Kentucky Acreage Auction… Sellers Emotional
- December 19, 2015
- Posted by: Myers Jackson
- Category: New Listings | New Auctions
Kentucky Acreage Auction… Sellers Emotional
Kentucky Acreage Auction of 500 acres in Central Kentucky produced a well qualified buyer, however it produced some bitter sweet emotions during the closing transaction. The process started with a simple phone call to a family member that had posted a tract of land for sale in Powell County, Kentucky. The conversion started with the a sister and one the heirs to the property and she stated “we would like to sell the property, everyone is getting older and we just don’t use the land like we use to” said a sister in the initial telephone conversation. A meeting was set to discuss the potential possibilities of an online auction and several heirs and family members sat around a kitchen table looking at documents from way back and asking questions about how the process would work, where would the auction take place and why would an auction be a better choice.
Starting with the first question of how would the process work? The process starts with an agreement to sell between the parties, A Real Estate Broker and an Auctioneer would be in charge of placement of the listing and marketing the property to perspective buyers. A date would be set for the Kentucky Acreage Auction in order to have a closure to the process and attract buyers to place bids during the timeframe. Offers would be considered and instructions to bid would set in motion to accommodate qualified buyers. Necessary information about the property would be collected and assembled to distribute to people interested in finding out more about the sale. The marketing process starts with Internet visibility and clickable links to bidding resources listed at ACRE.BID. The property was transferred to five siblings of the Halsey Estate, after their father Isom Halsey and his wife had passed. Mr. Halsey had purchased the property in 1946 and all the land had been retained with the exception of 30 acres of so that was sold to just a few homeowners in prior years.
Where would this Kentucky Acreage Auction take place? This was a major concern, just like many sellers ask this important question the answer was not as expected. With tradition in times past Auctions are held on the property and a crowd of would be buyers assemble to stick their hand in the air and make known that they would like to bid on the property. The explanation for this auction would be different; The auction would be held via the Internet with online bidding being the source of collecting and placing offers of the 500 acre property. “Online” everyone ask…yes was the simple not but so accepted answer, well not right off the bat. More detail about the process was integrated into the conversation and details like how buyers would see the outlines of the property on maps and that accessible and clickable links to additional information would be available to anyone who wanted to find out more. Additionally the online bidding platform for acreage properties at Acre.bid would expose the property to many more land buyers. Now with more understanding of how online acreage sales work and that the benefit would be in the possibility of a quicker sale at a competitive price was more appealing.
Now when selling acreage in Kentucky why is auction a better choice? The answer came in multiple waves of distinct points of how Kentucky Acreage Auctions have always been a first choice among many and in today’s marketplace auctions are more about marketing than they are quick sales. Now the fact of the matter is marketing produces interest and interested parties make offers so why not present the property get as many offers as possible, therefore get the highest possible price for the property consisting of 500 acres more or less. The decision was not a quick one, however all five brothers and sisters agreed to sell the acreage that had been in the family for decades at auction.
So it was settled that the acreage in Powell County Kentucky would be sold online using the auction method of marketing. Mary Anne Simmons, a Kentucky Real Estate Broker with Premier Real Estate and Home Services and real estate consultant of 33 years cooperated in conjunction with Auctioneer Myers Jackson and would join forces to sell the acreage property with a date set for December 8th.
The first few weeks went great and leading into the sale they were multiple inquiries about the Powell County land. As the days begin to draw near to the end of the auction several conversions were had about the good times and family business that had taken place on the property. Farming tobacco, cutting timber and an interesting story about a damn snake. It was perceived that Jo Anne and Iris ventured into a place where they wish that had not have gone. Anyway the story about the snake, the home place and sibling happenings have made great memories. A huge part of the last 70 plus years would come to and end with the conveyance of the deed and the property transferred into new ownership. This did not hold back some tears and certainly will not replace the memories of years past. Sellers were very pleased with the service given with Broker and Auctioneer, they were very satisfied with the final price and process, however it was a emotional moment knowing that the completed sale of the property was actually a reality.
Kentucky Acreage Auction Sellers Emotional
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