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Bringing Buyers and Sellers of Valuable Assets
Together…FAST!
Prequalify for Financing and Know the Payment Terms
of the Auction
It’s highly unusual for auctions of valuable assets to
contain any financing contingencies. If you plan to use
financing to purchase assets offered at auction, it is
important to pre-qualify with your financing
institution. Check the auctions term regarding what is
required in relation to financing, bank letter of
credit, required funds to register, i.e. proof of down
payment or verification of certified funds. Knowledge of
your financing qualifications will help you determine
the amount you’re able to pay for an asset thus
increasing your comfort level and allowing you to bid
with confidence.
Attend an auction
Check www.stanrich.net, local newspapers, or join our
mailing list to locate our auctions in your area. To
familiarize yourself with the process before you
participate as a bidder, it may be helpful to first
attend one or more auctions. Auctions happen quickly, so
it’s important to know what to expect.
Register to bid
On auction day, arriving on site one hour prior to the
auction will give you time to consult with on-site staff
in regard to any last minute questions regarding the
asset(s) offered for auction or the auction process.
Plan your bid strategy
Examine the property, review available information, and
consider any financing issues to determine your bid
limit. Plan to compete. Most bidders will be thinking in
the same price range. Only the one who bids the top
number first can succeed.
Bid Your Price
Until the "hammer falls" or you reach your bid limit,
compete aggressively. There can be only one winning
bidder for any asset offered. You can bid knowing that
you are in competition with others for the asset(s) want
to buy. Have peace of mind in the competitive bidding
situation that you are paying “True Market Value”. BID
your PRICE with confidence knowing that you can protect
your winning position as long as you desire. The
situation of a back room negotiation is eliminated as
you control your offer and you stay “In the Loop” until
the hammer falls! Take advantage of paying True Market
Value, Bid your Price and Enjoy the Auction Process!
CLICK HERE TO BE A PART OF THE ACTION! Get on our
E-mail and Brochure List to stay informed about our
upcoming auctions! |
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