-specific nature of holding an auction can make sure the seller’s property is sold when it needs to be.

How does an auction work online?

Online auctions work just like attending a live auction, only the bidding is done from your computer as opposed to a seat at the auction. Buyers register before the auction and bid on the property/properties they are interested in.