Auction How-To's

The Auction Process

Are you considering Auctioning your property, but unsure what the process entails? As a potential seller your first step is to contact Ron Rennick Auctions Inc by calling 772-562-5015 or send Ron Rennick Auctions Inc an email. Our experienced staff can discuss your specific property needs and offer a preliminary assessment of your property as an auction candidate. If your property appears to be a suitable candidate, one of our auction specialists will visit you to provide further analysis. This allows us to create a strategy for marketing your property and selling your property.

Once the evaluation process is complete, Ron Rennick Real Estate | Auctions will launch a marketing campaign to promote your auction. Our marketing campaign includes a combination of mass email, direct mail, newspaper advertising and web advertising. Each marketing campaign is specifically designed to reach the maximum amount of potential buyers.

On the day of the auction, bidders will begin registering an hour prior to the event. Ron will begin by explaining the terms of agreement and the auction process. Once the live auction takes place and the winning bidder is recognized, Ron will meet with you and the winning bidder to sign the contract and arrange the closing, which usually takes place thirty days after the auction.

How to Bid and Buy

By bringing motivated sellers and motivated buyers together Auctions allow the buyer an incredible opportunity to set the market price on auction day only. Buyers enter an Auction knowing that the seller is committed to sell and the process will be a smooth transition without long negotiation periods. Purchasing a home at auction is an easy experience and a smart option for buyers looking to find a home at fair market value.

If you are interested in purchasing a home at one of Ron Rennick’s Auctions we can take you through the process that will show you how. To bid at one our auctions you may either preregister at our office location prior to the auction or register the day of the auction at the auction location. We are willing to work with buyers who can’t be present at the auction. Please contact our office about remote bidding details.

We offer previews immediately prior to the auction, but since homes are sold on an “as-is” basis at our Auctions we invite your experts (contractors, engineers, inspectors, surveyors, land planners etc.) and you to inspect the property by appointment as many times as you would like. We want to provide you with ample access to help you assess the available property.

There are a few basic terms to consider when purchasing a house at auction including;

  1. A ten percent down payment will be due immediately after being declared the buyer.
  2. The balance is due at closing within 30 days.
  3. A 10% buyer’s premium will be added to the high bid.

The day of the auction show up at the property, register your information and get ready to bid. Ron will open the auction by listing the terms of agreement and explaining the auction process. Once the auction starts feel free to place your bid and after the word “Sold” is called out you may find yourself the owner of a new property!

If you have any questions contact our Vero Beach, Florida Office for further details about the auction and property specifics.

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