How long will it take to sell my property?
It typically takes 30-45 days from signing the contract until the auction date.
Can I set a reserve price for my auction?
Yes. You can either auction your property as an Absolute Auction or as a Reserve Price Auction. An Absolute Auction does not have a minimum set price, which guarantees the property will be sold that day. A Reserve Price Auction allows the seller to set a minimum price that they are willing to accept. If the price is not met, the seller does not have to sell the property.
Is there a seller’s fee?
The seller’s fee is negotiated on a auction by auction basis. Please contact us for more information.
How much does it cost to auction my property?
It depends. You are responsible for the upfront advertising costs. These costs are typically 2% of your Reserve Price. Please contact us to discuss your specific costs to market your upcoming auction.
Are there closing costs?
Yes. The seller pays all closing costs which generally total at least $1500 including title exam, title policy, closing fee, filing costs, and any other fees noted for the sale.
Is the down payment deposited?
The winning bidder’s down payment is deposited into Believe In Auctions, LLC’s premium trust account.
When do I turn over the keys?
No, access or keys are only provided after the closing. The closing date is typically 30 days or less from the auction date. If a professional needs access prior to closing, they should contact Believe In Auctions to arrange access.
Will I know if a property has met its reserve price?
After a property reaches its reserve price, the auctioneer will announce that the reserve price has been met and the property will be sold that day.
