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Orlando Florida Real Estate Auction Update

February 15th, 2008 by tisner

Orlando Florida Real Estate Luxury Auction

 

orlando florida luxury international real estate auction

 

Here is more information about the upcoming Orlando Florida Luxury Real Estate International Auction by Keller Williams Realty.

 

So just what are the seller options when it comes to an auction?  What are the fees and what can I expect?  First you need to know which of the two options you want to offer your property in an asolute or a reserve auction.

 

An Absolute sale is one where the property is sold to the highest qualified bidder with no limiting conditions of amount.  Also known as an auction without reserve.

 

Note statistics show that absolute sales command more atention from buyers, secure more opening bids, and consequently achieve higher prices.

 

 

A reserve auction is a minimum pirce for which a property will sell on auction day.  If the auction bidding does not reach this minimum, the seller is not obligated to sell.

 

Note:  We are very selective in regards to which properties are accepted on a reserve basis when it comes to the Keller Williams Orlando Florida Luxury Real Estate International Auction being held in Orlando, Florida on March 15th at 1 pm.  Registration will be Saturday 11-1pm.

 

Properties in this auction held in Orlando, Florida at the Wyndham Orlando Resort will generally speaking be in the price range of $500,000 and up.

 

So what are the seller costs to be admitted in this auction?  There is an engagement fee paid up front and commissions.

 

The engagement fee for the our March 15th auction is refundable upon closing if entered as an Absolute sale, non refundable if entered as a reserve.  Commissions are 3% of contract price payable at closing to Listing Agent in either type absolute or reserve.

 

Buyer Costs include a Buyers Premium of 10% which will be added on to the final bid on each property.  ( High Bid + Buyers Premium = Contract Price).  A 10% deposit or a non-refundable deposit of 10% of the contract price, due immediately upon the close of bidding.  And finally closing costs, the buyer pays all closing costs for the residential sales in the county and state where the property is located including, but no limited to, all Doc Stamps, Transfer Taxes and Title Insurance.

 

The responsibility of the Buyer’s Premium shifts toward the seller if the property is contracted for sale during the Pre-Auction Protection Period (Feb. 15-March 15th)  or during the Post -Auction Period (March 16- May 16).

 

If you are interested or want to learn more, the next Seller orientation will be held in Orlando Florida at Wyndham Orlando Resort on Tuesday February 19, 2008 at 6pm for Sellers and Thurs. February 28th, 2008 at 6 pm for buyers and again on March 5, 2008 at 6pm for buyers.

 

Just interested in the process and want to see how it works call Teri Isner today for complete details at 407-467-5155.  She can help get you registered and put you in touch with right people to answer all your questions.  No obligation even if you are just looking into this concept please feel free to call.

 

 

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Teri Isner, CIPS, CRS, GRI
Keller Williams At-The-Lakes
66 Riley Road
Celebration, Fl 34747

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