Selling your property with Marco Auction is a unique experience. It can differ in many ways from the traditional experience of listing your home for sale and handling offers, but it also shares enough similarities to keep the process somewhat familiar
When a seller has a real estate agent who has been working hard to sell their property, and it is decided to switch to a real estate auction through Marco Auction, the seller's agent doesn't give up any commission.
When a property is listed from the beginning with Marco Auction, we act as primary real estate agent and auctioneer and act quickly to get the best price for your property. When you already have a real estate listing with an agent and transition to an auction with us, we become the co-lister of your property alongside your original real estate agent. As the co-lister overseeing the auction, we handle all offers from that point on up until and including the final sale of your property at auction, or purchase of the property with an accepted bid before the auction takes place.
Sellers can rest easy knowing that a successful bid is backed by $1000 earnest money and verification, so that the closing process can go smoothly. We also need proof of funds or approval letter from the bank.
75% of the time the listing gets sold at the actual auction date and time. About 25% of the time, the seller will accept an offer before the date of auction and the auction is cancelled.
Proxy buyers at a live auction can be accepted with advance notice and proof of funds. This means that you can have a representative there with prior notice that can take care of the physical part of the transaction for you, while you are checking on their progress with Facetime or another video app.
All auctions are "AS-IS", meaning that the property will be sold without any contingency of the potential buyer with regard to the structure, and maintenance. Bidders can make inspections, however the seller will not make any repairs to the property.
After the auction is completed, and earnest money has been processed, the transaction is, for the most part, handled like a normal real estate transaction.
If you want more information on any of this process, just give us a call, and we would be happy to assist you.