1.Make Sure Your Property is Suitable for Auction:
Below is a list of properties suitable for auction:
Lender REO Properties
Properties that require a sale in a definite timeframe
Properties that would benefit from a fresh approach to selling
Unique properties
Residential investment properties
Commercial investment properties
Properties in need of improvement
Properties with development potential
Commercial properties
Land
Please contact us and we will help you determine if your property is a candidate for an auction. Below is a list of properties that are suitable for an auction.
2.Terms and Conditions:
Given that each transaction is unique, the terms and conditions of each property may differ. Therefore, each property will have separate terms and conditions at auction. Below is a link to a SAMPLE of what can be expected in the terms and conditions for a property.
We will schedule preview dates for your property They will be hosted by TexTerra staff members and all visitor contact information will be collected. We will use this information to contact and remind interested parties of the auction date. These viewing times will allow potential buyers to inspect the property and perform their due diligence.
Scheduling an auction creates urgency and interest for you property. The announcement of an auction and date can generate phone calls from interested parties who may want to make an offer on the property before it goes to auction. Any offer we receive on the property will be immediately communicated to you by Tex Terra Realty, your listing broker.
TexTerra Auctions1601 W. 38th. St., Suite 208 Austin, Texas 78731512-419-9052www.texterraauctions.com
6.Auction Day
On the day of the auction, the auctioneer will read the terms and conditions of the property prior to the actual auction to make sure everyone in attendance is aware of all of the terms. At the conclusion of the auction, the successful high bidder will be required to sign a Purchase and Sale Agreement. The earnest money, being held by the on-site title company and necessary for any buyer to attend the auction, will become "hard" immediately. The buyer will typically have up to thirty days to finalize the purchase.
Make Sure Your Property is Suitable for Auction:
