TO SELL REAL ESTATE - SALES PROCESS
Auction Viability Assessment
first step in the listing process is a free assessment by
our staff to determine if an auction is a viable option
for your property. Please note that in some cases Kennedys
Auction Service may provide an estimate of value, however
no estimate should be considered a guarantee unless so stated
in writing. Please contact us to set up an appointment for
us to see and review the details of your property.
The Listing Agreement
you have decided to list your property for auction, you
will receive our straightforward agency and marketing agreement,
also known as the listing contract or agreement. The auctioneers
and sellers responsibilities are clearly spelled out in
the contract so that each party understands their role in
the process. The agreement also provides a detailed description
of the terms and conditions under which the property is
to be sold. Following the completion of the listing agreement
we will initiate a title search with your designated attorney
or title agent to ensure there are no issues with conveying
the property. We will also make arrangements for them to
hold the earnest money deposit and prepare closing documents
after the auction.
Preparation for Auction
We take great care to ensure each property has maximum
visibility and appeal with large, high visibility signage,
direct mail and in our newsprint and internet advertising.Research:
Using our extensive experience and expertise in real estate
and in depth research of each property, using all available
tools, we seek to develop a detailed description and knowledge
of your property in order to achieve the maximum price
that the market will support.
After consulting with you to understand your needs and
schedules we will set a date and time for the auction
to take place. In most case we sell real estate onsite;
however, in some cases this is not suitable. If it is
determined that an on-site auction is not the best avenue
we will procure a venue such as a hotel ballroom or in
some cases our auction gallery in downtown Selmer, TN.
Your property will be photographed for inclusion in both
print and internet advertisement. These photographs highlight
details that will build interest and instill confidence
among prospective bidders.
& Fliers: We produce high quality color and black
& white brochures and circulars to build interest
and provide information on the property to be offered
in the upcoming auction.
Marketing for Worldwide Visibility
marketing: Auction brochures or circulars are mailed to
private buyers, investors and agents from our data base.
Additionally, auction fliers are distributed to local
businesses, malls and restaurants to draw attention to
We place advertising in national, state, and local publications
highlighting upcoming auctions.
Posting: All auction listings are uploaded to our website
as well as various third party websites, including the
worlds largest auction directory. All electronic
marketing is placed well in advance of the auction to
broaden exposure of your property to millions of people
Preparing the Property for Auction
staff will review the condition and appearance of your property
and recommend the proper repairs, cleanup or inspections
to make the property the most presentable and marketable.
cases we will recommend holding one or multiple open houses
at designated and advertised times for prospective purchasers
to view and inspect the property - at any such event, we
will have professional staff on hand to answer questions
and walk visitors through the auction process. We are always
available to show the property at unscheduled times, if
needed for a prospective buyers convenience. In many
cases (especially when personal property will be sold as
part of the same auction as your property) we will have
staff onsite several days in advance and therefore there
is no need to schedule a formal open house.
auction staff will arrive at least two hours prior to the
scheduled start of the auction including auctioneers, clerks,
cashiers, bookkeepers, ring men and assistants who will
be present to properly conduct your auction. In the event
of possible parking problems, off duty Police, Deputies
or security personnel will assist attendees with parking.
begin to arrive, the Auctioneers, Real Estate Brokers and
ring men will distribute plats and brochures, answer questions,
show property and welcome everyone.
Auctioneer will then take the stand and explain the terms
and conditions of the auction, the sale restrictions and
the rights of the seller, the buyer, and the auction company.
The auction begins and the ring men spread out through the
crowd to see that there is no confusion, coax buyers to
bid more and to make sure the auctioneer sees every bid.
They will also answer any last minute bidder questions while
the auction is in progress.
following the auction of the property, the winning bidder
will be required to sign the As Is, Where Is
purchase and sale agreement, and deposit the nonrefundable
earnest money - typically in the amount of 10% - 20% of
the sale price (the percentage is established with you at
the time of listing and announced to buyers in advertising
and at the start of the auction).
Closing and Settlement
the auction we will deliver the earnest money deposit and
a copy of the contract to the designated title company or
attorney for them to hold in escrow until closing. Closing
will be scheduled to occur within 35 days of the auction.
Our staff will be in contact with buyer, seller and closing
agent to ensure that the closing takes place smoothly and
Learn about the auction advantage
| Learn how
to sell personal property
Call Kennedy's Auction Service at 731.645.5001 now!