Real Estate Auction- Multi Parcel Method

It has been proven that there are many benefits for both sellers and buyers to use the auction method when buying or selling real estate. From timing, control, commission structure, todays market value and the convenience of having the transaction be offered to a large pool of qualified potential buyers on the day of the auction, whether online or in a live auction atmosphere.

When there are multiple real estate parcels to be sold at auction the multi parcel auction method is a great option to use. This method allows buyers to bid on and buy one parcel, any combination of parcels being offered or bid to buy all the real estate parcels together. The caveat is other qualified bidders can advance the bid on any parcel combination as well, making the competition tougher to be the successful bidder. Sellers benefit from the multi parcel auction process because their real estate sells for the maximized priced being offered that day.

Although the real estate multi parcel auction method may seem complex for the inexperienced auction buyer most auctioneers use a computer program, which they display for the crowd, indicating the current high bid on each parcel and combinations of parcels along with what bid is needed to advance the bid on those parcel options.