I was searching for good videos to post on our website today and found Real Estate Today Radio. This is really interesting and Gil Gross does a great job of reading the articles in a way that is easy to understand. Real estate mortgage rules and laws seem more complex than ever (at least to me they do). If you are buying or selling real estate in Mahoning or Trumbull County Ohio, there is a lot of information on this station that will help you make informed decisions.
There are three primary ways to sell your home at auction in the State of Ohio. It is important that you be aware of the terms of your auction and select the best method according to your particular situation. We at Basinger Auction Service will be able to guide you through this process and protect your interests in the best was possible. We have many years of experience auctioning real estate and can help you avoid the big problems and common mistakes that home owners can make.
An absolute auction sells to the highest bidder with no minimums or reserves. This way we stimulate the largest amount of interest as some people will feel they can get the greatest ‘deal’. Seller’s often worry that their $100,000 house will only sell for $30,000. However we’ve found that with the right marketing, auctions will produce fair market value. This method is ideal for those who have little or no mortgage on the property.
Estate sales and those with more significant mortgages will often opt for this method. Courts generally require that estates bring 80% of the appraised value (as established by a state certified appraiser). Also, those with high pay-offs cannot ‘risk’ and absolute sale unless they have the funds to make up any difference in what is realized auction day and what is yet owed. at 80% of the appraised value, this is still a method that invokes a good deal of interest in a property as people still feel they can get a good ‘deal’ on the property.
Subject to Confirmation
Similar to a ‘Reserve’ sale, the seller has the right to accept or reject the highest bid. We’ve found that this method results in the least amount of bidder interest because the buyers generally don’t know what the seller is willing to accept or, if they do know, think that the reserve is unreasonable.
There are pros and cons to each methods and each seller has to decide which method will be in their best interest.
Whether you’re moving across the country or down the block, downsizing or upgrading or settling an estate, we can assist you in a multitude of aspects!
Our companies, American Real Estate Specialists and Basinger Auction Service, offer a wide range of services. If you:
- Don’t want to put a ‘For Sale’ sign in the yard and wonder when in the next 8 months to a year or more your house might sell.
- Don’t want to weed out the ‘lookers’ or screen for qualified buyers.
- Don’t want to have to make costly repairs to your house before it sells.
Don’t miss you chance to fill in the blanks in your home furnishings for the holidays. December 12th at 4 pm get ready to bid on one of our best furniture auctions of the year. Dining rooms, bedroom and other pieces in oak, cherry, and others.
Not enough seats for Christmas dinner? check this out. Everyone can sit at the same table together and that favorite uncle or brother of your can entertain to his hearts content while you try to enjoy your dinner
If you have a NASCAR fan on your Christmas list look no further than our latest online auction. We have listed a huge collection of die-cast cars that are all in excellent collector display condition. Many have driver and team autographs that were all personally obtained on the track and at visits to the Eastwood Mall over the years.
You can also preview this auction on December 12th at 3pm before our live auction begins.
Place your bids online here > BID ONLINE NOW <
One of the great things about this collection is the attention to detail in combining the cars with the photos, and making custom displays. This makes a unique collectible piece that is ready for display on pick up day! Check out this example of the Dale Earnhardt autograph, car and display.
This hat was signed at Bristol by Terry Labonte.