The Sealed Bid Auction process, in its simplest description, is the condensing of the typical 6 to 12 month marketing process into a 6 to 8 week marketing campaign while providing a competitive atmosphere for all interested parties. This technique offers Sellers an alternative to the conventional methods of marketing their property. It also offers Buyers an exciting new way to purchase properties. The Auction process saturates the market with a combination of direct mail, telemarketing, signage, classified advertising, and display advertising that would be cost-prohibitive in a conventional marketing campaign. The information provided to prospective Buyers is more in-depth than would be typically available so that Buyers are better informed, which makes it easier for them to do their due diligence before the bids are submitted.
Buyers can offer intelligent prices because they have no fears about what they are buying.
This allows Buyers to quickly access their buying opportunity and plan for their own business strategies. Likewise, the Seller can be assured of a time frame for the sale of his property, affording himself of tax planning, estate considerations, or exchange opportunities. They can then afford to pass on some of their savings to the Buyer. There are also numerous personal circumstances that require a quick but fair sale, such as divorce, partnership disolution, bankruptcy, and estate liquidations. Often, the sell decision is made by a committee, not by an individual.