Realitor, you start with a high price and wait for someone to come along willing to pay enough to match your expectations. You might need to lower your expectations after some time, and it could take years until it sells if you keep high expectations.
Auction, you sell it this week, you close it in a month, and it's all done, you got the money out of it quick & easy. however, you got whatever money any 2 people were willing to offer that day for it, you have no control of what price it would be.
Of course there are reserves on auctions, and so on, but the basicis are above.
In today's climate, I would run an auction for farmland always. We are in a seller's market, farmers are bidding just stuupid these days, you'll do better selling farm land at auction.
For a building site only, I donno. It would depend on the situation. In today's climate you would be money ahead to realitor it, and sit a while and wait for the person with bucks and a dream to come along and match your price. It is a buyer's market.
For a house/building site, often there are several heirs that all have very different ideas on how to value the property, perhaps a next generation wants to buy it, another sibling thinks it's worth 3x it's actual value, and sibling #3 wants to spend the income from the sale yesterday already... In such cases, they default to an auction because they can't agree on how to sell it any other way.....
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Today's Featured Article - Women and Tractors - Tractor Engine Repair - by Teri Burkholder. One of the great things about working on a tractor engine with your other half is that you know what he is thinking of at all times and can anticipate his every move and his next thought of what he will do. With Ben, anyway, I can tell! He'll be busy working and I�m handing him tools and he says, "give me that..." and I�ve already got it in his hand or "hand me that....."and I�ve got the portable light right where he needed it placed to see. "Run in the house and get me a...."as I open th
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