Benefits To The Real Estate Agent
- Real estate agents can earn commissions by working with auction firms.
- Real estate agents can expand the services they offer to sellers and buyers.
- Real estate agents can supplement their current business by representing clients at real estate auctions real estate agents also can develop a new market niche.
- A real estate auction can expose a property to many qualified buyers.
- Properties advertised through auction are sold within a relatively short period of time.
- Successful auctions can generate referrals and repeat business.
Benefits Of Real Estate Auctions
As a marketing strategy, the real estate auction provides a distinct array of benefits and advantages.
Required Listing Form for Auction LIstings:
- High seller holding costs are eliminated.
- The seller sets the terms and conditions.
- The seller can be assured that the property will be sold at true market value.
- The seller knows when the property is expected to sell.
- The time to market is reduced.
- The requirement to have numerous open houses and property showings is reduced.
- The property is exposed to a large number of pre-qualified buyers.
- An auction creates competition among buyers.
- Buyers make a firm decision about the property.
Welcome To Fisher Auction Company
Complete service with honesty and integrity provide the foundation for creating the Standard of Excellence the corporate benchmark embraced by Fisher Auction Company for over 50 years of continuous business. Fisher was established in 1967 as a family owned and operated business and has grown to be a dominant national firm in the auction industry.
Fishers services include Auctions and Conventional Transactions of Real Property, Notes, and Portfolios. We also provide consulting services and affiliated divisions for Receiverships and Property Management. Fisher has been consistently ranked in the top tier of Auction Marketing Firms in North America having conducted successful sales initiatives in 46 States, Puerto Rico, Mexico and the U.S. Virgin Islands. Through its affiliations with major industry associations, Fisher Auction Company offers services with excellent proven results.
Fisher is currently owned and managed by third and fourth generation family members. Our Chairman and Founder is a distinguished member of the National Auctioneers Association Hall of Fame and our President / CEO is the former Mayor for the City of Pompano Beach, Florida and is current Broward County Commissioner. Fisher is dedicated to a superior code of ethics with the highest degree of professionalism. Fishers reputation has and continues to be built on one successful Sale and Auction at a time.
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Benefits To The Buyer
- The seller is motivated to sell.
- An auction reduces the time to purchase property, including negotiations.
- There are no contingencies because the terms are known.
- The buyer may receive favorable financing.
- Buying real estate at auction is an exciting method of purchase for many.
- Buyers compete fairly and on the same terms as other buyers.
- Buyersnot sellers, agents, or appraisersdetermine the propertys true market value.
What Is A Real Estate Auction
A real estate auction is an innovative and effective method of selling real estate. It is an intense and accelerated real estate marketing process that involves the public sale of property through open and competitive bidding.
A real estate auction is an effective way to achieve a sale in a specified time frame.
Although real estate auctions were typically regarded as a sales method of last resort for residential properties in distress, auctions can be beneficial for many types of real estate, including:
- New-home construction
- Agricultural land
- Commercial real estate
Auctions can be an effective marketing tool in both strong and soft real estate markets.
Sarasota Clerk And Comptroller
A foreclosure, also called a judicial sale, is a court-ordered process of selling real property at public auction to recover an amount owed in a civil final judgment. The process is governed by Chapter 45 of the Florida Statutes and the Florida Rules of Court.
To bid on real property at a foreclosure auction, you must:
- Create an online auction account
- Deposit guaranteed funds into your online auction account to use as a non-refundable deposit.For information on type of accepted guaranteed funds, consult our Property Auction FAQs.
Anyone can bid on real property at a foreclosure auction.
Why Are Foreclosure Homes Cheaper To Buy At Auction
There are many reasons why this is the case. It might seem like this would not be true since the current owner can owe as much as 180 days of payments on the home, but the reality is that the lender is not motivated to take ownership of the home. This will cost them more money than the missed payments that are owed on the property.
The other factor that motivates banks to sell homes for less than market value is that there are often liens and other fees that need to be paid for the property that the new owner will have to pay for. This will add to the overall cost of the property and might scare away any buyers if the fair market value was asked for the home and then the fees and lien charges were lumped together for the sale.
