the purchase price within five business days
of the auction. As an additional incentive,
CBRE Auction Services recommended to the
client to offer an expedited closing incentive
to encourage the eventual high bidder to close
within 10 days. The competitively bid auction
resulted in a sale facility for an amount within
our range of value and the transaction closed
10 days later.
The real estate auction process continues
to evolve and the number of properties sold
at auction continues to increase as owners
discover the benefits of selling a property
If an owner is considering selling a
property at auction, they should consider
the auctioneer's experience before hiring
Selling commercial real estate at auction
is a sophisticated process that is governed
by the Uniform Commercial Code and state
and local laws. The auctioneer must have an
understanding of the auction law or statute
governing the sale of real estate at auction,
asset type, local market conditions, how to
market the property, knowledge of title, easements, survey, financial analysis, legal, issues
surrounding the property, and experience
advising legal counsel on how to structure the
Purchase and Sale Agreement to insure the
deal is a commercially reasonable transaction.
Successful commercial real estate auctioneers are generally licensed real estate brokers
that have practiced real estate auctions for
more than 10 years. If an auctioneer does not
have the adequate depth of experience for
the asset type they are selling at auction, they
should partner with an auctioneer that has the
necessary real estate brokerage and auctioneer experience so the client can receive best
of class service.
Properly structured commercial real estate
auctions provide the client with an efficient
process to sell a property on a date certain at
its maximum value.
Primary Auction Benefits
Speed and Certainty: Properties are sold
in eight-weeks on an “as-is, where-is” basis
with no contingencies as a timed auction,
similar to an e-Bay auction.
Maximizing the Value: Extensive marketing
programs, in a condensed timeframe, inden-tify the buyers and the competitive auction
process drives value.
Determine Property's Value: The auction
determines value for difficult to value unique
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The Caldwell Companies team is composed of
professionals from a variety of backgrounds,
spanning a broad range of real estate expertise.
To speak to a team with over 20 years of
experience in Texas, contact Caldwell today.
Doing it right. Right now.