Brzostek's Real Estate Auction Co., Inc.
We Welcome you to our Web Site. We are proud to be one of New York State's leading auction services companies. Over the past 34 years we have conducted over 6,700+ auctions across New York State and the nation!
Brzostek's Real Estate Auction Company, Inc. conducts auctions of residential, commercial, income, farm, land and waterfront properties.
Recommended Method of Sale:
Our previous experiences in sales of similar properties make it apparent that the recommendation of this firm is to sell the real property at Unreserved Public Auction.
What The Auction Does For Sellers:
"Real Estate at Auction is a growing trend across the country and specifically in N.Y. More and more people, companies, and government agencies are making the auction method their first resort, not their last."
The auction method of marketing accelerates the selling process for their property, forcing purchasers to deal with a deadline, by establishing a specific date, time and place for the auction sale. This creates a sense of urgency and forces interested parties and possible buyers to finalize arrangements for attending open houses and/or private showings, prearranging for financing commitments, consultation between spouses and/or business partners, legal representation, etc., in advance so as to be fully prepared to make their highest and best bid on the day of the auction. This bid is then placed in the form of a non-contingent purchase offer with a 10% to 15% non-refundable deposit put down and held in Brzostek's escrow account until closing.
The unreserved auction method of marketing exposes the property to the greatest number of buyers in the shortest period of time.
Current Problems Facing Owners Of Residential Real Estate:
- Properties that have been on the market for longer than several months give an appearance of being “shop worn,” with little motivation to arouse prospective purchasers.
- Carrying costs associated with real estate typically run 20% to 35% of the properties’ market values per year to carry if they are vacant.
- Security problems, absentee ownership and the resulting liability are a financial drain.
- Ongoing property management responsibilities including insurance, taxes, mortgages and utilities continue to accrue on a daily basis.
- For the first time in many years, some property is depreciating instead of appreciating in value, not only across New York State but nationwide. In addition to all of the carrying costs associated with the property, owners face the situation where the property may be depreciating in value. Holding the property can only cost owners additional carrying cost expense as well as receiving a lower price if and when the property is finally sold.
How The Auction Method of Marketing Eliminates Problems For Sellers:
Instead of carrying a piece of property for six months to a year or longer, an auction can effectively be scheduled within approximately 30 days of approval of an auction listing agreement.
Specifics Regarding The Absolute Unreserved Auction Method of Marketing:
To ensure aggressive bidding and to maximize results of the auction, Brzostek’s brokers, auctioneers and agents emphasize educating bidders on unique features and desirable characteristics of the property. A high confidence level by the bidders is commensurate with spirited bidding and successful real estate auctions.
The auction is open to all interested parties, and is widely advertised so as to avoid any criticism or lack of information, opportunity or cooperation by any third party to be able to buy any asset.
Getting The Word Out:
Brzostek’s mails auction flyers to buyers across the state and the nation featuring at least one photograph and details of the property including address, acreage, assessment, taxes, terms, dates and times of auction and open houses, plus other pertinent information. The flyers range in size from single to multiple pages and emphasize the properties’ selling points and distinguishing characteristics.
Flyers are mailed to numerous Realtors, attorneys, doctors, developers, investment groups, syndications, and a constantly updated list of real estate prospects. Extensive advertising in local, regional and national newspapers, as well as business, real estate and medical trade journals, is done weeks in advance allowing the message to reach the widest possible scope of prospective buyers.
Additionally, Brzostek’s pays a co-brokering commission to other real estate companies and their prospects and offers an open invitation to attend the open house viewing and auctions. Therefore, not only is Brzostek’s working to sell your property, but all the Realtors in the area are involved with prospective buyers and Brzostek’s co-brokes with them paying their commission.
Open Houses: One to two open houses are held one to three weeks prior to auction. The public may also preview the property one hour before auction time or by appointment.
Services Provided By Brzostek’s Real Estate Auction Co., Inc.:
- Our firm will provide the following:
- Comprehensive Marketing Program
- Planning and organizational staff to prepare for the sale to include a full-time representative to handle the auction.
- Trained personnel to conduct the auction (i.e., Auctioneers, clerks, cashiers and Realtors).
- Trained representatives to conduct open houses and assist with financing alternatives.
- Tents, public address system and chairs for buyer’s convenience, when needed.
- $1,000,000 liability insurance coverage.
- Still and/or motion video presentations of the real and personal property for maximum bids.
- Brzostek’s will pay a co-brokering fee of 25% of Brzostek’s Buyer’s premium (com- mission) to the realtor/broker whose registered client becomes the successful purchaser of the property and closes the transaction.
- Follow up after auction to help insure a successful closing.
Brzostek’s will sell your real estate through a well-planned auction preceded by an aggressive marketing program tailored to highlight your property’s selling points.
Real estate at auction is a quick and efficient method for gathering all interested parties at one time and place, rather than drawing the process out over a period of weeks, months or even years.
Obligations of Seller:
- No Commission Paid by Seller on Real Property.
- Owner is responsible for marketing and promotional expenses. (Rates are based on Brzostek’s reduced corporate advertisement agreements with all major newspapers).
- Provide copies of survey (if available), up- to-date tax bills, copy of deed and/or abstract.
- Access to home for open houses and day of auction.
- List of all items remaining within the home.
- Items/Conditions to be improved prior to sale or closing.
- Present property in impeccable condition.