Selling Your Farm or Ranch by Auction: Why Choose an Auction?
By J.D. Hewitt
When it comes to selling your farm or ranch, a lot is at stake. In the decision-making process of finding answers for the “when” and “how” questions, it’s important to know your options well.
While private treaty sales are quite common, auctions are often an overlooked possibility. Land auctions can be a very practical and innovative method for the sale and transfer of real property. Not only that, but they also provide a convenient alternative to private treaty sales and can expedite the process of transferring real estate ownership.
If you’re looking to sell your land, an auction can be a great choice for many reasons. First, an auction provides sellers with a time-certain option for the sale and closing of their real estate property, which can save valuable time and allow you to get on to the next thing in your life. Secondly, auctions bring together all prospective buyers at the same time, which ensures that the property is available to all who are interested and can retrieve a competitive market price.
Another great reason to consider an auction is to consider the advantages it provides to prospective buyers. In our experience, auctions are the preferred method for many buyers. The auction method of sale offers prospective buyers the invaluable opportunity to act on a property sale in real time. With this advantage, buyers will know exactly what it will take to be the successful bidder on land for sale and can keep track of the competing bid price. Auctions help to avoid lengthy negotiations and find exactly what you’re looking for in the shortest amount of time. Alleviating these hangups in the buying process make it easier to attract the right buyers for your farm or ranch.
Auctions have another advantage, for which we can thank the mobile-friendly world in which we live. Online auctions make it possible for anyone to attend, even when physically attending the sale is impossible. If a buyer is unable to attend an auction for any reason, be it geographic or a scheduling conflict, the possibility of online auctions are a big convenience factor. At Hewitt Land Company, auctions are held live online so prospective buyers can bid on property either on-site or on-line. We also allow buyers to place a pre-sale bid in the event they are unavailable on the day of the auction.
Are you interested in learning more about Hewitt Land Company’s premium auction service? We would be glad to be of help as you consider options for the sale of your property. Additionally, we would be happy to provide a free, no-obligation risk assessment for your property.