The Auction Story
Why choose an Auction
Auctions247365.com, successfully provides the forum wherein serious Sellers can take advantage of their need to immediately convert their Real Estate, REO Portfolios and Financial paper as well as many other portfolio products into hard currency, thus bypassing older and slower marketing methods as well as the stagnation in the present economy. Auctions247365.com’s unique trading platform gives our serious Sellers access to trade their Inventory of diversified portfolios in financial instruments and real estate to the whole world of financially qualified buyers in the world wide market place 24 hours a day 7 days a week.
Types of Auctions:
You can choose from many options when styling an auction to fit your specific needs because auctions come in many styles and hybridizations but here within Www.auctions247365.com we will always and unconditionally keep your choices simple; here are your choices and brief definitions:
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ABSOLUTE: All products are auctioned off to the highest last qualified bidder; see Tab 4 Auction Types for complete description and definition under Absolute Auctions.
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Reserve: All products are auctioned off to the highest last qualified bidder, but subject to the reserve posted prior to the auction with the auctioneer and/or subject to the Seller’s confirmation; see Tab 4 Auction Types for complete description and definition under Reserve Auctions.
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Dutch: All products are auctioned off to the highest last qualified bidder, but in this case there is only one bidder at any time, first last and qualified and bidding paces itself against a clock; see Tab 4 Auction Types for complete description and definition under Dutch Auctions.
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Sealed bids: All products are auctioned off to the highest last qualified bidder, but this is done in stages, 1st stage being that all bids are due by a specific targeted calendar date and then opened all at once, secondary bids are solicited and again a target date is selected and continues until a final winning bid is declared, see Tab 4 Auction Types, for complete description and definition under Sealed Bids Auctions.
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Penny Bid Auctions: All products are auctioned off to the highest last qualified bidder, but this is done via non-refundable deposits and a time clock, all products are sold after the clock's expiration; see Tab 4 Auction Types, for complete description and definition under Penny Bid Auctions.
Why Auctions Work:
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OUALIFIED BUYERS ONLY,
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ALL BIDDERS MUST SIGN AN NDA
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ALL BIDDERS MUST SHOW PROOF OF FUNDS
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ALL BIDDERS MUST BE PROPERLY REGISTERED
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ALL PURCHASE AND SALE CONTRCATS ARE FINAL ON THE EFFECTIVE DATE,
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NO BACKOUTS
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NO FINANCING CONTINGENCIES
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NO INSPECTION CONTINGENCIES
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NO SOFT ESCROW, ALL DEPOSITS ARE NON REFUNDABLE
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CLOSING TAKES PLACE WITHIN 30 CALENDAR DAYS
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ONLY CASH DEPOSITS
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QUALIFIED SELLERS ONLY
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MAXIMUM 120 DAY MARKETING AND SALE SCHEDULE
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PRE-AUCTION QUALIFIED PARTIES ONLY MAY ACCESS DUE-DILIGENCE AND PROPERTY INFORMATION BY QUALIFIED BUYERS
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FREE REGISTARTION, BIDDERS MUST DECLARE FINANCIAL INTEGRITY, EXPERIENCE AND UNDERSTANDING OF INVESTMENTS
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BUYER PAYS ALL CLOSING COSTS
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BUYER PAYS/FUNDS ALL COMMISSIONS
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ON LINE MARKETING FROM A PROFESSIONAL PROPRIETARY SITE
The Auction History:
The oldest profession is not what you think it is. Auctioneering is the world’s oldest profession bar none. From the beginning of recorded history, one profession, Auctioneering, amongst all others was the beginning and in some cases the end for many peoples and nations throughout Biblical and Historical times since, the founding of a Semite GOD, 5726 +/- years ago. Auctions have been the way to go to raise money throughout history. By the way, the other world’s oldest profession is number 3 not number two, slavery came before prostitution.
