| Copyright Genesis Property Solutions, LLC. All rights reserved. NOTE: GPS is not acting as a real estate broker. All properties shown on GPS Auctions are listed by active real estate agents legally doing business under their state guidelines. GPS, LLC offers this website auction platform which functions as a tool for buyer’s agents to submit offers to the sellers and their agents. This exciting option provides a convenient new way for agents to help their buyers and sellers purchase real estate online. |
| GPS AUCTIONS GPS AUCTIONS help Buyers and Sellers navigate their way to Real Estate Success! |
Why use GPS Auctions?
WHY USE AUCTIONS?
Selling real estate at auction is no longer looked at as a last resort.
All across the country, real estate professionals as well as property owners are increasingly turning to the
auction method of marketing as a strategic sales tool. The first step is to properly qualify your situation as a
potential auction scenario with your real estate agent and/or by contacting GPS. (Remember, if you need
help finding a real estate agent, just let GPS know and we'll refer you to a real estate agent in your area).
When you're ready to begin, please Register with GPS.
Auctions offer property owners new options, it exposes the property to a wide market of potential buyers,
and helps turn the property into cash faster than traditional real estate sales.
COMPARE GPS to other auction companies
The Two-Thirds Rule
Unfortunately, not all properties should be sold at auction, but certain properties and situations will benefit
greatly. A dependable way to determine whether a property lends itself to auction is this: If two of the three
main components of a transaction (Market, Seller and Property) lean favorably toward auction, then you can
consider the option to offer your property for sale at auction.
Here's a checklist to figure out if the Two-Thirds Rule applies to your property:
1. MARKET
Do these characteristics describe the market?
• a changing market
• a dull market -- too much product but with buyer interest
• not enough of the particular property type (unique, lake front, etc.)
• an emerging market -- for example, a new development whose sales could take off once some properties
are sold
• a seller's market with high demand and high competition
2. SELLER
Do these characteristics describe the seller?
• needs immediate cash
• going through a partnership or marriage break-up
• is moving out of state
• wants to liquidate an estate
• is retiring
• is an auction-minded seller
• has a listing that is about to expire
• has already purchased another house
• knows auction will bring a fair market price
• has financial problems
• has high carrying costs on the property
3. PROPERTY
Do these characteristics describe the property?
• carries a lot of equity (25% or more). (However, this is not a hard and fast rule, because pre-foreclosure
auctions are becoming one of the fastest growing auction categories).
• unique -- enough market interest to encourage competition
• burdening the owner with high carrying costs
• vacant -- vacant properties may encourage vandalism
• difficult to appraise -- unique properties are difficult to appraise
Auctions Are Often Thought of as "Fire Sales" For Properties in Distress. Is this True?
While using auctions quickly unload a pre-foreclosure or bank-owned (REO) property can be very effective, at
the same time, using auctions to sell non-distress properties can also be very effective. Sellers and real estate
agents are turning more and more to auctions because auctions can be a cost-effective, accelerated method
to sell a property. Builders or financial institutions, for example, prefer auction rather than laboring for months
or years to sell units of a development one by one. Auction allows the seller to eliminate virtually all long-term
carrying costs, passing the savings directly to the purchaser in the form of a reduced price. Auction is truly a
win-win situation: sellers obtain immediate cash and buyers purchase properties at fair market value, the price
determined by open, competitive bidding.
What Factors Impact the Success of an Auction?
A. The seller must have realistic expectations, including a fair sales price, terms and timing.
B. Desirability of the property. This includes location, conditions, plus the value of surrounding properties.
C. Carefully choose the auction type that best suits the property and the seller's needs.
D. A well planned and aggressive marketing/advertising campaign is critical to an auction's success.
E. Preparing the property for sale so it is presented to prospects in its best condition.
(i.e.., title insurance, clean-up, financing, etc...)
F. Qualified Buyers who have the capacity to close on time.
Do you have Additional Questions?
