Real Estate Auctions

A real estate auction is an innovative and effective method that Nor Ontario Auctions offers to sell real estate.

Real estate auctions are a win-win scenario for everyone involved. It is an accelerated real estate marketing process that involves the public sale of any property through open competitive bidding.

Benefits to the Buyer

  • Competitive bidding allows for smart investments, since properties are usually purchased at fair market value.
  • The buyer knows the seller is committed to sell.
  • In multi-property auctions, the buyer sees many offerings at once.
  • Buyers determine the purchase price.
  • Auctions eliminate long negotiation periods.
  • Auctions reduce time to purchase property.
  • Purchasing and closing dates are known.
  • Buyers are competing fairly and on the same terms as all other buyers.
  • Buyers receive comprehensive information on property via due diligence packet.

Benefits to the Seller

  • Buyers come prepared to buy.
  • Requires potential buyers to pre-qualify for financing.
  • Quick disposal reduces long-term carrying costs, including taxes and maintenance.
  • Assurance that property will be sold at true market value.
  • Exposes the property to a large number of pre-qualified prospects.
  • Property is sold within a relatively short period of time.
  • The seller knows exactly when the property will sell.
  • Auction price can easily exceed the price of a negotiated sale, due to competition among buyers during an auction.
  • Eliminates numerous and unscheduled showings.
  • Takes the seller out of the negotiation process.
  • Ensures an aggressive marketing program that increases interest and visibility.