Why Auctions and why Auctioneering? Simply put then as in today’s world economics and war are the main reasons. Then as now economics and war have been tied together like Siamese twins since the dawn of recorded time. Neighboring countries invaded other countries built upon the strength of their armies and military forces weighted against the economic needs of the ruling class and/or the subject nation needing supplemental income. If a neighbor produced more grains and you needed them, if you had a strong military you could coerce or take whatever economic plunder you decided to with the threat of or the actual use of the sword. More often than not immediate economic consideration was followed very closely by greed and the need to satiate a monarchy’s desire for additional wealth in the form of treasure be it gold, silver, silk or exotic animals and skins as well as human flesh,
The problem was how do you pay for the military exploits of flexing your military muscle, being successful and then bringing all of that plunder home? The answer is, once the monarchy has taken their cut you auction off the rest of the merchandise and material to the highest bidder, that’s right the highest bidder, no reserve, Absolute at AUCTION, everything goes! So that is what they did it, conquering ruling monarchies ran auctions; beginning with the Bedouins, then Canaanites, Pharaoh, Philistines, Persians, Chinese, Indians, Mesopotamians, Greeks, Romans, Gauls, Moors, Arabs, Spaniards, English, Germans, Russians, the list goes on, all the same way, at ABSOLUTE Auctions, no reserve.
The world’s oldest profession, Auctioneering meant conducting an auction to which the whole of the public was invited; no financing just cash or the realm’s cash equivalent of the time. Conquered people became house servants, laborers as well as expendable performers, prostitutes, exhibitionists and military members - soldiers; it was just the accepted way of things, all through an auction. But again, why auction? Because if you wanted to establish mark to market pricing based upon the price any one thing or item was worth to the assembled group of interested buyers operating as bidders, all attending one specific auction, that was the way an item was valued, priced and then sold, by, through and at auction. An auction was the only way to get multiple bidding/offers which affirmed any products’ true current value.
Today we have replaced the open air auction arena or marketplace with enclosed buildings, located in many of the largest and most populated cities in the world. Therein they call these buildings and enclosed arenas, stock, commodity and bond markets and they trade everything by auction; peanuts to copper; platinum to oranges; dollars to Euros, IBM to Yahoo and more, much more!
The Auction History:
Still, in our chaotic economic world of today, even the governments driven by the same economic needs all of the world governing bodies depend entirely upon the absolute auction methodology and process to price to fund their own unique economies and treasuries. Auctions identify without prejudice, the current market value and via the auction method, sell by auction their individual Tax Bonds and Treasury Paper to each other or to private citizens worldwide; all at Absolute, NO RESERVE Auctions. The NYSE and the NASDQ is the biggest, longest running modern ABSOLUTE AUCTIONS ever conceived or practiced and there is no end in sight as to how long they will run continually. Treasuries selling at a market price created by bidders that identify what that Treasury Paper is worth to them strictly based upon faith, that’s right faith, not gold or silver. The U.S. economy and its ability to sell Treasuries is solely based upon its’ productivity as well as the “Good Faith and Credit of the United States and the United States Government” and all of its parts; its military muscle identifying its ability to enforce its Faith and the great strength of its economy which identifies and fortifies its Credit.
So again, why auction? Because there is no other selling methodology in the world that can produce a truer, unbiased, stated value and desired result; There is no better or more accurate barometer of mark to market valuation, as identified through the Auction marketing and subsequent sale of any item or product which is accurately identified through a competitive compilation of offers accumulated in one short prescribed span/window in time that produces a winner or group of winners known as buyers under an auction banner without malice or forethought just honest self calculated value to the individual auction bidders themselves. Auction attendees at these modern day trading arenas are all educated bidders/consumers. You cannot assemble a better educated grouping of peoples with any other marketing approach to selling using any other selling methodology of any product anywhere else at anytime; buyers and sellers coming together and within the blink of an eye trading and transferring billions of dollars as to worth of goods and material based upon theoretical as well as factual values calculated and determined by a bidder not a seller or a computer. If you want to sell something quickly, professionally, with true stated accurate current market value then you had better auction it, Auctions clarify and identify instantly correct true market value every time. The United States has to fund a multi Trillion Dollar deficit every year and the U.S. Government depends on Treasury Bill Auctions, held weekly and without reserve by which to accomplish this world wide vital and necessary feat to preserve world order.
Think about it, over 5726 years of proven marketability that works every time even when the answer is, “NO”, no bids, no value at this time. More often the answer is repeatedly “YES”, the hammer falls and the title of ownership changes hands; that is a true statement of actual value on that given day at that given time. You can’t beat that record anywhere. Auctioneering is the world’s oldest profession because it works and pays to sell your products by auction; just ask Julius Caesar, ask King Ferdinand of Spain, ask Queen Elizabeth I or maybe even ask the G-8, how do you fund your specific needs when it comes to financing each and every member’s homeland and the answer is, Auction. That shows a lot of confidence in the world’s oldest profession and the world’s oldest marketing force, Auctioneers in and Auctions.