One of the other reasons that a foreclosure property might be cheaper is that many of these properties have suffered neglect or outright vandalism at the hands of the current owner when they started to be unable to pay for the home. Some people will be so angry at their lender that they will actually damage the property as a way to express their displeasure.
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Buying A Foreclosure Home In Florida Can Be A Blessing Or It Can Be A Curse
At the end of the day, the more than you know about a home that is being foreclosed on, the more educated you will be about the possible costs related to restoring and purchasing the property in question. It is an all-too-common story to hear that people have bought a foreclosure just because the purchase price was so reasonable, only to find out that there is an entire list of other costs that they did not know they would have to pay for the home.
If you are thinking of buying a foreclosure, always make sure that you do your research, get the help of a realtor if you think that you need it, and consider all of the many variables that can affect your ability to secure the home through a public auction. You might be buying a great house at a great price, but it is also possible to be purchasing a money pit that you will regret owning. The more you know about the process and the property itself, the more likely you are to be happy with the end result.
Buying a foreclosure home can get you the home of your dreams for a reduced price, but only if you shop carefully. One of the biggest ways to make this process more successful is having legal representation on your side each step of the way. Our team is experienced in real estate law and would be happy to guide you through the foreclosed property purchase process. Call us today at 866-868-0582 for a case evaluation.
Sign Up To Receive Notifications Of Surplus State Lands
The properties listed here are offered for sale. These properties may be sold by competitive bid or any other means authorized by Rule 18-2.020, Florida Administrative Code. If interested in receiving more information, contact the Florida Department of Environmental Protection, Division of State Lands/Bureau of Public Land Administration at 850-245-2555 or the agent listed by the property.
Please note that the Board of Trustees of the Internal Improvement Trust Fund of the State of Florida or other parties acting on behalf of the Trustees have the right to deny any application to purchase surplus land and also reserves the right to make a determination that a parcel shall be competitively bid. If more than one party is interested in a particular surplus parcel, that parcel will be sold by competitive sealed bid. In addition, all surplus parcels with a market value over $500,000 must be sold by competitive bid.
SPECIAL NOTE TO ALL APPLICANTS: Submittal of a complete application shall not operate to create any rights or constitute any grounds for the Department to recommend approval of any sale. The Board of Trustees has the authority and reserves the right to deny any application to purchase surplus lands. Applicants shall be responsible for all costs associated with the purchase of surplus lands. These costs include, but are not limited to, appraisals, surveys, title searches, state documentary stamp taxes, recording fees and all other closing costs.
SALES OF SURPLUS LANDS
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Be Aware Of Local Florida Area Laws And Neighborhood Rules Before Buying Foreclosed Property
The local law in your area can dictate how your foreclosure will be handled and what costs you will need to cover after you take possession of the home. You should know state and county laws that could affect your purchase so that there are no surprises that make the purchase stressful for you or burdensome financially. Most of these laws will have to do with evicting the current owners and liens on the property.
These kinds of laws can also affect how you are allowed to take possession of the home and the process by which you can take care of repairs and handle HOA dues. You should always look into every law and ordinance that might govern the local area and the neighborhood before you decide to go ahead and jump at the chance of buying a foreclosure home. Imagine moving in just to be able to build a pool or park your camper in the driveway, only to find out that neither of these things is allowed per the neighborhood rules!
Liens And Other Costs
There can be many costs that come along with your purchase of a home that has been in foreclosure. There may be liens on the property and you might have to pay back HOA fees in the neighborhood. There could also be costs related to asbestos removal and other factors that you cannot know about when you take possession of the property.
As with anything to do with a foreclosure purchase, there can be lots of surprises related to added costs, but you can find out what the lien might be since this is a matter of public record, and sometimes you can collect information about what the HOA fees for the neighborhood are per month. This can help you to consider this factor with some real information before proceeding with your purchase.
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How To Find A Foreclosure Auction
There are various sites online that will show you justforeclosure homes that are set to be put up for auction. This is often the best place to look for foreclosures in your local area and sites that are regularly updated will be your best bet. You still should know that not all of these sites are very current and you might inquire about many homes that have already been auctioned before you are able to finally find one to bid on.
