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What’s going on here? We plan to sell this home to the
highest bid through an open, friendly and honest Round-Robin
Bidding Process, on Sunday night, May 18, 2008. Most
people have never seen a house being sold by a round-robin,
open-bidding process, so you're probably wondering why we
are doing it this way. Well, the short answer is we’re
convinced that it produces a better result for both the
buyer and the seller than does the conventional method of
listing, waiting helplessly, and paying a hefty commission
for the privilege.
We have come to think that perhaps this method works better
for both the buyer and the seller. We discovered this method
through friends who had successfully sold their home using
this system.
So, rather than list with a broker at this time, we decided
to use this method to sell our house because:
- It involves about a week of hard work instead of
potential months of sporadic selling visits.
- It encourages full disclosure between the homeowner
and potential buyers.
- We do not start high and slowly come down - we start
low and let the buyers’ market determine the top price.
- The sale is less costly for us, and the buyers,
because there are no broker fees paid from the sale
price. This means we can sell for less, and each of us
comes out ahead. Additionally, the commission savings
instantly adds to the substantial existing equity for
the buyer.
- We believe that if we attract a reasonable sized
buying pool, then our home will sell for a price that is
fair both to the buyer and to the seller.
- The sale process is entirely open. You do not bid
against us, but against other bidders.
- Placing a bid does not make you liable in any way.
You are under no legal obligation as a result of the
bidding process.
- You will have plenty of time to review the terms of
sale, consult with others, inspect the home, and obtain
any necessary mortgage.
- The closing process is the same as in conventional
home sales.
- We honestly believe that if we do our job, that is,
to provide full disclosure, market the home to a
reasonable sized buyer pool, and answer honestly all of
your questions, then this beautiful home will sell for
whatever the market will bear.
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