Types of Auctions
ABSOLUTE (without Reserve)
The property is sold to the highest qualified bidder, with no minimum bid or limiting conditions (regardless of the price). Absolute Auctions tend to attract the highest amount of interest. Buyer excitement and participation are heightened since the sale is guaranteed. Absolute is the strongest message to the market that the Seller is committed to sell.
The seller will accept bids at or above a disclosed or undisclosed price. The minimum price is may be stated in the brochure and advertisements and may be announced at the auction. Minimum Bid is setting a price at which the market believes the property will definitely sell. The skill is to establish a minimum that causes the market to believe that there is a bargain, and then count on a fair market return.
The majority of our auctions are conducted on-site. However, some of our auctions are online-only, sealed bids, etc. We can accommodate bidders who wish to participate remotely (online, phone, absentee, etc.) . However, remote bidders can only participate if they have presented to us the deposit and contract prior to the auction.
Whether it's residential, commercial or land - our experienced, professional staff, with its extensive knowledge of the real property marketplace, makes us the best suited firm for the sale of your property. We specialize in, but are not limited to, auction in the following categories: Distinctive Property, Residential, Commercial, Land, Estates & Trusts, Bank Owned (REO), Business Liquidations.
JJManning specializes in accelerated marketing and stigma-free "as-is" auction sales of non-distressed commercial and residential real estate with a 98% closing rate, where the buyer pays all commissions.