Please visit the GPS Help Center or call us at 888-GPS-LLC7
WHY USE AUCTIONS?
Selling real estate at auction is no longer looked at as a last resort.
All across the country, real estate professionals as well as property owners are increasingly turning to the
auction method of marketing as a strategic sales tool. The first step is to properly qualify your situation as a
potential auction scenario with your real estate agent and/or by contacting GPS. (Remember, if you need
help finding a real estate agent, just let GPS know and we'll refer you to a real estate agent in your area).
When you're ready to begin, please Register with GPS.
Auctions offer property owners new options, it exposes the property to a wide market of potential buyers,
and helps turn the property into cash faster than traditional real estate sales.
COMPARE GPS to other auction companies
The Two-Thirds Rule
Unfortunately, not all properties should be sold at auction, but certain properties and situations will benefit
greatly. A dependable way to determine whether a property lends itself to auction is this: If two of the three
main components of a transaction (Market, Seller and Property) lean favorably toward auction, then you can
consider the option to offer your property for sale at auction.
Here's a checklist to figure out if the Two-Thirds Rule applies to your property:
1. MARKET
Do these characteristics describe the market?
• a changing market
• a dull market -- too much product but with buyer interest
• not enough of the particular property type (unique, lake front, etc.)
• an emerging market -- for example, a new development whose sales could take off once some properties
are sold
• a seller's market with high demand and high competition
2. SELLER
Do these characteristics describe the seller?
• needs immediate cash
• going through a partnership or marriage break-up
• is moving out of state
• wants to liquidate an estate
• is retiring
• is an auction-minded seller
• has a listing that is about to expire
• has already purchased another house
• knows auction will bring a fair market price
• has financial problems
• has high carrying costs on the property
3. PROPERTY
Do these characteristics describe the property?
• carries a lot of equity (25% or more). (However, this is not a hard and fast rule, because pre-foreclosure
auctions are becoming one of the fastest growing auction categories).
• unique -- enough market interest to encourage competition
• burdening the owner with high carrying costs
• vacant -- vacant properties may encourage vandalism
• difficult to appraise -- unique properties are difficult to appraise
Auctions Are Often Thought of as "Fire Sales" For Properties in Distress. Is this True?
While using auctions quickly unload a pre-foreclosure or bank-owned (REO) property can be very effective, at
the same time, using auctions to sell non-distress properties can also be very effective. Sellers and real estate
agents are turning more and more to auctions because auctions can be a cost-effective, accelerated method
to sell a property. Builders or financial institutions, for example, prefer auction rather than laboring for months
or years to sell units of a development one by one. Auction allows the seller to eliminate virtually all long-term
carrying costs, passing the savings directly to the purchaser in the form of a reduced price. Auction is truly a
win-win situation: sellers obtain immediate cash and buyers purchase properties at fair market value, the price
determined by open, competitive bidding.
What Factors Impact the Success of an Auction?
A. The seller must have realistic expectations, including a fair sales price, terms and timing.
B. Desirability of the property. This includes location, conditions, plus the value of surrounding properties.
C. Carefully choose the auction type that best suits the property and the seller's needs.
D. A well planned and aggressive marketing/advertising campaign is critical to an auction's success.
E. Preparing the property for sale so it is presented to prospects in its best condition.
(i.e.., title insurance, clean-up, financing, etc...)
F. Qualified Buyers who have the capacity to close on time.
Do you have Additional Questions?
Please visit the GPS Help Center or call us at 888-GPS-LLC7
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| Welcome Buyers/Agents! To place a bid, you must first Register with GPS If you have already registered, you can use the BID BOX Form on the Property Auction page to place your BID Offer or BUY NOW! |
| QUESTIONS? Please visit The GPS HELP CENTER |
| Welcome Sellers/Agents! Please note: To place your property for auction with GPS, you must first Register with GPS |
| Be notified immediately once new auctions are posted! Register for GPS Auction Alerts! |