What goes up may not come down! As in this case!

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Via Wanda Kubat-Nerdin (Prado & Kramer Real Estate, St. George, UT 435.632.9374):

What goes up may not come down! As in this case!What goes up may not come down! As in this case!

A beautiful, custom-built 3,000 square foot home was scheduled for auction in several weeks, the starting bid set at $25,000.00. The interior boasted granite countertops, gas fireplaces, city-scape kitchen cabinetry, jetted tub and ceramic tile.

Now that being noted, I received a phone call from an interested party asking, “Do you think the bank will accept $25K if the bid goes no higher than that?” My answer was simply “No”. I was then asked my opinion on how much it would sell for. I replied, be prepared to “GO HIGH!” because once the price starts going up, it will not come back down. Plus most banks require cash up front and a quick close.

  • Typically when you see this type of advertisement, it is used to gain the attention of many potential buyers looking for a screaming deal.
  • What ends up happening is the price gets pushed up, up up, by multiple bidders in a frenzy to gain possession.
  • And what started out to be an unbelievable price is now closer to market value. The bank may be satisfied with the outcome or simply decline all offers if the price is not high enough.

A bank auction is not for a meek, mild individual. It requires buying power and an experienced professional who is both market savvy and competent while representing a client’s best interests. In my opinion, hiring an experienced REALTOR® is a smart move in the right direction.

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http://www.relocateamerica.com/utah/cities/saint-george

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About susanmorrison

After living in Walpole, MA for many years, our family was transferred to the west coast when I was a senior in high school. In 1983, I graduated from Mission San Jose High School in Fremont, California. I am also a 1987 graduate of Providence College with a major in liberal arts and a minor in business administration. I bring to the table many years of sales experience beginning with thirteen years in Corporate Sales at Delta Air Lines. I'm the mother of three children and I'm very active within the Franklin, MA community. I am also a cancer survivor and support the American Cancer Society Charities.

My husband and I have built five homes and I've lived in a variety of other locations including Toronto Canada, Irving Texas and my current home in Franklin, MA. As a result of all my moving around, I came to the conclusion that I was an expert at moving...why not become an expert on the other side of the table? I earned my real estate license in 2004 and believe that I have found my true niche'. I can empathize with my clients on a variety of levels; whether they are buying or selling. And, like so many other good realtors out there, I believe that possessing good communication skills is one of the many keys to success.

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