May I set a minimum amount I want for my real estate if I offer it by auction?
Yes. You may set the mimumum about you will accept. This is called a with reserve auction and is commonly used.
How do real estate auctions generally work?
An auction services agreement is signed and the auction date is set. The auction is advertised. The auction is conducted onsite or offsite where bidders
bid for the propery. The property is sold as is with no contingencies. The highest bid is accepted or rejected in a with reserve auction.
In a without reserve auction the highest bid is accepted. Closing takes place within a short period of time.
What does Absolute Auction mean?
The property is sold to the highest bidder regardless of price.
What is a with reserve auction?
A minimum price (or reserve) must be met in order to sell the property.
How do I list my property for sale with Edens Auctinos?
To list your property contact Edens Auctions at 601.946-1501.
Do you cooperate with Real Estate Agents?
Yes. We often work with other agents and have a Broker Referral and Buyer Broker program.
What do I need to bring to bid on property?
Please review the announcements and terms of the particular auction. Generally, all you need is identification and method of payment.
If I cannot attend the live auction, can I still bid?
Yes. Edens Auctions accepts absentee bids to the auction. Contact us for more details.
Can I bid on behalf of another individual or entity?
Yes. The person who bids on behalf of another individual or entity must be prepared to sign personally on the day of the auction, should they win the property. If the person or entity is unable to take transfer of the property for any reason, then the person who bid at the auction will be deemed the purchaser and will become responsible for all the terms of the contract.
Are Edens Auctions sales contingent on financing or other matters?
No. All sales are on an “As-Is, Where Is” basis. Buyers are encouraged to do their due diligence and begin making their financial arrangements prior to the Auction. Auctions are non-contingent transactions and are NOT subject to inspection or obtaining a mortgage. The seller must convey clear title to the property, free of all liens and encumbrances.
Can I preview and/or inspect a property prior to Auction?
Yes. Edens Auctions holds preview sessions for some auctions.
What is a Buyer’ Premium?
It is a premium paid by the Buyers as a service charge added to the bid price.
What happens with a tie bid?
If there is a tie bid, the auctioneers bid stands and the bidding is opened up between the two bidders. Some auctoneers reopen bidding to all if there is tie bid.