Money Talk
Where does agent commission come from?
How many days do buyers have to place bids on property?
Typically 30 days
Properties must sell to the highest bidder.
False! All real estate auctions are subject to seller confirmation.
True or False: Port City Auctions and ES only takes properties that are empty and list-ready.
False! We can tackle all the personal property and project management of any other needed services to prepare the property for its highest income potential.
What amount do buyers pay in their non-refundable deposit within 48 hours of the auction closing?
10% of the gross price
When do most bidders register to vote?
The last day of the auction.
Auction properties always sell below market value.
False!
True or False: Once a house is listed at auction, a traditional offer cannot be submit.
False! Port City Auctions & Estate Services reserve the right to remove a property from auction at any time for any given reason. All offers will be presented to the seller.
What does the seller owe Port City Auctions & Estate Services if their property doesn't sell?
NOTHING! There is no "No Sell Fee"
If the auction is posted to close at 6pm, does that mean the auction is over at 6pm?
No, we operate on a soft close, meaning the auction only ends when bids stop coming in (3 minute extension).
Buyer's agents can schedule showings on an auction property.
True! Real estate agents can represent buyers at auction including scheduling showings.
On average, how many times is a given auction viewed on the platform by a potential bidder.
a. 500-999
b. 1,000-4,999
c. 5,000-9,999
d. 10,000-15,000
d. 10,000-15,000