Real Estate Auction Options Principal Gary Gilbert discusses luxury real estate auctions for both sellers and purchasers.

Pre-Selling a Luxury Home Offered at Auction.

By Gary Gilbert on
Gary Gilbert
I have been involved in multi-millions of dollars worth of luxury real estate au
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Today, let's touch on the subject of the pre-sale as it relates to luxury home auctions.  Just like it sounds, a pre-sale occurs when a property offered at auction sells prior to it's scheduled auction.

So, why would this happen?  In most cases, it happens when someone who is very interested in a property offered at auction prefers to negotiate pre-auction instead of bidding at the auction itself.  In many cases, one does not want to get into a competitive bidding situation on sale day and has a personality that would rather purchase in a more traditional way.

The magic the auction method offers that the traditional method of sale does not is the date-certain event which forces buyers to a point of action.

So, how often does a property pre-sell?  In my many years of experience in the field, I would estimate that this happens about 10-15% of the time.

What other questions do you have regarding non-distressed luxury real estate auctions?  I'm happy to answer them for you.  Reach out anytime.



Tags: pre selling a luxury home, luxury real estate auctions, luxury home auctions, pre selling a luxury home


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