Residential Real Estate FAQs
For Buyers
Absolutely! The public is welcomed to bid live or online at all of our real estate sales.
Online Sales are probably the easiest way to buy real estate. Just follow the directions after clicking the red “Register to Bid” button on the page with all the details about the property you are interested in. You will be prompted to enter your contact and credit card information. The credit card is not charged but utilized to verify that you have an account only. During registration, you will choose how to be contacted, via e-mail and/or text.
If you are the winning bidder, we will send you a congratulatory message with additional instructions. Our office will e-mail an “electronic” contract for your signature that you may sign on your smart phone, tablet, laptop or desktop. In addition, we will ask you to wire transfer, hand deliver or mail a deposit in certified funds.
Live Sales are a fun and entertaining way to purchase real estate. You can register in person at the site or online prior to the live sale. Be sure to thoroughly review the terms of the sale and bring the required deposit.
An Accelerated Sale is an innovative and effective method of buying and selling real estate. It involves and intense marketing process that involves the public sale of any property – most certainly including those that are non-distressed – through open, competitive bidding.
We provide a transparent buying process, so you know what you’re getting up-front. From property tax history to a home inspection, we do the legwork so that you can buy with confidence.
An accelerated sale is not court-ordered. These are homes that the homeowner decided to sell through our accelerated sale process, typically to ensure a quick sale. The homeowner is highly motivated to sell quickly and works with our team of experts to set a reserve price that ensures the sale of the property.
All of our auctions are public auctions. We use the term “public auction” to ensure the public knows they are welcomed to bid on the property if desired.
A foreclosure is a type of court-ordered sale that occurs when a homeowner is delinquent on their mortgage. These homes are owned by the bank that lent the money for the mortgage, and because banks are not in the business of real estate, they’re motivated to sell these homes quickly.
A court-ordered sale occurs when a lender or mortgage holder gains the right through the court to list and sell the property. For example, a property may be court-ordered to sell if the homeowner is delinquent on their HOA fees, and the HOA gains the right to sell the property as an asset to recoup those fees.
The Buyer’s Premium is added to the winning bid price to arrive at the final contract price. You can think of the Buyer’s Premium as similar to the “tax” you pay at the grocery store. For example, if the Buyer’s Premium is 10% and the winning bid on a property is $100,000, then the buyer’s premiums would be $10,000 and the final contract price would be $110,000. If the Buyer’s Premium is 5% then you would add $,5000 for a total contract price of $105,000. If there is a Buyer’s Premium, please consider when bidding to stay within your range.
There are many reasons a seller may choose an Accelerated Sale, with motivation to sell and desire for a quick sale being among the top reasons. The Accelerated Sales approach provides the seller with an exact date the property will be sold. As a buyer, you can research the property in advance of the sale. We provide a complete home inspection and appraisal on the sales page for each property, so you can buy with confidence.
The majority of our sales are sold with good, insurable title and no liens, judgments, mortgages or back taxes. The seller is responsible to provide good title. If the title cannot be cleared, which is very rare, we return the deposit to the buyer and the sale is null and void.
Yes. We encourage everyone to attend and learn about our method. Hopefully, you will enjoy the process and participate in the next one.
For Sellers
Our consistent results-driven team of real estate professionals, marketing experts and auctioneers have more than 50 years of experience achieving the highest possible price for our clients. We provide complete transparency with every home sale.
Motleys Accelerated Sales are auctions designed to sell your home quickly, on your terms. Accelerated Sales provide potential buyers of your home with all pertinent information - from property tax history to a complete home inspection - so that your home sells with full transparency to expedite the closing process. Plus, you could choose to sell your property as-is - that means you won’t need to do any additional work on the property. Selling through an Accelerated Sale can reduce your long-term carrying costs (taxes, maintenance), create competition among buyers, and expose your property to a wide array of pre-qualified prospects - all under the terms and conditions that you set. Our Accelerated Sales require no additional negotiation on your end either, so you can sit back and relax while we do all the work.
In most cases, the buyer pays the agent(s) commission in the form of a Buyer’s Premium. On most properties, we suggest the seller provide a property inspection report and an appraisal. This keeps the process transparent and removes any uncertainty that buyers may have prior to bidding on the property. We will also prepare and implement a marketing budget on most properties. All of these things vary from case to case, but these are some of the first things we will address after learning more about your property.
Yes, of course! In more than 50 years, we have not “given away” any real estate. We will analyze your property and consult with you on a minimum or reserve price for your property. This becomes the confidential reserve. Our goal is always to exceed your minimum price.
In a reserve sale, you have the ability to reject or counter the final bid. If we cannot make a deal with the winning bidder then we will list the property for a period of time after the event. We utilize the “momentum” from the event to make the eventual sale for you.
The term “Absolute” means the property will sell to the highest bidder regardless of price. Almost all of our properties are through a “Reserved’ Accelerated Sale. This means we have worked with the seller to set a confidential minimum Reserve Price. The seller is only obligated to sell the item once the bid amount exceeds this Reserve Price. A seller can lower, but cannot raise, the Reserve Price.
Absolutely! Motleys is a licensed, full service real estate brokerage firm and a member of the Multiple Listing Service (MLS). Whether you choose the Accelerated Sales approach or a traditional real estate sale, your property will be professionally marketed and will be listed on our website as well as top sites like Zillow, Trulia, Realtor.com and more.
