Why Auction?
Auctions create genuine, time-pressured competition that traditional listings simply cannot replicate. Every bid reinforces market value and motivates other participants to act. The result: higher prices, faster closings, and a signed purchase contract with no financing contingencies on auction day.
Absolutely not. Competitive bidding generates over $50 billion in annual sales nationwide. Fortune 500 companies — including McDonald's, Walmart, Chevron, and Exxon — use accelerated marketing because it achieves the highest price in the shortest time. Government agencies like the FDIC, U.S. Customs, and the SBA all use the method.
Through a full-scale media campaign — signs, print, digital, direct mail, and the internet — we can put more qualified buyers across your front door in two weeks than a traditional listing might see in two years. Our programs reach regional, national, and international audiences.
Sellers choose auction to sell expeditiously, eliminate holding costs (taxes, insurance, maintenance), and benefit from the sense of urgency that auction advertising creates. Buyers see opportunity. Traditional listings have no built-in deadline, no urgency, and no guarantee of when — or whether — a sale will occur.
Selling at Auction
Yes. We will analyze your property and consult with you on a minimum or reserve price before the sale. This figure is not advertised or disclosed to bidders — it is strictly confidential between you and the auction company.
No. Property owners are strictly prohibited from bidding on their own property at auction.
This is exactly what auction solves. Every month a property sits unsold, you're accumulating mortgage payments, taxes, insurance, and maintenance. We help you calculate the present value of cash today vs. an uncertain amount at an uncertain future date — and consistently, the math favors acting now.
Yes — significantly. Experience with your specific property type and market is critical. A firm that has sold office buildings in Boston may not understand rural New Hampshire land. Paul McInnis LLC has sold every property type in every market condition across New England for nearly 50 years. That depth of experience is the difference between a good auction and a great one.
Auction marketing is designed to create competition, not limit it. By reaching a wide pool of qualified, motivated buyers simultaneously and giving them a firm deadline to act, auctions often create urgency that drives the price to — or above — true market value. In many cases, competitive bidding uncovers what a property is really worth, rather than anchoring to a single asking price that may undersell or oversell the property from the start.
It's true you won't know the exact number until the auction closes, but that uncertainty cuts both ways — it's also what creates upward pressure on price. And with a reserve auction, you retain a safety net: the property won't sell below the minimum price you're comfortable with.
Auctions are widely used today by trustees, executors, and sophisticated sellers of high-value estates — not just distressed properties. The transparency of the process (everyone knows a sale is likely, and the terms are clear) often reads as confidence, not desperation.
Auction marketing costs reflect the intensity and reach of the campaign — MLS listing, targeted advertising, and buyer outreach all working on a compressed timeline. Because that marketing investment is what drives competitive bidding, it's directly tied to your outcome, unlike traditional marketing costs that are less visible but still built into commission structures.
A compressed timeline doesn't mean less exposure — it means concentrated exposure. Buyers who might otherwise take months to make a decision are motivated to act now, and our marketing reach ensures interested parties across the region (and beyond) know about the sale well before the deadline.
Auctions attract a broad range of buyers, including traditional homebuyers, particularly as auctions have become more mainstream and online formats have made bidding more accessible. Serious buyers are often drawn to auctions specifically because they offer a clear, fair path to ownership without competing offer wars behind closed doors.
Serious buyers understand and plan for auction terms in advance, and many auctions still accommodate financed buyers with appropriate timelines. Because bidders self-select into the process knowing the terms upfront, you tend to see fewer buyers who aren't truly prepared to close.
Types of Auctions
Property sold to the highest bidder regardless of price. This format allows auction marketing to work at maximum potential — creating the strongest buyer motivation and highest participation. With no reserve or floor, buyers know the property will sell.
Property sold to the highest bidder above a pre-determined, publicly advertised minimum. This gives sellers a floor while still generating competitive bidding above that threshold.
All auctions are 'with reserve' unless otherwise advertised. The final bid is subject to seller approval above a confidential minimum. Sellers who choose this format are still highly motivated — they invest significant time and money in the marketing program.
All bidders submit their offers in sealed envelopes by a set deadline. Bids are opened simultaneously and the winning bidder is notified. Frequently, top bidders are then invited to a private live auction, with the highest sealed bid as the opening live offer.
When similar properties (like office condos or residential lots) are sold together, the highest bidder may select from the entire group — and choose more than one. If you want the opportunity to choose, you must win the bid. If you choose three lots, the bid price is multiplied by three.
Bidding at Auction
A buyer's premium is a percentage added to the winning bid to determine the total purchase price. For example, with a 10% buyer's premium: a winning bid of $750,000 results in a total purchase price of $825,000. The buyer's premium is always disclosed in the Terms and Conditions before auction day.
No. We generally do not require pre-qualification to register and bid. However, if you plan to obtain financing, your lender will require you to qualify for their loan separately. The deposit paid on auction day is typically not contingent on financing.
- Review the Property Information Package thoroughly and complete any due diligence important to you.
- Bring the required deposit (certified check or cash) and a valid photo ID.
- Register at the registration table for a bidding number.
- Ask any final questions before the auction starts.
- If you win, be prepared to sign the Purchase & Sale Agreement immediately.
Yes. You may appoint a representative via a signed Power of Attorney to bid on your behalf. We also frequently offer live remote telephone bidding through an auction representative, or live internet bidding capabilities. Contact us in advance to arrange.
Absolutely. We encourage anyone to attend and observe the process — you'll likely be surprised by how engaging it is. On rare occasions, sellers request that attendance be limited to registered bidders only; this will be noted in the property information.
Buying at Auction
Generally by Warranty Deed, free and clear of all liens and encumbrances (except foreclosures, where the buyer may be responsible for outstanding real estate taxes and municipal liens). Closing costs are primarily governed by the state where the property is located. Refer to the specific Terms and Conditions for each auction.
Buyers purchase with no guarantees regarding the condition of the property. You rely entirely on your own judgment, information, and physical inspection. This is why we encourage thorough due diligence — bring your contractor or home inspector to the preview.
Most auction properties are sold with good, insurable title and no liens, judgments, mortgages, or back taxes. If clear title cannot be delivered, your deposit will be refunded. Always review the Terms and Conditions for each specific auction.
Yes. We will write the offer and present it to the seller for consideration. We recommend making your best offer, and the Terms and Conditions of the auction still apply. Pre-auction offers are a legitimate option for motivated buyers.
Broker registration is welcomed and encouraged at most of our auctions. Registration forms are available from our office with specific terms for each property. Contact us in advance to ensure your broker is registered properly.
Yes — while auctions are often associated with cash buyers, many bidders do use financing to complete their purchase. The key is preparation: buyers interested in financing should get pre-approved and coordinate with their lender before auction day. As long as financing is arranged in advance, it's a common and workable path to purchasing at auction. The auction purchase and sale specifically states the purchase is not contingent on financing and the earnest money deposit is at risk if the buyer doesn’t close but they are more than welcome to finance the transaction.
Yes — buyers are typically encouraged to complete inspections before auction day, since properties are usually sold as-is with no contingencies once the gavel falls. We provide access to the property in advance so buyers can arrange inspections, appraisals, or any other due diligence they need to bid with confidence.
No — winning bidders typically pay a deposit (often 10%) on auction day to secure the contract, with the remaining balance due at closing, usually within 30-45 days. This gives buyers time to finalize financing or arrange funds, while still committing to the purchase immediately.
Still have questions?
We're happy to walk you through it.
Schedule a free, no-obligation consultation. We'll evaluate your property and show you exactly how we'd approach the sale.