Ask us how, TODAY!
EXAMPLE I
Property Sold Through Conventional Marketing:
1. Pre-listing – 5-10 days: => Appraisal, BPO, CMA and analysis of property
2. Listing, data collection – 4-7 days: => Listing MLS
3. Advertising/Marketing 30-90 days:
4. Respondents, 30-45 days: => Interested Parties registration, runs concurrent w marketing
5. Contracts/LOI, 15-30 days:=> Contract Negotiation prelims
Runs concurrent w Respondents
6. Contracts/LOI Confirmed 15-45 days: => Soft Escrow Due Diligence
7. Contracts 30-90 days: => Hard Escrow
Runs concurrently following expiration of soft due diligence
8. Contingencies that may apply:
Mortgage financing
General Financing
Sale of other property
Inspections
Appraisals
Attorney Review
Title/ lien search
Environmental review(s)
9. Closing: – from listing to closing 180 days +/-
EXAMPLE II
Property Sold Through Conventional Marketing
1. Pre-listing – 5-10 days: => Appraisal, BPO, CMA and analysis of property
2. Listing – 4-7 days : => Listing MLS, 44 days
Conventional process
3. Advertising/Marketing 15-90 days: => conventional
runs concurrently w initial listing date
4. Respondents, 15-45 days: => Interested Parties registration
runs concurrently w initial listing date
5. Auction on line 45 days: => listed in MLS as on-line auction runs concurrently w initial on line listing date
6. Due Diligence, before auction: => Part of marketing process
runs concurrently w initial on line listing date
7. Respondents on line Auction: => Part of registration process
runs concurrently w initial on line listing date
8. Sales, conventional, Contracts received prior: => Anytime from the listing date, all contracts are hard escrow non-refundable upon the effective date, (generated by MLS or other selling methods at auctions247365.com must close by 89th day
9. Sales Contracts received prior: => Anytime from the listing date, all contracts are hard escrow non-refundable upon the effective date, no contingencies, escrow must be at least 10% of the P&S Contract
10. Sales Contracts received prior: 30-90 days=> Auction day/date, all contracts are hard escrow non-refundable upon the effective date, no contingencies, escrow must be at least 10% of the P&S see terms & conditions, applies to on line auctions
11. Sweep Auction 90th day: => All unsold REO or Financial Instruments swept into an on-site or Ballroom auction Absolute.
12. Closing: 30 days post auction date, 30 – 120 days listing to closing, qualified buyers only, real deposits, and no contingencies, no outs.
EXAMPLE III
Property Sold Through Conventional Marketing
1. Pre-listing – 5-10 days: => Appraisal, BPO, CMA and analysis of property
2. Listing – 4-7 days: => Listing MLS as an auction on line
3. Advertising/Marketing 15-90 days: =>
Runs concurrently with initial on line auction listing
4. Respondents, 15-89 days: => Interested Parties registration
Runs concurrently with initial on line auction listing & marketing
5. Due Diligence, before auction: => Part of marketing process
Runs concurrently with initial on line auction listing
6. Registration, Respondents Auction: => Part of registration process,
Runs concurrently with initial on line auction listing
7. Sales Contracts received prior: => Anytime from the listing date, all contracts are hard escrow
non-refundable upon the effective date, (generated by any on line auction method or other selling methods at
auctions247365.com
Runs concurrently with initial listing on line auction
8. Sales Contracts received prior: 30-90 days => Auction day/date, all contracts are hard escrow
non-refundable upon the effective date, no contingencies, escrow must be at least 10% of the P&S see
terms & conditions
Runs concurrently with initial listing on line auction
9. Sweep Auction – On Site or Ballroom: => All non sold REO or Financial Instruments swept into on site or
ballroom setting for final auction disposition
10. Closing: 30 days, or sooner, post auction date, 30 – 90 days listing to closing, qualified buyers only, real
deposits, and no contingencies, no outs, escrow must be at least 10% of the P&S see terms & conditions
Listing to closing in a maximum of just 120 days.
WHICH ONE example WORKS BETTER FOR YOU?
AUCTIONS DO! We do!!!
