Individuals who own a tremendous amount of land often struggle to find the best way to liquidate their assets so they can gain access to cash for other purposes. While listing the property with a Realtor is a viable option, it can take months or years for it to sell, which can present a problem when money is needed in an emergency situation. Land Auctions in Ponca City Oklahoma have become an attractive option for investors who are looking to unload property quickly and provide a seller with the following benefits.
Reserve Price
Many individuals are leery of using an auction service out of fear that they will not get the money they need out of the transaction. Fortunately, setting a reserve price will prevent a property from selling for less than what is required and will help shield a seller from this liability. An auction company will work with a seller to determine the lands value and a reserve price that will not discourage bidders.
Fast Transaction
From offer to close a real estate transaction can take up to 120 days to complete, and the uncertainty of whether or not the deal will close lingers until the buyer signs the dotted line. Land Auctions in Ponca City Oklahoma are extremely quick, and the winning bidder is required to pay for the land on the spot. This allows the individual selling the property to access their cash the same day.
Nominal Fees
Auction companies wouldn’t be in business very long if they didn’t’ charge a fee for their services, and while most do charge a percentage of the total sales price, it can be up to three percent lower than those charged by a Realtor. The idea of a person’s profit being eaten up by fees and commissions can be devastating, but an auction company will keep expenses nominal and allow the seller to pocket the most amount of profit possible.
When it comes to selling a property, consider thinking outside the box. Wiggins Auctioneers provides sellers with an easy way to liquidate assets as quickly as possible. Visit website.com to learn more about the services they provide, and how they can make any auction event a lucrative endeavor. You can also visit them on Google My Business.
