Smart investments are made as properties are sold through a competitive bidding process Buyers receive comprehensive information on the property through a bidder’s information kit The sale and closing dates are known Auctions eliminate long negotiation periods Buyers know the seller is committed to sell Buyers determine the purchase price Buyers know they are competing… Continue reading What are the benefits of a real estate auction?
A numerical listing of items available for sale at auction, often including detailed descriptions, quantities, and the terms and conditions of the auction sale.
An absentee bid is sometimes called a proxy bid. It is a convenient option for someone who is not available to bid in person or online on auction day. When you place a proxy bid, the auctioneer will bid on your behalf, up to and including the amount you specify as if you were present… Continue reading What is an absentee bid or a proxy bid?
A buyer’s premium is a fee paid by the high bidder. It is normally a percentage added to the high bid to determine the purchase price.
There are a couple of ways that you can be notified of our upcoming auctions: You may sign up for our customized email auction alerts. You can register for our auction alerts Here You may also sign up to receive social media updates by liking or following our pages: Facebook LinkedIn Twitter
No, but we do have an auction warehouse facility where we conduct consignment auctions.
Anyone can bid at Comly’s auctions. Our auctions are open to the general public and registration to bid is free.
The letter must be on official bank letterhead signed by an officer of that bank and it must state that the bank will guarantee payment of your check up to a specific amount for a specific auction or a specific period of time. An example of an acceptable letter of guarantee payment is as follows:… Continue reading What are the requirements for a letter of guarantee?
The high bid + buyer’s premium + sales tax = the total purchase price. The buyer’s premium may vary from auction to auction.
Each auction is different. If the items are taxable and the auction is a taxable sale, then we are obligated to collect the appropriate sales tax. The amount of the sales tax collected is normally dictated by the location of the assets being sold.