What are the Steps to an Auction?

1. At your request, an Auction Specialist from Chaffin Light Real Estate will meet with you to confidentially discuss the possible sale of your property using the Auction Method of Marketing. After meeting with you to discuss your goals, we will make the decision to proceed with the Auction Method or to suggest the traditional listing approach.

2. Once the auction type is selected, an aggressive marketing plan specific to your property is outlined.

3. A date and time is selected for the auction to take place. Usually this is scheduled just 4-6 weeks after the contract is signed. One or two open houses (previews) are normally planned prior to the auction.

4. The contract is signed. It emphasizes that we work exclusively for the seller. All the details of the transaction are included.

5. All information pertaining to your property, such as Property Disclosures, Home Owner Covenants, Surveys, etc. are gathered for us to create a bidders package.

6. At the open houses the potential buyers are provided a bidder's package. They can bring qualified contractor's to do any inspections they feel are necessary. They can ask us any questions about the property and/or the bidding process. We are there to serve and make every potential buyer comfortable.

7. At the auction, the potential bidders must have a cashier's or certified check for a pre determined amount. Without this, they cannot participate in the auction. They receive a bidder's card with a number that is used when a bid is placed.

8. The auction takes place by an experienced auctioneer who are trained to encourage the potential buyers to competitively bid.

9. The purchase contract is signed by the winning bidder and we open escrow.

10. Escrow closes in 30 days or less. If it doesn't close, the buyer's deposit is forfeited.