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Individuals unable to physically attend this auction may still bid by placing an absentee bid with us. You must submit the Required Deposit in certified funds along with the completed Absentee Bid Form (below) and the signed Real Estate Sales Contract prior to the auction date. We will then arrange for you to bid via telephone or bids will be placed by the Auctioneer on your behalf at the auction, based on the instructions in the Absentee Bid Form.
for first time Attendees
The following is a list of steps to follow when preparing to participate in an onsite auction. We hope they are helpful tips that make your participation in our auction successful and easy. If you are new to buying at auction, you will want to get familiar with a few of the basic terms.
DO YOUR HOMEWORK
Find out as much as you can about the property.
INSPECT THE PROPERTY
Take full advantage of any previews or special inspections conducted by Mike Nichols Auctions. This will allow you, or your representative, to see firsthand what you are bidding on and help determine value and desirability. A full inspection will allow you to bid with confidence.
Increase your comfort level by knowing your mortgage qualifications. Even before you decide on a property to buy, you should pre-qualify through your banker or mortgage company. There is never a mortgage contingency in a real estate auction, meaning the sale is not contingent on your ability to get financing. Generally, the terms call for the transaction to close 30 days after the auction. It is best to know what you can pay for the property before you bid. Now you can bid with confidence!
ATTEND A LOCAL AUCTION
Attend and observe one or more auctions and familiarize yourself with the process before you attend an auction as a bidder. The auction process happens quickly and knowing what to expect is important when your time comes to buy. If you can’t find an auction, call us at 501-590-9755.
REGISTER TO BID
On auction day, it is to your advantage to arrive at the auction site about 1 hour before the auction. By doing so, you will have more time to consult with on-site staff who are prepared to assist you with your last-minute questions regarding the property and the auction process. Upon completion of registration you will receive a Bid Packet containing your bid number, Terms of Sale, Purchase and Sale Agreement.
BRING REQUIRED DEPOSIT
If you are the successful high bidder at an auction, you will be required to affirm your bid with a signature and earnest money deposit. All deposits must be in earnest money form, i.e. cash, certified or bank check. Deposit requirements and amounts are clearly listed in the “TERMS” section of all Mike Nichols Auctions. advertising.
PREPARE FOR “Q & A”
Prior to the start of bidding, our auctioneers conduct a question and answer period. This is an opportunity for registered bidders to ask any last-minute questions before the auction begins.
…..until you have won or reached your limit. There can be only one winning bidder. You cannot BUY at your price unless you BID your price. Determine your bid limit after examination of the property and don’t be afraid to bid early. Most other bidders will be willing to pay just as much as you. GOOD LUCK!
The Real Estate Professionals at Mike Nichols Auctions are prepared to supply you with information, over the telephone at (501-590-9755), concerning specific properties as well as the auction process.
Seller FAQs / Terms
LET US WORK WITH YOU!
Auctions offer clients and customers new options and they enhance an agent’s image as a full-service professional. You will be adding a new and powerful marketing tool to your reserves of professional techniques. This is especially important as more and more property owners become increasingly interested in selling at auctions – and often as their first choice to sell their property. Selling real estate at auction is our specialty and we can set you apart from other brokers and give you a powerful and profitable competitive edge.
At Mike Nichols Auctions, you will be working with a firm that has a proven track record in real estate auctions. Our professionals are dedicated to marketing excellence and selling your property for the highest price possible. More & more real estate will be auctioned every year! Work with Mike Nichols Auctions and get your share of the commissions!
HOW DOES IT WORK? SIMPLE . . . REFER YOUR CLIENT TO US
We want you and your clients to continue to feel the comfort of a solid relationship. We’ll take care of all the auction details and you maintain a relationship while earning a referral fee.
LESS WORK . . . MORE MONEY
You don’t have to be an auctioneer to earn commissions. You can benefit from Mike Nichols Auctions extensive experience and promotional skills through increased sales and commissions. We do the marketing and conduct the auction event. You earn outstanding referral fees. Across America, Auctions enjoy a 95%+ closing rate.
WE WORK WITH YOU . . . NOT IN PLACE OF YOU
We will make you and your clients comfortable with the AUCTION METHOD. Don’t let unfamiliarity with the process stop you. Mike Nichols Auctions can make your auction simple and profitable, quickly.
Thousands of real estate professionals are earning millions using the Auction Method of selling real estate through affiliations with experienced, knowledgeable firms such as Mike Nichols Auctions.
CONTACT US TODAY AT 501-590-9755 AND LET US WORK WITH YOU AND
GET YOUR CLIENT’S PROPERTY SOLD NOW!