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Frequent Visitor

Re: Land Sales advice

Getting a real estate professional for negotiation is a great idea.  Thanks.  I have one contiguous neighbor with strong interest, (who is also sour on the concept of an auction) and some others with more limited interest.

 

Auctions have been a bit risky, because the market is softer than last year?  Who usually attends these auctions, only locals or is there a broader market/wider variety of players?

 

Thanks again for your help!

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Frequent Visitor

Re: Land Sales advice

Thanks for the advice!

 

How do you decide if the property is bringing what it should?  Professional appraisals are usually pretty solid? 

 

The location is SE South Dakota.  My impression is that this is a fairly strong area.  Any idea?

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Contributor

Re: Land Sales advice

Sell by Auction and hire Sullivan Auctioneers
www.sullivanauctioneers.com

They are he best auctioneers in the business and their results are exceptional

Your land will bring everything it's worth on sale day
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Honored Advisor

Re: Land Sales advice

Well, if a farm goes on the auction block, there`s alot of buzz in the community and if it`s "no saled" that also gets buzz that`s negative.  It`s harder to generate excitement the second time it`s auctioned, some bidders may not show up the second time.

 

If you go to a really good auction service like high yield farmer recomended, they will focus their advertising, they have people looking to buy the type land that you`re selling, they may have a half dozen buyers lined up before the sale.   But they can give you a idea what it will bring and at what price they`d recomend a "no sale".   You may be in a hot neighborhood and you and the auctioneer will be surprised what it does bring.  But around here, there have been some no sales.   One recent case was a poorer farm ended the bidding in the 4`s and auctioneer said they need 5, well the last bidder, a certain governors brother said oh what the heck I`ll give the 5.  So, you never know  Smiley Happy

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Senior Contributor

Re: Land Sales advice

All a no sale means is that the right bidders weren't there. It doesn't mean your farm is without value. In fact some of the nonbidders might rethink the opportunity.

 

Just list it with a talented realtor and let him do his thing. BTW his job is to work for you and get you the best results. His job is not to bring you a crappy bid or to convince you to take it.

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