You can also track down foreclosures through a third-party foreclosure agent who is also known as a trustee. Some people will also find homes that are being foreclosed on in their local area by simply driving by. You might be able to find out information about the foreclosure from a sign that has been placed in the yard of these homes, although this is not always how foreclosure is handled.
The Foreclosed Home Purchase Process Can Be Tough
Buying this kind of home might sound simple because you just pay at the auction and then take ownership, but there are lots of paperwork hoops that have to be completed before you can actually move into the home or start work on fixing it up. Some banks will take a long time to wrap up their side of the closing process and there might be issues related to documentation processes that can add weeks to the purchase process.
Be prepared to wait a while to move into your foreclosure home or to start repairs on the property. There are always a lot of variables that can be a factor that might slow down the overall purchase process with this kind of home purchase.
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What To Know When Purchasing A Home At A Florida County Or Foreclosure Auction
With the cost of housing skyrocketing, it can be tempting to many people to consider foreclosure purchases and auctions as the ideal way to get into a great home for a great price. This can be true, but there are some facts that you should know about this process before you embark on it.
Foreclosure auctions happen when a homeowner ceases to make payments on their home or property and the lender who holds their mortgage takes possession of the property to sell it. This means that the home will usually be sold for less than market value and the process will be done via an auction to be sure that the home sells promptly. These factors make it a much different purchasing process than if you were to buy a home that is for sale by the owner or through a real estate agent.
If you still think this sounds like the perfect solution for your home buying needs, read on for more information!
International Scammers Falsely Listing Florida Real Estate For Sale
International scammers falsely listing Florida real estate for sale
Real estate and law enforcement experts say land scams are becoming very common in hot real estate markets like Florida. Many of these land scammers are being traced back to Nigeria, Russia, or Eastern European countries, and data shows popular targets are often the elderly. They’re leaving many Floridians embroiled in paperwork and civil litigation trying to prove that their land was sold out from under them, or worse: trying to recoup money they spent on land that was never truly for sale.
Florida rent prices: Are they increasing or decreasing?
Rent prices are beginning to ease in large metropolitan areas following the recent crisis that forced many to pay astronomical prices for a place to call home. Although places in the U.S. are seeing a slowdown in rent prices, rental rates are still elevated in markets like the Cape Coral-Fort Myers area which saw a year-over-year rental increase of 17.16% and the largest premium of 17.37%. Researchers at FAU describe the premium as the amount above the long-term leasing trend that renters must pay.
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Know The Various Areas Of Florida And The Forclosure Property Market
It is always worth finding out if the area that you are looking at foreclosures in is a hot area that has a lot of investors interested in it. For some areas that have transitioned from solely residential, it can be possible to purchase these kinds of properties to put up office buildings or other kinds of businesses and this can draw in big investors who will bid on the auction alongside you.
Another consideration related to the process of buying a foreclosure in an area that is changing from a residential area to a more commercial one is that this might change the value of your property in the future. It would be a shame to buy a home for a fair auction price and then find out down the road that the value of the property is going to be much less than if it had been converted to a commercial property.
These considerations can be determined with the help of a realtor if you are not sure how to research this kind of question. You should always have at least some idea of the future land values of the property that you are buying, especially if you think that you will have to pay more than you might want to just to get ownership of the property.
Be Careful Not To Pay Too Much
You should always know what the market price and fair value are of the other homes in the area of foreclosure that you are thinking of buying. Being sure that you will not exceed the realistic value of the home and property during the process of fixing it up is important. After all, you will not be saving any money if the auction price of the property combined with the cost to repair everything that is damaged is more than the actual value of the home.
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The House Might Have Been Vacant And Vandalized Prior To The Foreclosure Auction
It is not uncommon to find that the home that you are planning to buy has been sitting vacant and was not locked up. This can lead to vandalism as well as squatters living inside the home. Make sure that you think about this because you might need to pay for exterminators to remove bed bugs and other vermin from your home and you might find that most of the home has been damaged by the unwelcome residents that have been living inside the house.
What Can You Do To Mitigate The Costs Of Buying A Foreclosed Home
There are some ways that you can help reduce costs for this kind of purchase. At worst, these steps will at least prevent surprises that might crop up along the way. Working with the right planning on your side when you are buying a foreclosure can make all the difference in your overall buying experience.
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