More Americans are using auctions to sell property
How would you like to sell your home in just five days, at full price or near it, and pay no broker’s commission?
Such is the attraction for an auction-type method (users call it a “round-robin” bidding process) of selling homes explained by the book, “How to Sell your Home in 5 Days,” by Bill Effros.
Here’s how it works:
On Wednesday sellers start promoting the sale through newspaper ads, signs, and other media. These say that the property will be awarded to the highest bidder …

Press release
It was standing room only at the Roebuck Auction Center Thursday, Feb. 23, when 33 properties located in Midtown Memphis sold in rapid succession.
“The turnout was phenomenal,” said Auctioneer John Roebuck, president of Roebuck Auctions. “Investors realize a good opportunity when they see one, and there were so many properties included in today’s sale. They knew it and obviously, they couldn’t stay away.”
Marie Hogan was one of the successful bidders, and she said it was her first time buying a home by herself at an auction.
“It …

INVESTORS were so keen on a piece of land on the KwaZulu-Natal north coast the auction hammer came down at R190m.
The price is thought to be the highest price achieved for any property auction in South Africa, says Geoff Stroebel, business development manager for Pam Golding Commercial. It was the biggest property deal ever clinched by Pam Golding.
Stroebel doubted that the price was an overall SA record. He thought that belonged to Melrose Arch, where realizations are thought to have been R800-m.
At the auction in Umhlanga on Thursday, a …

The auction sale of two immovable properties, on Mosque Road in Frazer Town, belonging to Abdul Kareem Lala Telgi, by the Income Tax Department was put off for the third time on Thursday, as no bidders turned up for the auction.
Income Tax Commissioner (Central) M C Agarwall told reporters that since there were no takers, they had to defer the auction to March 10. There were a number of enquires about the properties, but no one came forward for the bidding, Mr Agarwall said. The Department of Income Tax …

A Kings County land-owner has signed a deal with online auctioneers, West Auctions, to auction off a large 115 acre parcel of undeveloped land along the I-5 corridor. The property, which has direct highway access, and is adjacent to the I-5 freeway, is being scouted by developers for a potential commercial complex that would have a profound impact on the local economy.
Kettleman City, located midway between Sacramento and Los Angeles, has long been a favored rest point for travelers along the I-5 corridor. The steady increase in north …

In 2006, the city plans to auction land use rights for 73.18 ha of land in hopes of raising $143.75 million. Last year, Hanoi auctioned land use rights for 22 projects covering 9.7 ha. The auctions brought in VND1,394 billion ($87.125 million).
 
In the first quarter of 2006, the following tracts of land will be auctioned off: 18.6 ha in Tay Ho District (blocks D6 and D9), blocks D6, D18 and D21 in Dich Vong, Cau Giay District and 20% of the new My Dinh 1 residential area in Tu Liem …

Wanaka and surrounds are experiencing strong buying interest for upper end property by those increasingly discovering the stunning Southern Lakes district, according to Harcourts Wanaka Manager, Phil Gilchrist.
Following the recent purchase of the office by long-time successful Harcourts Business Owner, Tony Jenkins (owner of Harcourts Invercargill and Gore offices), the team has also introduced a stronger auction culture which has seen three highly successful recent auctions confirming it as a welcome option by both sellers and buyers. Mr Gilchrist said two prestige properties auctioned on Waitangi day both “sold under …

An historic landmark with no reserve price was sold at auction on Thursday for £330,000.
The disused water tower called “Jumbo” in Colchester, Essex was auctioned with planning consent for a penthouse flat.
Several schemes to develop the 131 ft landmark, which was taken out of commission in the 1980s, have failed.
A “Save Jumbo for Colchester” group, had attempted to buy it for the town but lost out to a property developer from Sudbury in Suffolk.
Speaking after the auction, developer George Braithwaite said he had not decided how to use the property.
The …

The former Hampshire Community Action Commission offices and land at 557 Easthampton Road was auctioned for $725,000 yesterday, a figure the agency’s former director called “astounding.”
Despite the auction, the future of the property is unclear. Debbi Wysocki, who identified herself as the successful bidder, declined to give information about herself or plans for the property.
The auction was the final death throe for the commission, which was forced to dissolve last year under the weight of a $1 million debt. Once the biggest child care provider in Hampshire County, the agency …

Press Release
A contractor’s head office, shop and yard located in Gilbert, AZ was sold at the Ritchie Bros. (TSX:RBA)(NYSE:RBA) Phoenix unreserved auction on Thursday, February 16, for $3.2 million. It sold to an online bidder from California, breaking a Ritchie Bros. record for the largest item ever sold online at a Ritchie Bros. auction.
“We had a number of interested bidders in the crowd at the salesite here in Phoenix,” said Will McLemore, Real Estate Auction Division Sales Manager for Ritchie Bros. Auctioneers. “But once the bidding got past $2.75 million, …