Horning Auction Group

FAQ

If I put my property up for auction, do I have the right to refuse the bid?
On a "minimum bid" auction, you have the right to refuse offers below the minimum bid level we set in advance. On a "reserve" auction you have the right to refuse any bid.

Will we still have to consider a contingent contract?
Everything that we sell at auction is sold "As Is" "Non Contingent", with a thirty day projected settlement date and the buyer paying all allowable closing costs associated with the sale.

Does "As Is" mean that I don’t need to disclose any known defects?
Although we are selling "As Is", we must abide by applicable state and federal laws. The seller will still complete all required disclosures required in order to prepare for the sale of the property. The auctioneer will offer full disclosure to all interested parties in accordance with these laws.

Why should I sell my property using the auction method?
To accelerate the sale of your property by generating additional consumer interest and activity. Non-contingent contracts and thirty days settlements are required of all buyers of auctioned properties. This means a quick transaction for you.

Can I attend an auction before agreeing to sell my home through the auction method?
Certainly, we encourage your attendance and would be pleased to have you experience a live auction process firsthand. Just talk with the auctioneer about our upcoming schedule of auctions. Remember each and every auction is different, so it is impossible to assume that your auction will be exactly like the one that you attended.

My sales associate has had no previous experience with auctions. Will this impact my results?
No, the auctioneers who conduct our auctions are auction specialists and have their own team of individuals who are experienced in handling all aspects of the auction and its marketing efforts.

The property is priced below the market right now. What it is going to mean if I register for an auction?
Often times we find that the price is not the issue in why a property has not sold. The primary cause for it not selling is often that there has not been adequate traffic and therefore, sufficient interest in the property. In other words, it has become “stale” on the market. The auction process is the best way to revive interest in the property and instill excitement that will result in a positive sale.

What types of property do you sell?
We auction all types of real estate from condominium, co-ops, townhouses, single family dwelling, land, vacation properties, commercial and investment properties to high-end premier properties and county estates.

How many people will attend my auction?
There is no way to determine that fact prior to the day of the auction. It only takes two people to have an auction. Each event will always have a different number of bidders.

How will people get an idea of how much my house is worth?
The auctioneer will present comparables the day of auction for the bidders, and is also skilled in questioning prospective buyers and asking them to seriously consider what they feel the property would be worth to them, letting the market determine what the property is worth and creating competition between bidders will drive the price to the true value of the property.

How is my property marketed by the Horning Auction Group?
Our auctioneers aggressive auction marketing program includes some or all of the following: Brochure, Direct mail, Internet exposure, Classified advertising, Major and regional newspaper advertising, Business and investor newspaper advertising, Company-wide auction announcement, Auction signs, Auction day staff