Buyer Information

An auction is a quick and easy way to purchase a property.  We auction residential property, commercial property, and land, so you will find what you need at Cole Auction. Here are the reasons how purchasing property at auction can benefit you!

1. Smart investments are made as properties are usually purchased at fair market value through competitive bidding.

2. You know the seller is committed to sell. In a typical real estate transaction, sellers sometimes are not ready to sell, or may just be “testing the market”. A seller who places his property up for auction is ready to sell.

3. In multi-property auctions, the buyer sees many offerings in the same place at the same time. We occasionally auction multiple properties on the same day at the same place. This spares you from driving all over the county to find multiple properties to buy.

4. Buyers determine the purchase price. Unlike typical real estate transactions, you will not have to negotiate the price downward. You determine how much the property is worth!

5. Auctions eliminate long negotiation periods. Negotiating the price of a property and terms of a sale can be time consuming and stressful. Auctions eliminate days-long negotiating processes. We auction most properties within 30 minutes – No more negotiating for days before knowing what you will pay!

6. Auctions reduce the time to purchase property. Our sales contracts allow you up to 30 days from the date of the auction to close. Since auctions are “As-is, Where-is”, there are no contingencies which means no delays excepting cleaning a title, if necessary.

7. Purchasing and closing dates are known. You are granted up to 30 days from the date of the auction to close. You know the closing date when you win the bid – You are not left guessing!

8. Buyers know they are competing fairly and on the same terms as all other buyers. Our auction terms and process do not change with one buyer to the next. All buyers compete fairly under the same terms as other buyers.

9. Buyers receive comprehensive information on property via due diligence packet. On the day of the auction, we provide as much information as possible about the property via an information packet which includes tax records, property details, and comparable sales data, if available.