Online Land Auction

Only 13 days left on this auction ...
Bid online today !​

FYI...the site is down until Mondy.


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Shelly,

Thanks for the heads up -- we were unaware of this.
If anyone would like to see the lots while the auction site is down,
They can click these links:

LOT 17 Central 7th Street

LOT 18 Central 7th Street

Opening bid on each auction is $46,500.

are the two auctions absolute if the bids are above minimum bids? I know there are similar lots in that area which are priced less than the asking price of those two lots.

SJ,

To answer your question, No, these are not absolute auctions ---
Meaning there is a reserve price (and the reserve is different than the asking price). However, the owners are negotiable and would certainly be willing to entertain any offers even if the offers did not reach Reserve price. So, come on folks, don't be shy --- make an offer, you just never know what might stick

Thanks for the reply. Is the reserve price different from the minimum bid?

SJ,

Yes the Reserve price is different from the Minimum Bid.
The Minimum Bid / Starting Bid / Opening Bid is $46,500 for each lot.
The Reserve Price is private and is an agreed upon number set by the sellers in which they are willing to sell the lots. We can tell you that the Reserve price is less than the MLS Asking price of $80,000 each.
Thank you for the opportunity to clarify this information.

SJ,

To answer your question, No, these are not absolute auctions ---
Meaning there is a reserve price (and the reserve is different than the asking price). However, the owners are negotiable and would certainly be willing to entertain any offers even if the offers did not reach Reserve price. So, come on folks, don't be shy --- make an offer, you just never know what might stick

If the owners would, "entertain any offers," why would they not have an absolute auction? I think the owners are just testing the waters, this is really just another way of marketing the property.

Sberry123,

The owners chose an auction with a Reserve Price as opposed to an Absolute auction where the property sells regardless of price. Yes, we did say to make an offer as you never know, but the sellers are not in a position to take whatever someone throws out - They do have limits as to how low they can go and they are not in a distress situation where they have to take whatever they can get. Certainly, as you say, this is another form of marketing but it is also an opportunity for a buyer to purchase at a discounted price.

Sberry123,

The owners chose an auction with a Reserve Price as opposed to an Absolute auction where the property sells regardless of price. Yes, we did say to make an offer as you never know, but the sellers are not in a position to take whatever someone throws out - They do have limits as to how low they can go and they are not in a distress situation where they have to take whatever they can get. Certainly, as you say, this is another form of marketing but it is also an opportunity for a buyer to purchase at a discounted price.

Whatever the buyer, "thows out," would be the true market price of that property today. It is still obvious with the amount of inventory that really is not budging much that prices are still too high. And the buyer seller stalemate goes on and on and on.

FYI...the site is down until Mondy.


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The website is now up & running again - 10 days remaining.
Click here to view the auctions: Lot 17 & Lot 18