hi I'm Mary Baker auctioneer and owner
of Ohio real estate auctions let's take
a few minutes and talk about the auction
process if you're a seller if you're
going to sell a property at auction you
should have two things number one
motivation number two equity we get a
lot of calls from sellers wanting to
sell the property at auction not
everybody's right for an auction if you
don't have enough equity in your
property you're probably not an auction
candidate if you're interested in
selling your property auction make sure
you contact us whether it's by phone or
email we'll set up an appointment to
talk to you either by phone or meet you
live at the property sometimes we never
even meet the seller we've sold many
properties for sellers that are out of
state and it's just inconvenient for
them to come into town let's talk a
little bit about time frames budgets who
pays for what and what type of option
that you will have typically time frames
for an auction or about 30 days once we
meet with you and decide this is a good
thing to do once we have the auction we
give the buyers usually up to another 30
days to close you can spend as much
money or as little money as you want on
an auction budget you have to market the
property if you have a million-dollar
property we're probably going to ask you
to spend around $20,000 letting the
public know about this auction you have
a twenty-thousand-dollar auction we're
going to try to spend less than a
thousand to try to make your property
stand out typically budgets are paid by
the seller we will design a budget go
over it with you you will prove it and
we'll stick to that budget in Ohio
there's two ways to sell your property
at auction the first way is an absolute
auction an absolute auction sells
regardless of price to the highest
bidder we sold hundreds and hundreds of
properties an absolute auction the other
way to sell a property at auction is
with a reserve or a minimum if you do a
reserve or a minimum bid auction you
want to make sure that that minimum bid
is low enough to get people excited
about your property leading up to your
auction give you a progress report as
often as needed the day of the auction
is fairly simple the auction process
only takes about 20 minutes
in general whether you're selling a
twenty-thousand-dollar house or two
million dollar commercial property let's
talk about closing once your auctions
happen we typically give the buyer about
30 days to close once the property is
closed the title company wire your funds
right to you or if you're closing go
hand you a check if you'd like more
information please call or email or you
can look at our website ohio real estate
auctions com