mobo bronco

Ref: http://www.dspedalcarrestorations.com

http://www.retradio.com

Absolute

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.

Reserve

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.

Our companies, American Real Estate Specialists and Basinger Auction Service, offer a wide range of services. If you:

1. 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.
2. Don’t want to weed out the ‘lookers’ or screen for qualified buyers.
3. Don’t want to have to make costly repairs to your house before it sells.

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

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.

Terry Labonte NASCAR Cap

If you haven’t bid online before, this will be a good opportunity to get your virtual bidding paddle wet. We will have many great items in collectible categories that have been weathering the economy better than others. Toys and Trains especially continue to be a strong seller at live and online auction venues across the country. If you live within driving distance of our North Lima Auction Center, then by all means come out and spend some of your Christmas shopping time bidding with us.

You don’t have to be a toy expert to get in on the action. If it’s in good condition and you think it’s neat, then it’s probably a good buy for you. If something catches your eye there’s usually reason. Maybe you had one like it when you were younger, or it just looks like a cool toy. If you see some value in it, then often times others will too. You’ll know if it’s a popular toy when the bidding starts! so set your high bid in your mind ahead of time. You will be able to review bids on this auction ahead of time online and that will provide some clues as to an item’s popularity. Toys are fun to collect because it’s an investment that you can display and appreciate in the house or shop.(Spousal or significant other consultation is recommended in all cases when and where collectible toys are to be displayed

So get ready to bid on some great collectibles on November 28th and remember your never too old to finally get that special Blue Tonka Truck.

If a home is being sold for below what the current seller owes on the property—and the seller does not have other funds to make up the difference at closing—the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number of factors, including job losses, aggressive borrowing against their home in the days of easy credit, and declining home values in a slower real estate market.

A short sale is different from a foreclosure, which is when the seller’s lender has taken title of the home and is selling it directly. Homeowners often try to accomplish a short sale in order to avoid foreclosure. But a short sale holds many potential pitfalls for buyers. Know the risks before you pursue a short-sale purchase.

You’re a good candidate for a short-sale purchase if:

• You’re very patient. Even after you come to agreement with the seller to buy a short-sale property, the seller’s lender (or lenders, if there is more than one mortgage) has to approve the sale before you can close. When there is only one mortgage, short-sale experts say lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.
• Your financing is in order. Lenders like cash offers. But even if you can’t pay all cash for a short-sale property, it’s important to show you are well qualified and your financing is set. If you’re preapproved, have a large down payment, and can close at any time, your offer will be viewed more favorably than that of a buyer whose financing is less secure.
• You don’t have any contingencies. If you have a home to sell before you can close on the purchase of the short-sale property—or you need to be in your new home by a certain time—a short sale may not be for you. Lenders like no-contingency offers and flexible closing terms.

If you’re serious about purchasing a short-sale property, it’s important for you to have expert assistance. Here are some people you want to work with:

• Experienced real estate attorney. Only about two out of five short sales are approved by lenders. But a good real estate attorney who’s knowledgeable about the short-sale process will increase your chances getting an approved contract. Also, if you want any provisions or very specialized language written into the purchase contract, a real estate attorney is essential throughout the negotiation.
• A qualified real estate professional.* You may have a close friend or relative in real estate, but if that person doesn’t know anything about short sales, working with him or her may hurt your chances of a successful closing. Interview a few practitioners and ask them how many buyers they’ve represented in a short sale and, of those, how many have successfully closed. A qualified real estate professional will be able to show you short-sale homes, help negotiate the purchase when you find the property you want to buy, and smooth communications with the lender. (All MLSs permit, and some now require, special notations to indicate that a listing is a short sale. There also are certain phrases you can watch for, such as “lender approval required.”)
• Title officer. It’s a good idea to have a title officer do an initial title search on a short-sale property to see all the liens attached to the property. If there are multiple lien holders (e.g., second or third mortgage or lines of credit, real estate tax lien, mechanic’s lien, homeowners association lien, etc.), it’s much tougher to get that short sale contract to the closing table. Any of the lien holders could put a kink in the process even after you’ve waited for months for lender approval. If you don’t know a title officer, your real estate attorney or real estate professional should be able to recommend a few.

Some of the other risks faced by buyers of short-sale properties include:

• Potential for rejection. Lenders want to minimize their losses as much as possible. If you make an offer tremendously lower than the fair market value of the home, chances are that your offer will be rejected and you’ll have wasted months. Or the lender could make a counteroffer, which will lengthen the process.
• Bad terms. Even when a lender approves a short sale, it could require that the sellers sign a promissory note to repay the deficient amount of the loan, which may not be acceptable to some financially desperate sellers. In that case, the sellers may refuse to go through with the short sale. Lenders also can change any of the terms of the contract that you’ve already negotiated, which may not be agreeable to you.
• No repairs or repair credits. You will most likely be asked to take the property “as is.” Lenders are already taking a loss on the property and may not agree to requests for repair credits.

The risks of a short sale are considerable. But if you have the time, patience, and iron will to see it through, a short sale can be a win-win for you and the sellers.

* Not all real estate practitioners are REALTORS®. A REALTOR® is a member of the NATIONAL ASSOCIATION OF REALTORS® and is bound by NAR’s strict code of ethics.

Note: This article provides general information only. Information is not provided as advice for a specific matter. Laws vary from state to state. For advice on a specific matter, consult your attorney or CPA. 

Copyright National Association of REALTORS®. Reprinted with permission.

In addition to being held live in our auction center, this auction will be open for online bidding. If you can’t make the auction for any reason, you can place bids ahead of time, or bid live during the auction on the Internet.

If you have art, antiques or collectibles that you would like to sell in this auction please contact us asap so we can make the two week advertising window. We are also planning a Winter Antiques and Collectibles Auction after the 1st of the year, so call us today for an evaluation of your items.

Check back soon for preview photos and updates about the items being offered.