FOR SALE FOR AUCTION

Top 5 Questions about Property Auctions

Why do people sell their properties by auction?

That is simple. The auction is advertised to take place on a particular day and time. The auction starts and when it ends, the property is sold. The auction process allows for owners to plan for the future knowing the date that the property will be sold.

How do I/we participate in a property auction?

To participate in the auction you must first register and get a bidder number. During the registration process, you will have to provide:

• Identification – government issued (DL, Passport, Age of Majority, etc.)

• Proof of Financing – a document or letter from your financial institute or lender

• Bidder Deposit – refundable if you unsuccessful

• Buyer Agent Form – only needed if you have enlisted help and have authorized someone else to bid on your behalf

Once the information is completed and verified, you will be issued a bidder number and now ready to participate.

What’s the difference between buying a property at auction vs. buying a house through an agent?

There is no real difference. The auction requires that 2 or more bidders, the auctioneer start at the opening price and increases it the asking price every time someone bids on the property. You know your price range and how much your will to spend, so if the asking price exceeds your number, you stop bidding. The great thing about auctions is that there is always a great chance that the auction price will be lower that you were willing to spend.

I’m a Real Estate Professional. Are auctions taking potential business away from me?

No. Grand Valley Auctions realizes that some consumers depend on the help of professionals like yourselves to navigate the purchase and legality of home buying. We welcome your expertise and ensure that you will also be paid for your hard work. It’s as easy as completing the Buyer Agent form during the registration process.

What role does the Grand Valley Auctions play when sell property?

The Grand Valley Auctions’ role is the same in every auction sale. We sell property on behalf of our clients. The property belongs to the client until the auctioneer proclaims a winning bidder and new owner of the property. This action is legally binding by provincial and federal laws in Canada. The lawyers responsibility then become to transfer title, and ensure that all parties receive their monies.

 Upcoming Real Estate Auctions

Event	Location	Date & Time	Preview
Lovely Bungalow (Bidding realtors compensated)	35 Euler Dr. Kitchener, Ontario	SOLD
Real Estate Auction (All Agents compensated 2%)	3215 Roseville Rd. Ayr, ON N0B 1E0	August 13th, 2011
Real Estate Auction (Bidding realtors compensated)	18 Clergy Lane Water front on Puslinch Lake	Currently Listed on MLS Make an Offer!