Why Auction? Am I a Good AMCbid Auction Candidate?
My Asset Rocks
Congratulations asset rocker! If you’ve got a kick-Asset that people want and are willing to pay for, there is no better way to liquidate your property than by the auction method.
Auctions for high-demand assets are like MasterCard commercials: they’re priceless.
My Asset is Distressed
Hey, we get it and we’re here to tell you that you’re not alone. It’s natural to be hesitant or concerned about what to do next; we hear it all the time:
Q: What should I do if my house is underwater?
A: Be honest with us. Many times we can get the lender involved as they usually do not want to have to foreclose and may agree to take less
Q: What if there is a lien on my property?
A: Let us know. We will tell you if it is likely to be an obstacle
Q: What if I’m considering filing for Bankruptcy?
A: Let us give you an honest assessment of value before taking that step. Once you have bankrupted, the rules change
Q: What if the property is going into foreclosure?
A: Do not wait until it is too late. We need 30 to 45 days to market a property, and we cant help you if you call 2 weeks before the foreclosure
Good news for what may have seemed like bad news…these “issues” are music to an investor’s ear!
With the economic changes in real estate over the past several years, our more astute sellers are sending their assets to auction. Likewise, investors have learned the benefits of bidding on distressed real estate.
Hence, why auctions are so popular right now. Savvy buyers rarely purchase from agents these days. Auctions have become one of the most common ways to pick up an asset and our investors are gobbling up real estate.
My Business Needs Liquidating
We call it FF&E in the auction world. It stands for furniture, fixtures, and equipment and we’ve done everything from door manufacturing plants to commercial grade security systems to movie sets. Some of our best buyers are second-hand FF&E distributers and will generally pay a pretty penny to snatch up these goods in bulk.
I want to clean up my portfolio
There’s nothing better than cold hard cash. For many of our sellers, they are ready to stop the bleed of property taxes and other expenses to free up cash and invest in other projects. Whether you’re tightening up your investment portfolio, raising money for other investments, or require funds for pay off creditors, the auction method is a sure-fire way to raise cash as fast as possible.
I want to raise money for my foundation/charity
Bake sales are nice and sweet, but they may not provide the big donation dollars that a successful auction could bring. We understand the value in strategic auction fundraising and can help guide you through the most effective auction methods from A to Z.
A list of questions to ask yourself before considering the auction process:
- What will I do with the money I free up from the proceeds of a quick auction sale? (Give the money to a charity, family members, do something for myself, or make a better investment?)
- Can I afford to hold on to this property and have ongoing liability, expenses, taxes, assessments etc.?
- How much of my time have I spent dealing with this property? Can I spend it on fun stuff? More productive pursuits?
- Will the property lose value if I continue to hold onto it? Am I better off selling now?
- Will selling the property be a good way to dissolve a partnership? A lingering asset from a previous marriage?
- Am I under pressure from my company to have an exit strategy for underperforming or poorly performing assets?
- Is there a lot of interest in this property? If so, do I dare to set a price and risk selling it for less than it may bring in a truly competitive sale?