- Sellers obtain immediate cash.
- Buyers purchase properties at market value.
- The price is determined by open, competitive bidding.
Why an Auction?
Today’s real estate marketplace dictates creative thinking in selling homes and buying homes. Ron Rennick has successfully tapped in on the methodology of real estate Auctions, offering a smart option for those that discover they need one.
The majority of Auctions today don’t result from foreclosure or distress situations, but rather are the result of a Seller choosing a cost-effective, accelerated method to sell a property.
A home can be sold within 30 days at Auction! Auctions allow the Seller to eliminate virtually all long-term carrying costs, and bypass the savings directly to the purchaser in the form of a reduced price.
View a brief video from a live real estate auction.
Auctions are truly a win-win situation…
Across the country, real estate professionals are increasingly turning to Auctions as a winning marketing tool. “Auctions provide a quick exit for people who might wait months or years for a Buyer to come along.” (Wall Street Journal)
Located in Vero Beach since 1979, Ron Rennick Auctions Inc. has earned its reputation as the Treasure Coast’s Premiere Real Estate Auction Company. A second generation company, Ron Rennick Auctions, Inc. offers a level of service that can only be provided through years of experience working in the Vero Beach market.
Auction Benefits to the Seller
- Buyers come prepared to buy
- Quick disposal reduces long term carrying costs, including taxes, insurance, mortgage payments, and maintenance
- Assurance that property will be sold at market value
- Exposes the property to a large number of pre-qualified prospects
- Accelerates the sale
- Creating competition among buyer’s, Auction prices could exceed the price of a negotiated sale
- Eliminates financing contingencies and inspection contingencies
- The Seller knows exactly when the property will sell
- Eliminates numerous showings and unscheduled showings
- Eliminates the negotiation process with the buyers
- Ensures an aggressive marketing program that increases interest & visibility
Auction Benefits to the Buyer
- The Buyer knows the Seller is committed to sell
- In multi-property Auctions the Buyer sees many offerings in the same place at the same time
- Buyers determine the purchase price
- Auctions eliminate long negotiation periods
- Auctions reduce time to purchase property
- Purchasing dates and closing dates are known
- Buyers know they are competing fairly and on the same terms as all other buyers
- Smart investments are made as properties are purchased at market value through competitive bidding
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 with 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;
- A ten percent down payment will be due immediately after being declared the buyer.
- The balance is due at closing within 30 days.
- 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 call our Vero Beach Florida Office for further details about the auction and property specifics. Open daily from 9:00 a.m. – 5:30 p.m. EST, Monday through Friday. Call (772) 562-5015 Fax (772) 562-9824